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Category > Business & Finance Posted 18 Aug 2017 My Price 8.00

Ratio computation. The financial statements of the Lone Pine Company follow.

Ratio computation. The financial statements of the Lone Pine Company follow.

LONE PINE COMPANY 
Comparative Balance Sheets
December 31, 20X2 and 20X1 ($000 Omitted)

20X2

20X1

Assets

Current Assets

Cash and Short-Term Investments

$ 1,400

$ 1,400

Accounts Receivable (net)

4,000

3,200

Inventories

__9,400

__7,600

Total Current Assets

$2,700

$1,400

Property, Plant, and Equipment

Land

$2,500

$ 1,400

Buildings and Equipment (net)

__2,500

__1,800

Total Property, Plant, and Equipment

$5,200

$3,200

Total Assets

$14,600

$10,800

Liabilities and Stockholders' Equity

Current Liabilities

Accounts Payable

$2,800

$2,500

Notes Payable

__2,100

__2,700

Total Current Liabilities

$3,900

$4,400

Long-Term Liabilities

Bonds Payable

5,100

2,900

Total Liabilities

$9,000

$7,300

Stockholders' Equity

Common Stock

$ 1,200

$ 1,000

Retained Earnings

__1,200

__1,000

Total Stockholders' Equity

$5,600

$3,500

Total Liabilities and Stockholders' Equity

$14,600

$10,800

 

 

LONE PINE COMPANY 
Statement of Income and Retained Earnings
For the Year Ending December 31,20X2 ($000 Omitted)
 

Net Sales*

$39,000
 

Less: Cost of Goods Sold

$20,000
 

Selling Expense

6,000
 

Administrative Expense

4,000
 

Interest Expense

400
 

Income Tax Expense

__2,000

_32,400
 

Net Income

$ 3,600
 

Retained Earnings, Jan. 1

___900
 

$ 4,500
 

Cash Dividends Declared and Paid

__3,100
 

Retained Earnings, Dec. 31

$ 1,400
 

*All sales are on account.

Questions

YOUR ANSWERS BASED UPON COURSE START DATE

Compute the following items for Lone Pine Company for 20X2, rounding all calculations to two decimal places and do nt insert a percent symbol.

    Quick ratio

  

    Current ratio

  

    Inventory-turnover ratio

  

    Accounts-receivable-turnover ratio

  

    Return-on-assets ratio

  

    Net-profit-margin ratio

  

    Return-on-common-stockholders' equity

  

    Debt-to-total assets

  

    Number of times that interest is earned

  

    Dividend payout rate

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Martinakom
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Status NEW Posted 18 Aug 2017 04:08 PM My Price 8.00

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