Problem 13-03A Condensed balance sheet and income statement data for Cheyenne Corporation are presented here. CHEYENNE...
Problem 13-03A
Condensed balance sheet and income statement data for Cheyenne Corporation are presented here.
|
CHEYENNE CORPORATION |
||||||
|---|---|---|---|---|---|---|
|
2022 |
2021 |
2020 |
||||
|
Cash |
$ 31,000 |
$ 21,000 |
$ 19,000 |
|||
|
Accounts receivable (net) |
51,000 |
46,000 |
49,000 |
|||
|
Other current assets |
97,000 |
102,000 |
71,000 |
|||
|
Investments |
62,000 |
77,000 |
52,000 |
|||
|
Plant and equipment (net) |
500,000 |
370,000 |
358,000 |
|||
|
$741,000 |
$616,000 |
$549,000 |
||||
|
Current liabilities |
$ 86,000 |
$ 81,000 |
$ 71,000 |
|||
|
Long-term debt |
152,000 |
92,000 |
57,000 |
|||
|
Common stock, $10 par |
327,000 |
317,000 |
307,000 |
|||
|
Retained earnings |
176,000 |
126,000 |
114,000 |
|||
|
$741,000 |
$616,000 |
$549,000 |
||||
|
CHEYENNE CORPORATION |
||||
|---|---|---|---|---|
|
2022 |
2021 |
|||
|
Sales revenue |
$747,000 |
$607,000 |
||
|
Less: Sales returns and allowances |
41,000 |
31,000 |
||
|
Net sales |
706,000 |
576,000 |
||
|
Cost of goods sold |
432,000 |
357,000 |
||
|
Gross profit |
274,000 |
219,000 |
||
|
Operating expenses (including income taxes) |
181,000 |
151,000 |
||
|
Net income |
$ 93,000 |
$ 68,000 |
||
Additional information:
| 1. | The market price of Cheyenne’s common stock was $7.00, $7.50, and $8.50 for 2020, 2021, and 2022, respectively. | |
| 2. | You must compute dividends paid. All dividends were paid in cash. |
Compute the following ratios for 2021 and 2022.
|
2022 |
2021 |
|||||||
|---|---|---|---|---|---|---|---|---|
|
Profit margin |
enter percentages
|
% | enter percentages
|
% | (Round answers to 1 decimal place, e.g. 1.5%.) | |||
|
Gross profit rate |
enter percentages
|
% | enter percentages
|
% | (Round answers to 1 decimal place, e.g. 1.5%.) | |||
|
Asset turnover |
enter asset turnover in times
|
times | enter asset turnover in times
|
times | (Round answers to 2 decimal places, e.g. 1.83.) | |||
|
Earnings per share |
$enter earnings per share in dollars
|
$enter earnings per share in dollars
|
(Round answers to 2 decimal places, e.g. 1.83.) | |||||
|
Price-earnings ratio |
enter price-earnings ratio in times
|
times | enter price-earnings ratio in times
|
times | (Round answers to 1 decimal place, e.g. 1.5.) | |||
|
Payout ratio |
enter percentages
|
% | enter percentages
|
% | (Round answers to 0 decimal places, e.g. 15%.) | |||
|
Debt to assets ratio |
enter percentages
|
% | enter percentages
|
% | (Round answers to 0 decimal places, e.g. 15%.) | |||
Homework Answers
Add Answer to:
Problem 13-03A
Condensed balance sheet and income statement data for Cheyenne
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