Current Attempt in Progress
The comparative statements of Sandhill Co. are presentedhere.
SANDHILL CO.
Income Statements
For the Years Ended December 31 |
|---|
| | 2017 | | 2016 |
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Net sales | | $1,896,740 | | $1,756,700 |
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Cost of goods sold | | 1,064,740 | | 1,012,200 |
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Gross profit | | 832,000 | | 744,500 |
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Selling and administrative expenses | | 506,200 | | 485,200 |
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Income from operations | | 325,800 | | 259,300 |
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Other expenses and losses | | | | |
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Interest expense | | 23,200 | | 21,200 |
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Income before income taxes | | 302,600 | | 238,100 |
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Income tax expense | | 93,200 | | 74,200 |
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Net income | | $ 209,400 | | $ 163,900 |
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SANDHILL CO.
Balance Sheets
December 31 |
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Assets | | 2017 | | 2016 |
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Current assets | | | | |
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Cash | | $ 60,100 | | $ 64,200 |
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Debt investments (short-term) | | 74,000 | | 50,000 |
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Accounts receivable | | 124,000 | | 109,000 |
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Inventory | | 127,200 | | 116,700 |
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Total current assets | | 385,300 | | 339,900 |
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Plant assets (net) | | 664,000 | | 535,300 |
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Total assets | | $1,049,300 | | $875,200 |
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Liabilities and Stockholders’ Equity | | | | |
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Current liabilities | | | | |
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Accounts payable | | $ 166,200 | | $151,600 |
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Income taxes payable | | 44,700 | | 43,200 |
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Total current liabilities | | 210,900 | | 194,800 |
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Bonds payable | | 235,000 | | 215,000 |
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Total liabilities | | 445,900 | | 409,800 |
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Stockholders’ equity | | | | |
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Common stock ($5 par) | | 290,000 | | 300,000 |
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Retained earnings | | 313,400 | | 165,400 |
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Total stockholders’ equity | | 603,400 | | 465,400 |
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Total liabilities and stockholders’ equity | | $1,049,300 | | $875,200 |
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All sales were on account. Net cash provided by operatingactivities for 2017 was $229,000. Capital expenditures were$137,000, and cash dividends were $61,400.
Compute the following ratios for 2017. (Round allanswers to 2 decimal places, e.g. 1.83 or 1.83%.)
| (a) | | Earnings per share | | $Enter earnings per share in dollars | |
| (b) | | Return on common stockholders’ equity | | Enter return on common stockholders' equity in percentages | % |
| (c) | | Return on assets | | Enter return on assets in percentages | % |
| (d) | | Current ratio | | Enter the current ratio value | :1 |
| (e) | | Accounts receivable turnover | | Enter accounts receivable turnover in times | times |
| (f) | | Average collection period | | Enter average collection period in days | days |
| (g) | | Inventory turnover | | Enter inventory turnover in times | times |
| (h) | | Days in inventory | | Enter the number of days in inventory | days |
| (i) | | Times interest earned | | Enter times interest earned | times |
| (j) | | Asset turnover | | Enter asset turnover in times | times |
| (k) | | Debt to assets ratio | | Enter debt to assets ratio in percentages | % |
| (l) | | Free cash flow | | $Enter free cash flow in dollars |
