Reference no: EM13573870

Selected comparative statement data for Molini Products Company are presented below. All balance sheet data are as of December 31.

		2014		2013
Net sales		$701,420		$677,370
Cost of goods sold		478,950		396,040
Interest expense		6,740		4,780
Net income		43,290		31,280
Accounts receivable		117,850		108,150
Inventory		87,540		71,440
Total assets		584,810		535,120
Total common stockholders' equity		432,060		323,190

Compute the following ratios for 2014. (Round all answers to 1 decimal place, e.g. 1.6, or 1.6% .)

Profit margin			%
Asset turnover			times
Return on assets			%
Return on common stockholders' equity			%

Rees Corporation experienced a fire on December 31, 2014, in which its financial records were partially destroyed. It has been able to salvage some of the records and has ascertained the following balances.

		December 31, 2014		December 31, 2013
Cash		$ 31,080		$ 12,230
Receivables (net)		75,000		124,000
Inventory		203,400		189,200
Accounts payable		47,970		93,800
Notes payable		26,150		61,970
Common stock, $100 par		411,000		411,000
Retained earnings		136,000		125,000

Additional information:

1.		The inventory turnover is 3.5 times.
2.		The return on common stockholders' equity is 28%. The company had no additional paid-in capital.
3.		The receivables turnover is 8.2 times.
4.		The return on assets is 20%.
5.		Total assets at December 31, 2013, were $636,800.

Compute the following for Rees Corporation.

(a)		Cost of goods sold for 2014		$
(b)		Net sales (credit) for 2014		$
(c)		Net income for 2014		$
(d)		Total assets at December 31, 2014		$