All sales were on account net cash provided by operating

Assignment Help Accounting Basics

Reference no: EM13573382

The comparative statements of Osborne Company are presented here.

OSBORNE COMPANY Income Statements For the Years Ended December 31
	2014	2013
Net sales	$1,895,657	$1,755,617
Cost of goods sold	1,063,657	1,011,117
Gross profit	832,000	744,500
Selling and administrative expenses	505,117	484,117
Income from operations	326,883	260,383
Other expenses and losses
Interest expense	23,442	21,442
Income before income taxes	303,441	238,941
Income tax expense	93,442	74,442
Net income	$ 209,999	$ 164,499

OSBORNE COMPANY Balance Sheets December 31
Assets	2014	2013
Current assets
Cash	$ 60,100	$ 64,200
Debt investments (short-term)	74,000	50,000
Accounts receivable	122,917	107,917
Inventory	127,442	116,942
Total current assets	384,459	339,059
Plant assets (net)	663,395	534,695
Total assets	$1,047,854	$873,754
Liabilities and Stockholders' Equity
Current liabilities
Accounts payable	$ 165,117	$150,517
Income taxes payable	44,942	43,442
Total current liabilities	210,059	193,959
Bonds payable	234,395	214,395
Total liabilities	444,454	408,354
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	$1,047,854	$873,754

All sales were on account. Net cash provided by operating activities for 2014 was $236,780. Capital expenditures were $136,330, and cash dividends were $61,999.
Compute the following ratios for 2014. (Round all answers to 2 decimal places, e.g. 1.83 or 12.61%.)

(a)	Earnings per share	$
(b)	Return on common stockholders' equity		%
(c)	Return on assets		%
(d)	Current ratio		:1
(e)	Accounts receivable turnover		times
(f)	Average collection period		days
(g)	Inventory turnover		times
(h)	Days in inventory		days
(i)	Times interest earned		times
(j)	Asset turnover		times
(k)	Debt to assets		%
(l)	Current cash debt coverage		times
(m)	Cash debt coverage		times
(n)	Free cash flow

Reference no: EM13573382

Questions Cloud

Lettman corporation has provided the following partial : lettman corporation has provided the following partial listing of costs incurred during novembernbspnbspmarketing

Javits amp sons common stock currently trades at 30 a share : javits amp sons common stock currently trades at 30 a share. it is expected to pay an annual dividend of 1.50 a share

Suppose you find that prices of stocks before large : suppose you find that prices of stocks before large dividend increases show on average consistently positive abnormal

You are interested in creating a portfolio of two stocks - : you are interested in creating a portfolio of two stocks - coca cola and texas utilities. over the last decade an

All sales were on account net cash provided by operating : the comparative statements of osborne company are presented here.osborne company income statements for the years ended

Jacks lumber yard receives 8000 large trees each period : jacks lumber yard receives 8000 large trees each period that it subsequently processes into rough logs by stripping off

Roberts iii corporation is considering an investment in : roberts iii corporation is considering an investment in special-purpose equipment to enable the company to obtain a

For the activity level of 2700 units compute a the total : corio corporation reports that at an activity level of 2600 units its total variable cost is 117390 and its total fixed

Clover dairys stock has a beta of 080 ifthe risk-free rate : parr papers stock has a beta of 1.40 and its required returnis 13.00. clover dairys stock has a beta of 0.80. ifthe

User Account

All Pages