Exercise 13-9 Kinder Company
Exercise 13-9 Kinder Company has these comparative balance sheet data:
KINDER COMPANY
Balance Sheets
December 31
2014
Cash
Accounts receivable (net)
Inventory
Plant assets (net)
Accounts payable
Mortgage payable (15%)
Common stock, $10 par
Retained earnings 2013 $ 34,110
159,180
136,440
454,800 $ 68,220
136,440
113,700
409,320 $784,530 $727,680 $ 113,700
227,400
318,360
125,070 $ 136,440
227,400
272,880
90,960 $784,530 $727,680 Additional information for 2014:
1.
2.
3.
4.
5. Net income was $26,300.
Sales on account were $388,000. Sales returns and allowances amounted to $28,500.
Cost of goods sold was $208,000.
Net cash provided by operating activities was $59,000.
Capital expenditures were $28,000, and cash dividends were $18,700. Compute the following ratios at December 31, 2014. (Round all answers to 2 decimal places,
e.g. 1.83.)
(a) Current ratio. :1 (b) Accounts receivable turnover. times (c) Average collection period. days (d) Inventory turnover. times (e) Days in inventory. days (f) Cash debt coverage ratio. times (g) Current cash debt coverage ratio. times
$ (h) Free cash flow.
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Posted 21 Apr 2017 02:04 AM
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