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13Z-DUE 1/25/19 Question 1 The comparative statements of Crane Company are presented here. CRANE COMPANY Income Statements For the Years Ended December 31 2017 2016 Net sales Cost of goods sold Gross proft Selling and administrative expenses Income from operations Other expenses and losses 1895,540 $1,755,500 1,063,5401.011.000 832,000 744,500 484,000 327000 260.500 505,000 21,200 303,800 239,300 20074.200 23,200 Interest expense Income before income taxes Income tax expense Net income $210,600 $ 165,100 CRANE COMPANY Balance Sheets December 31 Assets 202016 Current assets $ 60,100 $ 64,200 Cash
132- DUE 1/2519 Net income CRANE COMPANY Balance Sheets December 31 Assets 2017 2016 Current assets Cash Debt investments (short-term) Accounts receivable Inventory $ 60,100 $ 64,200 74,000 50,000 122,800 107,800 127,200 116,700 384,100 338,700 660,000531,300 $1,044.100 $870,000 Total current assets Plant assets (net) Total assets Liabilities and Stockholders Equity Current liabilities Accounts payable Income taxes payable Total current liablities Bonds payable $ 165,000 $150,400 44.700 43.200 209,700 193,600 231,000 211,000 440,700 404,600 Total liabilities Stockholders equity 290,000 300,000 313,400 165,400 603,400 465.400 Total liabilities and stockholders equity $1,044,100 $870.000 Common stock ($5 par) Retained earnings Total stockholders equity
Sbockholders equity Common slock İSS par) Retained earnings Total stockholders equity 290.000 300.000 313400 165,400 603 400465.400 stockholders equity 51044 100 5870.000 sales were on account, Net cash provided by operating activities for 3017 was $ 221,000 Capital expenditures were $ 135.000 and cash dividends were $ 62.600. Compute the following ratios for 2017.(Round all answers to 2 decimal places,es. 1.83 or 1.838 lal Eannings per share b Return on common stockholders equity d Return on asets Current ratio el Accounts recelvable turnover Average collection period lel Inventory turnover IN Days in inventory Times interest earned ) Debt to assets ratio D Free cash flow 3 5 6 7 tab
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a. Earning per Share Net Income/Average no of Shares 210600/59000 $      3.57
No of Shares 2017 290000/5                              58,000
No of Shares 2016 300000/5                              60,000
Average No of Shares (58000+60000)/2                              59,000
b. Return on Common Stockholder Equity Net Income/Average Common Stockholder Equity 210600/534400 39.41%
Average Common Stockholder Equity (603400+465400)/2 $                       534,400
c. Return on Assets Net Income/Average Total Assets 210600/957050 22.01%
Average Total Assets (1044100+870000)/2 $                       957,050
d. Current Ratio Current Assets/Current Liabilities 384100/209700 $      1.83
e. Accounts Receivable Turnover Net Sales/Average Accounts Receivable 1895540/115300        16.44
Average Accounts Receivable (122800+107800)/2 $                       115,300
f. Average Collection Period 365 Days/Accounts Receivable Turnover 365/16.44        22.20
g. Inventory Turnover Cost of Goods Sold/Average Inventory 1063540/121950          8.72
Average Inventory (127200+116700)/2 $                       121,950
h. Days in Inventory 365 Days/Inventory Turnover 365/8.72        41.85
i. Times interest Earned EBIT/Interest Expense 327000/23200        14.09
j. Asset Turnover Net Sales/Average Total Assets 1895540/957050          1.98
Average Total Assets (1044100+870000)/2 $                       957,050
k. Debt to Asset Ratio Total Liabilities/Total Assets 440700/1044100 42.21%
l. Free Cash Flow Net cash by Operating Activities-Capex-Cash Dividends 221000-135000-62600 $ 23,400
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