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Problem - Ratios Compared with industry Averages
Because you own the common stock of Phantom Corporation, a paper manufacturer, you decide to analyze the firm's performance for the most recent year. The following data are taken from the firm's latest annual report:
Dec. 31, 2016
Dec. 31, 2015
Quick assets
$700,000
$552,000
Inventory and prepaid expenses
372,000
312,000
Other assets
4,788,000
4,200,000
Total Assets
$5,860,000
$5,064,000
Current liabilities
$724,000
$564,000
10% Bonds payable
1,440,000
8% Preferred stock, $100 par value
480,000
Common stock, $10 par value
2,700,000
2,160,000
Retained earnings
516,000
420,000
Total Liabilities and Stockholders' Equity
For 2016, net sales amount to $11,280,000, net income is $575,000, and preferred stock dividends paid are $42,000.
Required -
Calculate the following ratios for 2016.
1. Return on sales
2. Return on assets
3. Return on common stockholders' equity
4. Quick ratio
5. Current ratio
6. Debt-to-equity ratio
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