Homework Answers
| Ratios | Formula | Calculation /Result | |
| 2017 | 2018 | ||
| 1)Profit Margin | Net income /Net sales |
30000/700000 .0429 or 4.29% |
45000/740000 .0608 or 6.08% |
| 2)Asset turnover | Net sales /Average asset invested |
700000/566500 1.24 |
740000/620000 1.19 |
| Earning per share | [Net income -preferred dividend paid if any/weighted average common shares outstanding] |
30000/31000 $ .97 per share |
45000/32000 =$ 1.41 per share |
| Price earning ratio | Market price per share /Earning per share |
5/.97 5.15 |
8/1.41 5.67 |
| Payout ratio | Dividend /Net income |
18000/30000 60% |
25000/45000 55.56% |
| Debt to asset ratio | Total liabilities /total asset |
[80000+85000]/600000 165000/600000 27.5% |
[75000+80000]/640000 155000/640000 24.22% |
Working :
2)Average asset invested = [Beginning asset +ending asset] /2
2017= [533000+600000]/ 2 =566500
2018 = [600000+640000]/2 = 620000
5)Dividend Paid =Beginning retained earning +Net income in current year -ending retained earning
2017 = 113000+30000-125000 = 18000
2018= 125000+45000-145000= 25000
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96,000
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$79,100
$70,300
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145,700
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312,000
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Balance Sheets
December 31
2020
2019
2018
Cash
$ 29,300
$ 17,300
$ 17,000
Accounts receivable (net)
49,900
44,100
47,800
Other current assets
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Investments
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70,200
45,600
Plant and equipment (net)
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370,600
358,000
$726,000
$598,200
$532,300
Current liabilities
$84,800
$79,100
$70,300
Long-term debt
145,700
85,900
50,800
Common stock, $10 par
348,000
320,000
312,000
Retained earnings
147,500
113,200
99,200
$726,000
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