The comparative statements of Cullumber Company are presented here. CULLUMBER...

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Accounting

The comparative statements of Cullumber Company are presented here.

CULLUMBER COMPANY Income Statements For the Years Ended December 31

2017

2016

Net sales

$1,891,640

$1,751,600

Cost of goods sold

1,059,640

1,007,100

Gross profit

832,000

744,500

Selling and administrative expenses

501,100

480,100

Income from operations

330,900

264,400

Other expenses and losses

Interest expense

23,700

21,700

Income before income taxes

307,200

242,700

Income tax expense

93,700

74,700

Net income

$ 213,500

$ 168,000

CULLUMBER COMPANY Balance Sheets December 31

Assets

2017

2016

Current assets

Cash

$ 60,100

$ 64,200

Debt investments (short-term)

74,000

50,000

Accounts receivable

118,900

103,900

Inventory

127,700

117,200

Total current assets

380,700

335,300

Plant assets (net)

661,000

532,300

Total assets

$1,041,700

$867,600

Liabilities and Stockholders Equity

Current liabilities

Accounts payable

$ 161,100

$146,500

Income taxes payable

45,200

43,700

Total current liabilities

206,300

190,200

Bonds payable

232,000

212,000

Total liabilities

438,300

402,200

Stockholders equity

Common stock ($5 par)

290,000

300,000

Retained earnings

313,400

165,400

Total stockholders equity

603,400

465,400

Total liabilities and stockholders equity

$1,041,700

$867,600

All sales were on account. Net cash provided by operating activities for 2017 was $227,000. Capital expenditures were $136,000, and cash dividends were $65,500. Compute the following ratios for 2017. (Round all answers 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 current ratio

: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 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

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