Reference no: EM132625833

The following are financial statements of Concord Corporation.

Concord Corporation
Income Statement
For the Year Ended December 31, 2017
Net sales	2229700
Cost of goods sold	1,024,800
Selling and administrative expenses	921,900
Interest expense	92,900
Income tax expense	70,030
Net income	$120,070
Concord Corporation
Balance Sheet
12/31/2017
Assets
Current assets
Cash	$71,300
Debt investments	85,030
Accounts receivable (net)	184,500
Inventory	161,200
Total current assets	502,030
Plant assets (net)	587,700
Total assets	$1,089,730
Liabilities and Stockholders' Equity
Current liabilities
Accounts payable	$171,200
Income taxes payable	36,530
Total current liabilities	207,730
Bonds payable	214,700
Total liabilities	422,430
Stockholders' equity
Common stock	362,400
Retained earnings	304,900
Total stockholders' equity	667,300
Total liabilities and stockholders' equity	$1,089,730

Additional information: The net cash provided by operating activities for 2017 was $202,000. The cash used for capital expenditures was $104,400. The cash used for dividends was $32,030. The weighted-average number of shares outstanding during the year was 50,000.

Question (a) Compute the following values and ratios for 2017. (We provide the results from 2016 for comparative purposes.) (Round Current Ratio and Earnings per share to 2 decimal places, e.g. 15.25 and Debt to assets ratio to 1 decimal place, e.g. 78.9%. Enter negative amounts using either a negative sign preceding the number e.g. -45 or parentheses e.g. (45).)

(i) Working capital. (2016: $160,500)
(ii) Current ratio. (2016: 1.65:1)
(iii) Free cash flow. (2016: $48,700)
(iv) Debt to assets ratio. (2016: 31%)
(v) Earnings per share. (2016: $3.15)