Please answer accounting question correctly **Vaughn Company Financial Statements Overview**### Income Statements for the Years Ended December 31**2022**- **Net Sales**: $1,813,300- **Cost of Goods Sold**: $1,010,100- **Gross Profit**: $803,200- **Selling and Administrative Expenses**: $512,200- **Income from Operations**: $291,000- **Other Expenses and Losses**: - Interest Expense: $18,700- **Income Before Income Taxes**: $272,300- **Income Tax Expense**: $82,022- **Net Income**: $190,278**2021**- **Net Sales**: $1,745,300- **Cost of Goods Sold**: $994,000- **Gross Profit**: $751,300- **Selling and Administrative Expenses**: $481,600- **Income from Operations**: $269,700- **Other Expenses and Losses**: - Interest Expense: $14,000- **Income Before Income Taxes**: $255,700- **Income Tax Expense**: $77,800- **Net Income**: $177,900---### Balance Sheets as of December 31#### Assets**2022**- **Current Assets**: - Cash: $59,500 - Debt Investments (Short-term): $70,800 - Accounts Receivable (Net): $117,900 - Inventory: $123,000 - **Total Current Assets**: $371,200- **Plant Assets (Net)**: $600,700- **Total Assets**: $971,900**2021**- **Current Assets**: - Cash: $64,500 - Debt Investments (Short-term): $50,500 - Accounts Receivable (Net): $101,500 - Inventory: $115,600 - **Total Current Assets**: $332,100- **Plant Assets (Net)**: $516,300- **Total Assets**: $848,400#### Liabilities and Stockholders’ Equity**2022**- **Current Liabilities**: - Accounts Payable: $159,000 - Income Taxes Payable: $42 ### Financial Analysis for 2022**All sales were on credit. Net cash provided by operating activities for 2022 was $216,000. Capital expenditures were $132,000, and cash dividends paid were $79,678.**Compute the following ratios for 2022. *(Round Earnings per share, Current ratio, and Asset turnover to 2 decimal places, e.g. 1.65 or 1.65:1, and all other answers to 1 decimal place, e.g. 6.8 or 6.8%.) Use 365 days for calculation.*#### Financial Ratios(a) **Earnings per share** $(b) **Return on common stockholders' equity** %(c) **Return on assets** %(d) **Current ratio** :1(e) **Accounts receivable turnover** times(f) **Average collection period** days(g) **Inventory turnover** times(h) **Days in inventory** days(i) **Times interest earned** times(j) **Asset turnover** times(k) **Debt to assets ratio** %(l) **Free cash flow** $These financial ratios are essential in assessing a company's performance and financial health over the fiscal year 2022.

Ratio analysis helps in measuring and analyzing the financial position of the business entity.

All sales were on credit. Net cash provided by operating activities for 2022 was $216,000. Capital expenditures were $132,000, and cash dividends paid were $79,678. Compute the following ratios for 2022. (Round Earnings per share, Current ratio and Asset turnover to 2 decimal places, eg. 1.65 or 1.65:1, and all other answers to 1 decimal place, eg. 6.8 or 6.8%. Use 365 days for calculation.) (a) Earnings per share $ (b) Return on common stockholders' equity (c) Return on assets

All sales were on credit. Net cash provided by operating activities for 2022 was $216,000. Capital expenditures were $132,000, and cash dividends paid were $79,678. Compute the following ratios for 2022. (Round Earnings per share, Current ratio and Asset turnover to 2 decimal places, eg. 1.65 or 1.65:1, and all other answers to 1 decimal place, eg. 6.8 or 6.8%. Use 365 days for calculation.) (a) Earnings per share $ (b) Return on common stockholders' equity (c) Return on assets

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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