Hyrkas Corporation's most recent balance sheet and income statement appear below:
Balance Sheet |
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December 31, Year 2 and Year 1 |
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(in thousands of dollars) |
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Year 2 |
Year 1 |
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Assets |
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Current assets: |
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Cash |
$ |
235 |
$ |
360 |
||
Accounts receivable, net |
390 |
410 |
||||
Inventory |
360 |
330 |
||||
Prepaid expenses |
20 |
20 |
||||
Total current assets |
1,005 |
1,120 |
||||
Plant and equipment, net |
1,270 |
1,420 |
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Total assets |
$ |
2,275 |
$ |
2,540 |
||
Liabilities and Stockholders' Equity |
||||||
Current liabilities: |
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Accounts payable |
$ |
330 |
$ |
360 |
||
Accrued liabilities |
50 |
50 |
||||
Notes payable, short term |
40 |
40 |
||||
Total current liabilities |
420 |
450 |
||||
Bonds payable |
320 |
570 |
||||
Total liabilities |
740 |
1,020 |
||||
Stockholders’ equity: |
||||||
Common stock, $2 par value |
200 |
200 |
||||
Additional paid-in capital |
330 |
330 |
||||
Retained earnings |
1,005 |
990 |
||||
Total stockholders’ equity |
1,535 |
1,520 |
||||
Total liabilities & stockholders’ equity |
$ |
2,275 |
$ |
2,540 |
||
Income Statement |
|||
For the Year Ended December 31, Year 2 |
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(in thousands of dollars) |
|||
Sales (all on account) |
$ |
1,590 |
|
Cost of goods sold |
1,020 |
||
Gross margin |
570 |
||
Selling and administrative expense |
505 |
||
Net operating income |
65 |
||
Interest expense |
20 |
||
Net income before taxes |
45 |
||
Income taxes (30%) |
14 |
||
Net income |
$ |
31 |
|
Dividends on common stock during Year 2 totaled $16 thousand. The market price of common stock at the end of Year 2 was $12.00 per share.
Required:
Compute the following for Year 2:
e. Dividend yield ratio. (Round your "Percentage" answer to 2 decimal places.)
f. Return on total assets. (Do not round intermediate calculations. Round your "Percentage" answer to 2 decimal places.)
g. Return on equity. (Round your "Percentage" answer to 2 decimal places.)
h. Book value per share. (Round your answer to 2 decimal places.)
i. Working capital. (Input your answer in thousands of dollars.)
j. Current ratio. (Round your answer to 2 decimal places.)
k. Acid-test (quick) ratio. (Round your answer to 2 decimal places.)
l. Accounts receivable turnover. (Round your answer to 2 decimal places.)
m. Average collection period. (Use 365 days in a year. Do not round intermediate calculations. Round your answer to 1 decimal place.)
n. Inventory turnover. (Round your answer to 2 decimal places.)
o. Average sale period. (Use 365 days in a year. Do not round intermediate calculations. Round your answer to 1 decimal place.)
p. Times interest earned ratio. (Round your answer to 2 decimal places.)
q. Debt-to-equity ratio. (Round your answer to 2 decimal places.)
(1)
number of shares = $200000/$2 = 100000 shares
dividend per share = $16000/100000 = $0.16 per share
Dividend yield ratio = dividend per share/market price per share
= $0.16/$12
= 1.33%
(2)
return on total assets = earning before interest & taxes/average total assets
= $65000/{($2275000 + $2540000)/2}
= 2.70%
(3)
Return on equity = net income/average shareholders equity
= $31000/{($1535000 + $1520000)/2}
= 2.03%
(4)
Book value per share = (total stockholders equity - preferred stock)/number of common stock
= ($1535000 - $0)/100000
= $15.35
Hyrkas Corporation's most recent balance sheet and income statement appear below: Balance Sheet December 31, Year...
Hyrkas Corporation's most recent balance sheet and income statement appear below: Balance Sheet December 31, Year 2 and Year 1 (in thousands of dollars) Year 2 Year 1 Assets Current assets: Cash $ 235 $ 360 Accounts receivable, net 390 410 Inventory 360 330 Prepaid expenses 20 20 Total current assets 1,005 1,120 Plant and equipment, net 1,270 1,420 Total assets $ 2,275 $ 2,540 Liabilities and Stockholders' Equity Current liabilities: Accounts payable $ 330 $ 360 Accrued liabilities 50...
Hyrkas Corporation's most recent balance sheet and income statement appear below: Balance Sheet December 31, Year 2 and Year 1 (in thousands of dollars) Year 2 Year 1 Assets Current assets: Cash $ 170 $ 230 Accounts receivable, net 260 280 Inventory 230 200 Prepaid expenses 20 20 Total current assets 680 730 Plant and equipment, net 880 900 Total assets $ 1,560 $ 1,630 Liabilities and Stockholders' Equity Current liabilities: Accounts payable $ 200 $ 230 Accrued liabilities 50...
Hyrkas Corporation's most recent balance sheet and income statement appear below: Balance Sheet December 31, Year 2 and Year 1 (in thousands of dollars) Year 2 Year 1 Assets Current assets: Cash $ 205 $ 300 Accounts receivable, net 330 350 Inventory 300 270 Prepaid expenses 20 20 Total current assets 855 940 Plant and equipment, net 1,090 1,180 Total assets $ 1,945 $ 2,120 Liabilities and Stockholders' Equity Current liabilities: Accounts payable $ 270 $ 300 Accrued liabilities 50...
Hyrkas Corporation's most recent balance sheet and income statement appear below: Balance Sheet December 31, Year 2 and Year 1 (in thousands of dollars) Year 2 Year 1 Assets $ 340 390 310 Current assets Cash Accounts receivable, net Inventory Prepaid expenses Total current assets Plant and equipment, net Total assets $ 225 370 340 20 955 1,210 $2,165 1.060 1,340 $2,400 $ 310 50 $ 340 50 40 400 300 Liabilities and stockholders' Equity Current liabilities Accounts payable Accrued...
Hyrkas Corporation's most recent balance sheet and income statement appear below: Balance Sheet December 31, Year 2 and Year 1 (in thousands of dollars) Year 2 Year 1 Assets Current assets: Cash $ 170 $ 230 Accounts receivable, net 260 280 Inventory 230 200 Prepaid expenses 20 20 Total current assets 680 730 Plant and equipment, net 880 900 Total assets $ 1,560 $ 1,630 Liabilities and Stockholders' Equity Current liabilities: Accounts payable $ 200 $ 230 Accrued liabilities 50...
Hyrkas Corporation's most recent balance sheet and income statement appear below: Balance Sheet December 31, Year 2 and Year 1 (in thousands of dollars) Year 2 Year 1 Assets Current assets: Cash $ 180 $ 250 Accounts receivable, net 280 300 Inventory 250 220 Prepaid expenses 20 20 Total current assets 730 790 Plant and equipment, net 940 980 Total assets $ 1,670 $ 1,770 Liabilities and Stockholders' Equity Current liabilities: Accounts payable $ 220 $ 250 Accrued liabilities 50...
Hyrkas Corporation's most recent balance sheet and income statement appear below: Balance Sheet December 31, Year 2 and Year 1 (in thousands of dollars) Year 2 Year 1 Assets $ $ 225 370 340 340 390 310 Current assets: Cash Accounts receivable, net Inventory Prepaid expenses Total current assets Plant and equipment, net Total assets 20 955 1,210 $2,165 20 1,060 1,340 $2,400 $ $ 340 310 50 Liabilities and Stockholders' Equity Current liabilities: Accounts payable Accrued liabilities Notes payable,...
Hyrkas Corporation's most recent balance sheet and income statement appear below: Balance Sheet December 31, Year 2 and Year 1 (in thousands of dollars) Year 2 Year 1 Assets Current assets: Cash Accounts receivable, net Inventory Prepaid expenses $ 155200 250 170 20 640 780 230 200 20 605 790 Total current assets Plant and equipment, net Total assets $1,395 $1,420 Liabilities and Stockholders' Equity Current liabilities: $ 170 200 50 40 290 190 480 Accounts payable Accrued liabilities Notes...
Hyrkas Corporation's most recent balance sheet and income statement appear below: Balance Sheet December 31, Year 2 and Year 1 (in thousands of dollars) Year 2 Year 1 Assets Current assets: Cash Accounts receivable, net Inventory Prepaid expenses $ 200 320 290 20 830 1,060 $1,890 $ 290 340 260 20 910 1,140 $2,050 Total current assets Plant and equipment, net Total assets Liabilities and Stockholders' Equity Current liabilities: $ 260 50 40 350 250 600 $ 290 50 40...
Freiman Corporation's most recent balance sheet and income statement appear below: Balance Sheet December 31, Year 2 and Year 1 (in thousands of dollars) Year 2 Year 1 Assets Current assets: Cash $ 170 $ 130 Accounts receivable, net 245 265 Inventory 130 140 Prepaid expenses 45 45 Total current assets 590 580 Plant and equipment, net 750 750 Total assets $ 1,340 $ 1,330 Liabilities and Stockholders' Equity Current liabilities: Accounts payable $ 140 $ 160 Accrued liabilities 95...