Thank you The comparative statements of Wahlberg Company are presented here. Wahlberg Company Income...

80.2K

Verified Solution

Question

Accounting

imageThank you

The comparative statements of Wahlberg Company are presented here. Wahlberg Company Income Statement For the Years Ended December 31 2020 2019 Net sales Cost of goods sold Gross profit Selling and administrative expenses Income from operations Other expenses and losses Interest expense Income before income taxes Income tax expense $1,813,600 1,007,100 806,500 519,800 286,700 $1,750,700 978,000 772,700 472,000 300,700 17,100 269,600 80,015 $ 189,585 14,200 286,500 77,500 $ 209,000 Net income 2019 $64,600 50,300 102,800 115,600 333,300 523,900 $857,200 Wahlberg Company Balance Sheets December 31 Assets 2020 Current assets Cash $60,600 Debt investments (short-term) 69,100 Accounts receivable 117,500 Inventory 123,600 Total current assets 370,800 Plant assets (net) 601,200 Total assets $972,000 Liabilities and Stockholders' Equity Current liabilities Accounts payable $160,600 Income taxes payable 43,100 Total current liabilities 203,700 Bonds payable 220.000 Total liabilities 423,700 Stockholders' equity Common stock ($5 par) 277,400 Retained earnings 270,900 Total stockholders' equity 548,300 Total liabilities and stockholders' equity $972,000 $144,800 42,200 187,000 200.000 387,000 297,100 173,100 470.200 $857,200 All sales were on account. Net cash provided by operating activities for 2020 was $243,000. Capital expenditures were $139,000, and cash dividends were $91,785. Compute the following ratios for 2020. (Round Earnings per share, Current ratio and Asset turnover to 2 decimal places, e.g. 1.65 or 1.65:1, and all other answers to 1 decimal place, e.g. 6.8 or 6.8%. Use 365 days for calculation.) (a) Earnings per share (b) Return on common stockholders' equity (c) Return on assets (d) Current ratio (e) Accounts receivable turnover times Average collection period days (9) Inventory turnover times (h) Days in inventory days (1) Times interest earned Times 6) Asset turnover times (k) Debt to assets ratio (0) Free cash flow

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students