Homework Help is Here – Start Your Trial Now!
Business
Accounting
Comparative financial statements for Weller Corporation, a merchandising company, for the year ending December 31 appear below. The company did not issue any new common stock during the year. A total of 800,000 shares of common stock were outstanding. The interest rate on the bond payable was 12%, the income tax rate was 40%, and the dividend per share of common stock was $0.75 last year and $0.40 this year. The market value of the company's common stock at the end of this year was $18. All of the company's sales are on account Assets Current assets: Cash Weller Corporation Comparative Balance Sheet (dollars in thousands) Accounts receivable, net Inventory Prepaid expenses Total current assets Property and equipment: Land Buildings and equipment, net Total property and equipment Total assets Liabilities and Stockholders' Equity Current liabilities: Accounts payable Accrued liabilities Notes payable, short tere Total current liabilities Long-term liabilities: Bonds payable Total liabilities Stockholders equity Common stock Additional pald-in capital Total paid-in capital Retained earnings Total stockholders equity Total liabilities and stockholders' equity sales This Year Last Year $ 1,288 12,300 9,700 1,800 25,000 6,000 19,200 25,200 $ 50,280 $9,500 600 300 10,400 5,000 15,400 200 4,200 5,000 29,880 $ 1,560 9,100 8,200 2,100 20,960 Weller Corporation Comparative Income Statement and Reconciliation (dollers in thousands) 6,000 19,000 25,000 $ 45,960 $ 8,300 700 300 9,300 5,000 14,300 800 4,200 5,000 26,660 34,800 31,660 $ 50,260 $ 45,960 Check my w This Year Last Year

Comparative financial statements for Weller Corporation, a merchandising company, for the year ending December 31 appear below. The company did not issue any new common stock during the year. A total of 800,000 shares of common stock were outstanding. The interest rate on the bond payable was 12%, the income tax rate was 40%, and the dividend per share of common stock was $0.75 last year and $0.40 this year. The market value of the company's common stock at the end of this year was $18. All of the company's sales are on account Assets Current assets: Cash Weller Corporation Comparative Balance Sheet (dollars in thousands) Accounts receivable, net Inventory Prepaid expenses Total current assets Property and equipment: Land Buildings and equipment, net Total property and equipment Total assets Liabilities and Stockholders' Equity Current liabilities: Accounts payable Accrued liabilities Notes payable, short tere Total current liabilities Long-term liabilities: Bonds payable Total liabilities Stockholders equity Common stock Additional pald-in capital Total paid-in capital Retained earnings Total stockholders equity Total liabilities and stockholders' equity sales This Year Last Year $ 1,288 12,300 9,700 1,800 25,000 6,000 19,200 25,200 $ 50,280 $9,500 600 300 10,400 5,000 15,400 200 4,200 5,000 29,880 $ 1,560 9,100 8,200 2,100 20,960 Weller Corporation Comparative Income Statement and Reconciliation (dollers in thousands) 6,000 19,000 25,000 $ 45,960 $ 8,300 700 300 9,300 5,000 14,300 800 4,200 5,000 26,660 34,800 31,660 $ 50,260 $ 45,960 Check my w This Year Last Year

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
See similar textbooks
icon
Related questions
Question
mecser 4 Assets Current assets: Cash Weller Corporation Comparative Balance Sheet (dollars in thousands) Accounts receivable, net Inventory Prepaid expenses Total current assets Property and equipment: Land Buildings and equipment, net Total property and equipment Total assets Comparative financial statements for Weller Corporation, a merchandising company, for the year ending December 31 appear below. The company did not issue any new common stock during the year. A total of 800,000 shares of common stock were outstanding. The interest rate on the bond payable was 12%, the income tax rate was 40%, and the dividend per share of common stock was $0.75 last year and $0.40 this year. The market value of the company's common stock at the end of this year was $18. All of the company's sales are on account Liabilities and Stockholders' Equity Current liabilities: Accounts payable Accrued liabilities Notes payable, short term Total current liabilities Long-term liabilities: Bonds payable Total liabilities Stockholders Common stock equity Additional pald-in capital Total pald-in capital Retained earnings Total stockholders' equity Total liabilities and stockholders Saved Sales Cost of soods sold: This Year Last Year $1,280 12,300 9,700 1,800 25,000 6,000 19,200 25,200 $ 50,200 $9,500 600 300 10,400 15,400 800 4,200 5.000 29,800 34,800 $ 50,260 equity Weller Corporation Comparative Income Statement and Reconciliation (dollars in thousands) This Year $ 79,000 52.000 $1,560 9,100 8,200 2,100 20,960 6,000 19,000 25,000 $ 45,960 $ 8,100 700 300 9,300 5,000 14,300 800 4,200 5,000 26,640 31,660 $ 45,960 Help Last Year $ 24,000 40,000 Save & Exit Subr Check my work
Transcribed Image Text:mecser 4 Assets Current assets: Cash Weller Corporation Comparative Balance Sheet (dollars in thousands) Accounts receivable, net Inventory Prepaid expenses Total current assets Property and equipment: Land Buildings and equipment, net Total property and equipment Total assets Comparative financial statements for Weller Corporation, a merchandising company, for the year ending December 31 appear below. The company did not issue any new common stock during the year. A total of 800,000 shares of common stock were outstanding. The interest rate on the bond payable was 12%, the income tax rate was 40%, and the dividend per share of common stock was $0.75 last year and $0.40 this year. The market value of the company's common stock at the end of this year was $18. All of the company's sales are on account Liabilities and Stockholders' Equity Current liabilities: Accounts payable Accrued liabilities Notes payable, short term Total current liabilities Long-term liabilities: Bonds payable Total liabilities Stockholders Common stock equity Additional pald-in capital Total pald-in capital Retained earnings Total stockholders' equity Total liabilities and stockholders Saved Sales Cost of soods sold: This Year Last Year $1,280 12,300 9,700 1,800 25,000 6,000 19,200 25,200 $ 50,200 $9,500 600 300 10,400 15,400 800 4,200 5.000 29,800 34,800 $ 50,260 equity Weller Corporation Comparative Income Statement and Reconciliation (dollars in thousands) This Year $ 79,000 52.000 $1,560 9,100 8,200 2,100 20,960 6,000 19,000 25,000 $ 45,960 $ 8,100 700 300 9,300 5,000 14,300 800 4,200 5,000 26,640 31,660 $ 45,960 Help Last Year $ 24,000 40,000 Save & Exit Subr Check my work
4 ஈட்டியயாடிய வாய்கும் Total stockholders' equity Total liabilities and stockholders' equity Sales Cost of goods sold Gross margin Selling and administrative expenses: Selling expenses Weller Corporation Comparative Income Statement and Reconciliation (dollars in thousands) Administrative expenses Total selling and administrative expenses Net operating income Interest expense Net Income before taxes Income taxes Net income Dividends to common stockholders Net income added to retained earnings Beginning retained earnings Ending retained earnings. Required: Compute the following financial ratios for this year: 34,880 $ 50,280 1. Times interest earned ratio 2 Debt-to-equity ratio 3 Equity multiplier This Year $ 79,000 52,000 27,000 8,500 12,000 20,500 6,500 600 5,900 2,360 3,540 320 3,220 26,660 $ 29,800 1. Times interest earned ratio 2 Debt-to-equity ratio 3. Equity multiplier. (For all requirements, round your answers to 2 decimal places.) 31,660 $ 45,960 Last Year $ 74,000 48,000 26,000 8,000 11,000 19,000 7,000 600 6,400 2,560 3,840 600 3,240 23,420 $ 26,660
Transcribed Image Text:4 ஈட்டியயாடிய வாய்கும் Total stockholders' equity Total liabilities and stockholders' equity Sales Cost of goods sold Gross margin Selling and administrative expenses: Selling expenses Weller Corporation Comparative Income Statement and Reconciliation (dollars in thousands) Administrative expenses Total selling and administrative expenses Net operating income Interest expense Net Income before taxes Income taxes Net income Dividends to common stockholders Net income added to retained earnings Beginning retained earnings Ending retained earnings. Required: Compute the following financial ratios for this year: 34,880 $ 50,280 1. Times interest earned ratio 2 Debt-to-equity ratio 3 Equity multiplier This Year $ 79,000 52,000 27,000 8,500 12,000 20,500 6,500 600 5,900 2,360 3,540 320 3,220 26,660 $ 29,800 1. Times interest earned ratio 2 Debt-to-equity ratio 3. Equity multiplier. (For all requirements, round your answers to 2 decimal places.) 31,660 $ 45,960 Last Year $ 74,000 48,000 26,000 8,000 11,000 19,000 7,000 600 6,400 2,560 3,840 600 3,240 23,420 $ 26,660
Expert Solution
trending now

Trending now

This is a popular solution!

steps

Step by step

Solved in 4 steps

SEE SOLUTIONCheck out a sample Q&A here
Blurred answer
Similar questions
Recommended textbooks for you
FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
Accounting
ISBN:
9781259964947
Author:
Libby
Publisher:
MCG
Accounting
Accounting
Accounting
ISBN:
9781337272094
Author:
WARREN, Carl S., Reeve, James M., Duchac, Jonathan E.
Publisher:
Cengage Learning,
Accounting Information Systems
Accounting Information Systems
Accounting
ISBN:
9781337619202
Author:
Hall, James A.
Publisher:
Cengage Learning,
Horngren's Cost Accounting: A Managerial Emphasis…
Horngren's Cost Accounting: A Managerial Emphasis…
Accounting
ISBN:
9780134475585
Author:
Srikant M. Datar, Madhav V. Rajan
Publisher:
PEARSON
Intermediate Accounting
Intermediate Accounting
Accounting
ISBN:
9781259722660
Author:
J. David Spiceland, Mark W. Nelson, Wayne M Thomas
Publisher:
McGraw-Hill Education
Financial and Managerial Accounting
Financial and Managerial Accounting
Accounting
ISBN:
9781259726705
Author:
John J Wild, Ken W. Shaw, Barbara Chiappetta Fundamental Accounting Principles
Publisher:
McGraw-Hill Education
SEE MORE TEXTBOOKS