The comparative statements of Jetson Company are shown below. All sales were on account. Net cash provided
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The comparative statements of Jetson Company are shown below.
All sales were on account. Net cash provided by operating activities was $108,000. Capital expenditures were $47,000, and cash dividends were $30,900.InstructionsCompute the following ratios for 2012.(a) Earnings per share.(b) Return on common stockholders' equity.(c) Return on assets.(d) Current.(e) Receivables turnover.(f ) Average collection period.(g) Inventory turnover.(h) Days in inventory.(i) Times interest earned.(j) Asset turnover.(k) Debt to total assets.(l) Current cash debt coverage.(m) Cash debt coverage.(n) Free cashflow.
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JETSON COMPANY Income Statements For the Years Ended December 31 2012 2011 Net sales $780,000 $624,000 405,600 Cost of goods sold Gross profit Selling and administrative expense 440,000 340,000 218,400 176,880 149,760 Income from operations Other expenses and losses Interest expense 163,120 68,640 9,920 7,200 Income before income taxes 153,200 38,000 61,440 14,000 Income tax expense $ 47,440 $115,200 Net income JETSON COMPANY Balance Sheets December 31 Assets 2012 2011 Current assets $ 23,100 $ 21,600 33,000 Cash Short-term investments 44,800 Accounts receivable 106,200 83,800 74,000 Inventory 116,400 Total current assets 290,500 485,300 212,400 439,600 Plant assets (net) Total assets $775,800 $652,000 Liabilities and Stockholders' Equity Current liabilities Accounts payable Income taxes payable $138,200 25,300 $132,000 24,000 Total current liabilities 163,500 132,000 156,000 Bonds payable 120,000 Total liabilities 295,500 276,000 Stockholders' equity Common stock ($10 par) Retained earnings 150,000 130,000 330,300 246,000 Total stockholders' equity 480,300 376,000 Total liabilities and stockholders' equity $775,800 $652,000
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a b c d e f Average collection period 365 days 8...View the full answer
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Financial Accounting Tools for business decision making
ISBN: 978-0470534779
6th Edition
Authors: Paul D. Kimmel, Jerry J. Weygandt, Donald E. Kieso
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