The comparative statements of Wahlberg Company are presented here. Wahlberg Company Income Statement For the...
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The comparative statements of Wahlberg Company are presented here. Wahlberg Company Income Statement For the Years Ended December 31 2020 2019 Net sales $1,815,400 $1,748,300 Cost of goods sold 1,012,500 991,000 Gross profit 802,900 757,300 Selling and administrative expenses 514,200 474,200 Income from operations 288,700 283,100 Other expenses and losses Interest expense 18,100 13,000 Income before income taxes 270,600 270,100 Income tax expense 79,332 76,400 Net income $191,268 $ 193,700 Wahlberg Company Balance Sheets December 31 Assets 2020 2019 Current assets Cash $59,400 $63,700 Debt investments (short-term) 70,100 50,700 Accounts receivable 117,800 102,300 Inventory 124,000 114,800 Total current assets 371,300 331,500 Plant assets (net) 596,900 523,100 Total assets $968,200 $854,600 Liabilities and Stockholders' Equity Current liabilities Accounts payable $159,000 $145,000 Income taxes payable 42,000 42,500 Total current liabilities 201,000 187,500 Bonds payable 220,000 200,000 Total liabilities 421,000 387,500 Stockholders' equity Common stock ($5 par) 279,500 300,100 Retained earnings 267,700 167,000 Total stockholders' equity 547,200 467,100 Total liabilities and stockholders' equity $968,200 $854,600 All sales were on account. Net cash provided by operating activities for 2020 was $241,000. Capital expenditu cash dividends were $90,568. Compute the following ratios for 2020. (Round Earnings per share, Current ratio and Asset turnover to 2 decimal pl and all other answers to 1 decimal place, e.g.6.8 or 6.8%. Use 365 days for calculation.) (a) Earnings per share $ 3.42 (b) Return on common stockholders' equity 37.7 % (c) Return on assets 31.7 % (d) Current ratio 1.85 :1 (e) Accounts receivable turnover 16.5 times (f) Average collection period 22.1 days (g) g Inventory turnover 8.5 times (h) ) Days in inventory 42.9 days (i) Times interest earned times (j) Asset turnover times (k) Debt to assets ratio % (1) Free cash flow CA $
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