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BLOSSOM COMPANY Income Statements For the Years Ended December 31 2017 2016 Net sales Cost of goods sold Gross profit Selling and administrative expenses Income from operations Other expenses and losses $1,896,440 $1,756,400 1,011,900 744,500 484,900 259,600 1,064,440 832,000 505,900 326,100 Interest expense Income before income taxes Income tax expense Net income 24,100 302,000 94,100 $207,900 22,100 237,500 75,100 $162,400 BLOSSOM COMPANY Balance Sheets December 31 Assets 2017 2016 Current assets Cash Debt investments (short-term) Accounts receivable Inventory 60,100 64,200 50,000 123,700 108,700 117,600 74,000 128,100
BLOSSOM COMPANY Balance Sheets December 31 2017 2016 Assets Current assets Cash Debt investments (short-term) Accounts receivable Inventory $ 60,100 $ 64,200 50,000 108,700 128,100 117,600 340,500 664,000535,300 $1,049,900 $875,800 74,000 123,700 385,900 Total current assets Plant assets (net) Total assets Liabilities and Stockholders Equity Current liabilities $165,900 $151,300 44,100 211,500 195,400 235,000 215,000 446,500 410,400 Accounts payable Income taxes payable 45,600 Total current liabilities Bonds payable Total liabilities Stockholders equity 290,000 300,000 165,400 465,400 $1,049,900 $875,800 Common stock ($5 par) Retained earnings 313,400 603,400 Total stockholders equity Total liabilities and stockholders equity
Total iabilties and stockholders equty All sales were on account. Net cash provided by Compute the following ratios for 2017 (Round current ratio, earnings per share and aset turnover operating activities for 2017 was $227,000. Cetalespendins soe noon, and an assates paso t ratio, earnings per share and asset turnover to 2 decimal places,eg 1.83 365 days in calcwlation) (o) Earnings per share (b) Return on common stockholders equity (c) Return on assets (d)Current rati (e) Accounts receivable turnover (0) Average collection period )Inventory turnover (h) Days in inventory (0) Tmes nterest earned 0) Asset turnover 22% 1,82 times days 66 times 42 days times 1.97 times (k) Debt to assets ratio (U) Free cash flow
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