OSBORNE COMPANY
Income Statements

Description of this paper

Loading

The comparative statements of Osborne Company are presented here.-(Answered)

Description

Step-by-step Instant Solution


Question

The comparative statements of Osborne Company are presented here.


OSBORNE COMPANY
Income Statements
For the Years Ended December 31
2014 2013
Net sales $1,891,818 $1,751,778
Cost of goods sold 1,059,818 1,007,278
Gross profit 832,000 744,500
Selling and administrative expenses 501,278 480,278
Income from operations 330,722 264,222
Other expenses and losses
???Interest expense 23,175 21,175
Income before income taxes 307,547 243,047
Income tax expense 93,175 74,175
Net income $?214,372 $?168,872


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 119,078 104,078
???Inventory 127,175 116,675
?????Total current assets 380,353 334,953
Plant assets (net) 661,920 533,220
Total assets $1,042,273 $868,173
Liabilities and Stockholders? Equity
Current liabilities
???Accounts payable $?161,278 $146,678
???Income taxes payable 44,675 43,175
?????Total current liabilities 205,953 189,853
Bonds payable 232,920 212,920
?????Total liabilities 438,873 402,773
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 $1,042,273 $868,173


All sales were on account. Net cash provided by operating activities for 2014 was $233,450. Capital expenditures were $136,830, and cash dividends were $66,372.


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 $



Since you will not be able to find a tutor for this question, use this sample to do the question. Follow it

 

and you will get the assistance you need.

 


 

Net sales

 

Cost of goods sold

 

Gross profit...

 

Paper#9256806 | Written in 27-Jul-2016

Price : $16
SiteLock