Assets Current assets Cash Debt investments Accounts receivable Inventory Total current assets Plant assets (net) Total assets Liabilities and Stockholders' Equity Current liabilities Accounts payable Income taxes payable Total current liabilities JETSON COMPANY Balance Sheets December 31 Bonds payable Total liabilities Stockholders' equity Common stock ($10 par) Retained earnings Total stockholders' equity Total liabilities and stockholders' equity 2014 $ 23,100 44,800 106,200 116,400 290,500 485,300 $775,800 $138,200 25,300 163,500 132,000 295,500 150,000 330,300 480,300 $775,800 2013 $ 21,600 33,000 83,800 74,000 212,400 439,600 $652,000 $132,000 24,000 156,000 120,000 276,000 130,000 246,000 376,000 $652.000 All sales were on account. Net cash provided by operating activities was $108,000. Capital expenditures were $47,000, and cash dividends were $30,900.

Assets Current assets Cash Debt investments Accounts receivable Inventory Total current assets Plant assets (net) Total assets Liabilities and Stockholders' Equity Current liabilities Accounts payable Income taxes payable Total current liabilities JETSON COMPANY Balance Sheets December 31 Bonds payable Total liabilities Stockholders' equity Common stock ($10 par) Retained earnings Total stockholders' equity Total liabilities and stockholders' equity 2014 $ 23,100 44,800 106,200 116,400 290,500 485,300 $775,800 $138,200 25,300 163,500 132,000 295,500 150,000 330,300 480,300 $775,800 2013 $ 21,600 33,000 83,800 74,000 212,400 439,600 $652,000 $132,000 24,000 156,000 120,000 276,000 130,000 246,000 376,000 $652.000 All sales were on account. Net cash provided by operating activities was $108,000. Capital expenditures were $47,000, and cash dividends were $30,900.

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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Question

Compute the following ratios for 2014 . (a) Earnings per share. (b) Return on common stockholders' equity?

answer with working

Assets
Current assets
Cash
Debt investments
Accounts receivable
Inventory
Total current assets
Plant assets (net)
Total assets
JETSON COMPANY
Balance Sheets
December 31
Liabilities and Stockholders' Equity
Current liabilities
Accounts payable
Income taxes payable
Total current liabilities
Bonds payable
Total liabilities
Stockholders' equity
Common stock ($10 par)
Retained earnings
Total stockholders' equity
Total liabilities and stockholders' equity
2014
$ 23,100
44,800
106,200
116,400
290,500
485,300
$775,800
$138,200
25,300
163,500
132,000
295,500
150,000
330,300
480,300
$775,800
2013
$ 21,600
33,000
83,800
74,000
212,400
439,600
$652,000
$132,000
24,000
156,000
120,000
276,000
130,000
246,000
376,000
$652.000
All sales were on account. Net cash provided by operating activities was $108,000.
Capital expenditures were $47,000, and cash dividends were $30,900.
Instructions

Definition Definition Assets available to stockholders after a company's liabilities are paid off. Stockholders’ equity is also sometimes referred to as owner's equity. A stockholders’ equity or book value generally includes common stock, preferred stock, and retained earnings and is an indicator of a company's financial strength.

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