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36,540 35,280 170,940 184,800 157,416 168,000 355,740 325,416 Income taxes payable Total current liabilities Bonds payable Total liabilities Stockholders' equity Common stock ($4 par) Retained earnings Total stockholders' equity Total liabilities and stockholders' equity 243,600 263,256 506,856 252,000 138,936 390,936 $862,596 $716,352 All sales were on account. Net cash provided by operating activities for 2022 was $184,800. Capital expenditures were $114,240, and cash dividends were $58,324. Compute the following ratios for 2022. (Round all answers to 2 decimal places, e.g. 1.83 or 1.83%.) (a) Earnings per share 2.95 (b) Return on common stockholders' equity (c) Return on assets (d) Current ratio (e) Accounts receivable turnover times (f) Average collection period days (9) Inventory turnover times (h) Days in inventory days (i) Times interest earned 3.33 times 6) Asset turnover times (k) Debt to assets ratio (1) Free cash flow Click if you would like to Show Work for this question: Open Show Work Problem 13-02A The comparative statements of Cullumber Company are presented here 2021 $1,470,000 845,040 CULLUMBER COMPANY Income Statements For the Years Ended December 31 2022 Net sales $1,586,400 Cost of goods sold 887,000 Gross profit 699,400 Selling and administrative expenses 420,000 Income from operations 279,400 Other expenses and losses Interest expense 18,480 Income before income taxes 260,920 Income tax expense 78,276 Net income $ 182,644 624,960 402,360 222,600 16,800 205,800 61,740 $ 144,060 2022 2021 CULLUMBER COMPANY Balance Sheets December 31 Assets Current assets Cash Debt investments (short-term) Accounts receivable Inventory Total current assets Plant assets (net) Total assets Liabilities and Stockholders' Equity Current liabilities Accounts payable $ 50,484 62,160 98,952 105,840 317,436 545,160 $ 53,928 42,000 86,352 97,020 279,300 437,052 $862,596 $716,352 $ 134,400 $122,136

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