Question

eg ygandt, Accounting Principles, 13 Sistem Announcements Es ady Problem 10-02A (Video) la Your answer is partially correct. Try again. The comparative statements of Wallberg Company are presented here Wahlberg Company Income Statement For the Year Ended December 31 2020 2010 Net sales $1,816,600 $1,750,100 Cost of goods sold 1,010,700 982,000 Gross proft 805,000 768,100 Selling and administrative 518,600 475,000 expenses Income from 287,300 292.500 operations Other expenses and lowes Interest 19,000 13,900 Income before income taxes 268,300 278,600 Income tax expense 81,196 76,900 Net Income $ 187,104 $ 200,00 2019 Wahlberg Company Balance Sheets December 31 Assets 2920 Currents Cash $60,100 Debestments (short-term) 6.100 116,200 Inventory 123,200 Total current 367,600 597,700 Total assets 65,00 Labtes and Stockholders $63,500 49,900 101,100 114,200 326,700 520,800 $649.500 Accounts payable Income pable $160,300 43,800 $145,100 42,900 204,100 220,000 424,100 Bonds payable Total Suity Common stock (15 155,000 200,000 188.000 Retained earrings Total wholders 281,300 250.000 545,200 303.400 154,100 461,500 5965,300 5549.500 All sales were on account cash provided by operating activities for 2020 was 244,000. Capital expenditures were $140,000, and cash dividends were $55,304 Compute the following for 2020. Round Earnings per shares Current rate and server to deal places 1.65 16:1, and all other (a) Earnings per share 32 (b) Rammstein out ()
please help thanks!

Answer 1

a a) Earning per share 11 Net income Shares outstanding = $187,104 56260 3.33 Retun on common stockholders equity EBIT/Stock holders equity b) = $187,104 / $541,200 = 34.57% c) Return on assets = Net income Total assets - $187,104 $965,300 11 19.38%

d) Current ratio Current assets Current liabilitiees II $367,600 $204,100 II 1.80

e) Accounts receivable turnover II Net annual credit sales Average accounts receivable $1,816,600 ($116,200 + $101,100)/2 = 16.72 f) Average collection period Average inventory X 365 days Net annual credit sales = ($123,200 + $114,200)/2 X 365 days $1,816,600 23.85 g) Inventory turnover = Net annual credit sales Average inventory = $1,816,600 ($123,200 + $114,200)/2 II 15.3

h) Days in inventory 365 days Inventory turnover 365 15.3 23.86 i) Times interest earned ratio EBIT Interest payable $268,300 $19,000 14.12 j) Debt to asset ratio II Total debt Total assets $424,100 $965,300 43.93% k) Free cash flow Operating cashflow - Capital expenditure $244,000 - $140,000 $104,000 II