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Ratios Compared with Industry Averages
Packard Plastics, Inc., manufactures various plastic and synthetic
products. Financial statement data for the firm follow:
2013 (Thousands of Dollars, Except Earnings per Share) |
|
---|---|
Sales revenue | $896,500 |
Cost of goods sold | 594,000 |
Net income | 55,550 |
Dividends | 15,400 |
Earnings per share | 4.04 |
Packard Plastics, inc. Balance Sheets (Thousands of Dollars) |
||
---|---|---|
Dec. 31, 2013 | Dec. 31, 2012 | |
Assets | ||
Cash | $4,510 | $2,700 |
Accounts receivable (net) | 73,590 | 60,900 |
Inventory | 148,000 | 140,000 |
Total Current Assets | 219,000 | 203,600 |
Plant assets (net) | 215,000 | 194,000 |
Other assets | 5,300 | 3,900 |
Total Assets | $439,300 | $401,500 |
Liabilities and Stockholders' Equity | ||
Notes payable-banks | $34,100 | $25,000 |
Accounts payable | 30,360 | 23,000 |
Accrued liabilities | 25,100 | 24,800 |
Total Current Liabilities | 83,700 | 72,800 |
10% Bonds payable | 150,000 | 150,000 |
Total Liabilities | 233,700 | 222,800 |
Common stock, $10 par value (12,500,000 shares) | 125,000 | 125,000 |
Retained earnings | 80,600 | 53,700 |
Total Stockholders' Equity | 205,600 | 178,700 |
Total Liabilities and Stockholders' Equity | $439,300 | $401,500 |
Required
a. Using the given data, calculate items 1 through 8 below for 2013
for Packard Plastics, Inc.
Round all answers to two decimal places.
Median Ratios for Manufacturers of Plastic and Synthetic Products |
Ratios for Packard Plastics |
|||
---|---|---|---|---|
1. Quick ratio: | 1.20 | Answer | ||
2. Current ratio: | 1.90 | Answer | ||
3. Accounts Receivable Turnover: | 7.90 | Answer | ||
4. Inventory turnover: | 7.80 | Answer | ||
5. Debt-to-equity ratio: | 0.95 | Answer | ||
6. Gross profit percentage | 32.70 | % | Answer | % |
7. Return on sales | 3.50 | % | Answer | % |
8. Return on assets: | 6.30 | % | Answer | % |
b. Calculate the dividends paid per share of common stock. (Note:
Number of shares shown on balance sheet is not shown in thousands.
The number of shares "in thousands" is 12,500.)
Round answers to two decimal places.
$Answer
What was the dividend payout ratio?
Answer
%
c. If the most recent price per share of common stock is $48.75,
what is the price-earnings ratio?
Round answers to two decimal places.
Answer
The dividend yield?
Answer
%
Question 2
Partially correct
Mark 0.25 out of 1.00
Flag question
Question text
Ratios Compared with Industry Averages
Packard Plastics, Inc., manufactures various plastic and synthetic
products. Financial statement data for the firm follow:
2013 (Thousands of Dollars, Except Earnings per Share) |
|
---|---|
Sales revenue | $896,500 |
Cost of goods sold | 594,000 |
Net income | 55,550 |
Dividends | 15,400 |
Earnings per share | 4.04 |
Packard Plastics, inc. Balance Sheets (Thousands of Dollars) |
||
---|---|---|
Dec. 31, 2013 | Dec. 31, 2012 | |
Assets | ||
Cash | $4,510 | $2,700 |
Accounts receivable (net) | 73,590 | 60,900 |
Inventory | 148,000 | 140,000 |
Total Current Assets | 219,000 | 203,600 |
Plant assets (net) | 215,000 | 194,000 |
Other assets | 5,300 | 3,900 |
Total Assets | $439,300 | $401,500 |
Liabilities and Stockholders' Equity | ||
Notes payable-banks | $34,100 | $25,000 |
Accounts payable | 30,360 | 23,000 |
Accrued liabilities | 25,100 | 24,800 |
Total Current Liabilities | 83,700 | 72,800 |
10% Bonds payable | 150,000 | 150,000 |
Total Liabilities | 233,700 | 222,800 |
Common stock, $10 par value (12,500,000 shares) | 125,000 | 125,000 |
Retained earnings | 80,600 | 53,700 |
Total Stockholders' Equity | 205,600 | 178,700 |
Total Liabilities and Stockholders' Equity | $439,300 | $401,500 |
Required
a. Using the given data, calculate items 1 through 8 below for 2013
for Packard Plastics, Inc.
Round all answers to two decimal places.
Median Ratios for Manufacturers of Plastic and Synthetic Products |
Ratios for Packard Plastics |
|||
---|---|---|---|---|
1. Quick ratio: | 1.20 | Answer | ||
2. Current ratio: | 1.90 | Answer | ||
3. Accounts Receivable Turnover: | 7.90 | Answer | ||
4. Inventory turnover: | 7.80 | Answer | ||
5. Debt-to-equity ratio: | 0.95 | Answer | ||
6. Gross profit percentage | 32.70 | % | Answer | % |
7. Return on sales | 3.50 | % | Answer | % |
8. Return on assets: | 6.30 | % | Answer | % |
b. Calculate the dividends paid per share of common stock. (Note:
Number of shares shown on balance sheet is not shown in thousands.
The number of shares "in thousands" is 12,500.)
Round answers to two decimal places.
$Answer
What was the dividend payout ratio?
Answer
%
c. If the most recent price per share of common stock is $48.75,
what is the price-earnings ratio?
Round answers to two decimal places.
Answer
The dividend yield?
Answer
%
Question 2
Partially correct
Mark 0.25 out of 1.00
Flag question
Question text
Ratios Compared with Industry Averages
Packard Plastics, Inc., manufactures various plastic and synthetic
products. Financial statement data for the firm follow:
2013 (Thousands of Dollars, Except Earnings per Share) |
|
---|---|
Sales revenue | $896,500 |
Cost of goods sold | 594,000 |
Net income | 55,550 |
Dividends | 15,400 |
Earnings per share | 4.04 |
Packard Plastics, inc. Balance Sheets (Thousands of Dollars) |
||
---|---|---|
Dec. 31, 2013 | Dec. 31, 2012 | |
Assets | ||
Cash | $4,510 | $2,700 |
Accounts receivable (net) | 73,590 | 60,900 |
Inventory | 148,000 | 140,000 |
Total Current Assets | 219,000 | 203,600 |
Plant assets (net) | 215,000 | 194,000 |
Other assets | 5,300 | 3,900 |
Total Assets | $439,300 | $401,500 |
Liabilities and Stockholders' Equity | ||
Notes payable-banks | $34,100 | $25,000 |
Accounts payable | 30,360 | 23,000 |
Accrued liabilities | 25,100 | 24,800 |
Total Current Liabilities | 83,700 | 72,800 |
10% Bonds payable | 150,000 | 150,000 |
Total Liabilities | 233,700 | 222,800 |
Common stock, $10 par value (12,500,000 shares) | 125,000 | 125,000 |
Retained earnings | 80,600 | 53,700 |
Total Stockholders' Equity | 205,600 | 178,700 |
Total Liabilities and Stockholders' Equity | $439,300 | $401,500 |
Required
a. Using the given data, calculate items 1 through 8 below for 2013
for Packard Plastics, Inc.
Round all answers to two decimal places.
Median Ratios for Manufacturers of Plastic and Synthetic Products |
Ratios for Packard Plastics |
|||
---|---|---|---|---|
1. Quick ratio: | 1.20 | Answer | ||
2. Current ratio: | 1.90 | Answer | ||
3. Accounts Receivable Turnover: | 7.90 | Answer | ||
4. Inventory turnover: | 7.80 | Answer | ||
5. Debt-to-equity ratio: | 0.95 | Answer | ||
6. Gross profit percentage | 32.70 | % | Answer | % |
7. Return on sales | 3.50 | % | Answer | % |
8. Return on assets: | 6.30 | % | Answer | % |
b. Calculate the dividends paid per share of common stock. (Note:
Number of shares shown on balance sheet is not shown in thousands.
The number of shares "in thousands" is 12,500.)
Round answers to two decimal places.
$Answer
What was the dividend payout ratio?
Answer
%
c. If the most recent price per share of common stock is $48.75,
what is the price-earnings ratio?
Round answers to two decimal places.
Answer
The dividend yield?
Answer
%
Question 2 Partially correct Mark 0.25 out of 1.00 Flag question Question text Ratios Compared with...
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