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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