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(a) (b) (c) Earnings per share Return on common stockholders' equity Return on assets O

(a) (b) (c) Earnings per share Return on common stockholders' equity Return on assets O

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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The comparative statements of Cullumber Company are presented here. Net sales Cost of goods sold Gross profit Selling and administrative expenses Income from operations Other expenses and losses. Interest expense Income before income taxes Assets Current assets Income tax expense Net income Cash Debt investments (short-term) Accounts receivable Inventory CULLUMBER COMPANY Income Statements For the Years Ended December 31 Accounts payable Income taxes payable Total current liabilities Bonds payable Total current assets Plant assets (net) Total assets Total liabilities Stockholders' equity Common stock ($5 par) Retained earnings Total stockholders' equity Liabilities and Stockholders' Equity Current liabilities $172,800 $157,032 46,980 237,600 219,780 202,392 457.380 313.200 338,472 45,360 Total liabilities and stockholders' equity $1.109.052 216.000 418,392 324,000 CULLUMBER COMPANY Balance Sheets December 31 178,632 651.672 502.632 2022 $921.024 $1,993,400 1,107,000 886,400 540,000 346,400 23,760 322.640 96.792 $225,848 2022 $1,855,000 $ 64,908 79,920 127,224 136,080 2021 408,132 1,086,480 768,520 517,320 251,200 21,600 229,600 68,880 $160.720 2021 $69,336 54,000 111,024 124,740 359,100 700,920 $1,109,052 $921,024 561,924 All sales were on account. Net cash provided by operating activities for 2022 was $237,600, Capital expenditures were $146,880, and cash dividends were $66.008. Compute the following ratios for 2022. (Round all answers to 2 decimal places, eg. 1.83 or 1.83%)
Transcribed Image Text:The comparative statements of Cullumber Company are presented here. Net sales Cost of goods sold Gross profit Selling and administrative expenses Income from operations Other expenses and losses. Interest expense Income before income taxes Assets Current assets Income tax expense Net income Cash Debt investments (short-term) Accounts receivable Inventory CULLUMBER COMPANY Income Statements For the Years Ended December 31 Accounts payable Income taxes payable Total current liabilities Bonds payable Total current assets Plant assets (net) Total assets Total liabilities Stockholders' equity Common stock ($5 par) Retained earnings Total stockholders' equity Liabilities and Stockholders' Equity Current liabilities $172,800 $157,032 46,980 237,600 219,780 202,392 457.380 313.200 338,472 45,360 Total liabilities and stockholders' equity $1.109.052 216.000 418,392 324,000 CULLUMBER COMPANY Balance Sheets December 31 178,632 651.672 502.632 2022 $921.024 $1,993,400 1,107,000 886,400 540,000 346,400 23,760 322.640 96.792 $225,848 2022 $1,855,000 $ 64,908 79,920 127,224 136,080 2021 408,132 1,086,480 768,520 517,320 251,200 21,600 229,600 68,880 $160.720 2021 $69,336 54,000 111,024 124,740 359,100 700,920 $1,109,052 $921,024 561,924 All sales were on account. Net cash provided by operating activities for 2022 was $237,600, Capital expenditures were $146,880, and cash dividends were $66.008. Compute the following ratios for 2022. (Round all answers to 2 decimal places, eg. 1.83 or 1.83%)
(a) (b) (c) (d) (e) (f) (g) (h) (j) (k) Earnings per share Return on common stockholders' equity Return on assets Current ratio Accounts receivable turnover Average collection period Inventory turnover Days in inventory Times interest earned Asset turnover Debt to assets ratio Free cash flow +A $ % % :1 times days times days. times % times
Transcribed Image Text:(a) (b) (c) (d) (e) (f) (g) (h) (j) (k) Earnings per share Return on common stockholders' equity Return on assets Current ratio Accounts receivable turnover Average collection period Inventory turnover Days in inventory Times interest earned Asset turnover Debt to assets ratio Free cash flow +A $ % % :1 times days times days. times % times
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The ratio analysis helps to anlyse the financial statements of the business. The return on stockholders' equity is calculated as the net income divided by the average stockholders' equity.

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