Reference no: EM13808252
An analysis of last year's financial statements produced the following results.
Current ratio 3.6
Quick ratio 2.2
Average collection period Inventory turnover 78.0 days
Inventory turnover 4.4
Fixed asset turnover 6.4
Operating profit margin 11.9%
Net profit margin 6.1%
Return on assets 8.8%
Return on equity 13.7%
Debt ratio 35. 5%
Times-interest-earned 9.3X
Payout ratio 41.4%
Use the following data to compute the comparable financial ratios for next fiscal year. Has the firm's financial position changed?
Current assets
Cash and short—term investments $ 14,657,000
Accounts receivable 71,873,000
Inventory 56,372,000
Plant and equipment 26,881,000
Long-term investments and other assets 20,606,000
Total assets $190,389,000
Current liabilities $ 37,481,000
Long-term debt 17,895,000
Equity 135,013,000
Total liabilities and equity $190,389,000
Sales $254,553,000
Cost of goods sold 149, 903,000
Selling, administrative, and other expenses 69,609,000
Earnings before interest and taxes 35,041,000
Interest 2,529,000
Taxes 13,972,540
Net Income $18,540,000
Earning Per Share $4.13
Dividends per share $1.80
Average Inventory = $56,530,000
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