eBookCalculatorPrint ItemFive Measures of Solvency or ProfitabilityThe balance sheet for Garcon Inc. at the end of the current fiscal year indicated the following:Bonds payable, 8%$5,000,000Preferred $4 stock, $50 par2,500,000Common stock, $10 par5,000,000Income before income tax was $3,000,000, and income taxes were $1,200,000 for the current year. Cash dividends paid on common stock duringthe current year totaled $1,200,000. The common stock was selling for $32 per share at the end of the year.Determine each of the following. Round to one decimal place, except for dollar amounts which should be rounded to the nearest whole cent. Use therounded answers for subsequent requirements, if required.a. Times interest earned ratiotimesb. Earnings per share on common stockc. Price-earnings ratiod. Dividends per share of common stocke. Dividend yield%Check My WorkPreviousNextAll work saved.Save and ExitSubmit Assignment for Grading

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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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Balance sheet and income statement data indicate the following: Bonds payable, 10% (due in two years) $878,000 Preferred 5% stock, $100 par (no change during year) 247,000 Common stock, $50 par (no change during year) 2,192,000 Income before income tax for year 322,000 Income tax for year 80,000 Common dividends paid 109,600 Preferred dividends paid 12,350 Based on the data presented, what is the times interest earned ratio (rounded to one decimal place)? a.3.7 b.4.7 c.2.7 d.6.3
Six Measures of Solvency or Profitability The following data were taken from the financial statements of Loveseth Inc. for the current fiscal year. Property, plant, and equipment (net) $1,239,600 Liabilities: Current liabilities $206,000 Note payable, 6%, due in 15 years 1,033,000 Total liabilities $1,239,000 Stockholders' equity: Preferred $4 stock, $100 par (no change during year) $929,250 Common stock, $10 par (no change during year) 929,250 Retained earnings: Balance, beginning of year $992,000 Net income 396,000 $1,388,000 Preferred dividends $37,170 Common dividends 111,830 149,000 Balance, end of year 1,239,000 Total stockholders' equity $3,097,500 Sales $28,329,275 Interest expense $61,980
Current Position Analysis The following data were taken from the balance sheet of Albertini Company at the end of two recent fiscal years: Current Year Previous Year Current assets: Cash $506,200 $384,000 Marketable securities 586,100 432,000 Accounts and notes receivable (net) 239,700 144,000 Inventories 928,000 702,700 Prepaid expenses 478,000 449,300 Total current assets $2,738,000 $2,112,000 Current liabilities: Accounts and notes payable (short-term) $429,200 $448,000 Accrued liabilities 310,800 192,000 Total current liabilities $740,000 $640,000 a. Determine for each year (1) the working capital, (2) the current ratio, and (3) the quick ratio. Round ratios to one decimal place. Current Year Previous Year 1. Working capital $fill in the blank 1 $fill in the blank 2 2. Current ratio fill in the blank 3 fill in the blank 4…
Current Position Analysis The following data were taken from the balance sheet of Nilo Company at the end of two recent fiscal years: Current Year Previous Year Current assets: Cash $308,600 $240,000 Marketable securities 357,300 270,000 Accounts and notes receivable (net) 146,100 90,000 Inventories 689,000 427,000 Prepaid expenses 355,000 273,000 Total current assets $1,856,000 $1,300,000 Current liabilities: Accounts and notes payable (short-term) $336,400 $350,000 Accrued liabilities 243,600 150,000 Total current liabilities $580,000 $500,000 a. Determine for each year (1) the working capital, (2) the current ratio, and (3) the quick ratio. Round ratios to one decimal place. Current Year Previous Year 1. Working capital $fill in the blank 1 $fill in the blank 2 2. Current ratio fill in the blank 3 fill in the blank 4 3.…
Projected Spontaneous Liabilities Smiley Corporation's current sales and partial balance sheet are shown below. This year Sales $ 10,000 Balance Sheet: Liabilities Accounts payable $ 1,500 Notes payable $ 2,500 Accruals $ 1,800 Total current liabilities $ 5,800 Long-term bonds $ 2,000 Total liabilities $ 7,800 Common stock $ 1,500 Retained earnings $ 2,000 Total common equity $ 3,500 Total liabilities & equity $ 11,300 Sales are expected to grow by 8% next year. Assuming no change in operations from this year to next year, what are the projected spontaneous liabilities? Do not round intermediate calculations. Round your answer to the nearest dollar. $
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Solvency
Projected Spontaneous Liabilities Smiley Corporation's current sales and partial balance sheet are shown below. This year Sales $ 10,000 Balance Sheet: Liabilities Accounts payable $ 1,500 Notes payable $ 3,000 Accruals $ 1,600 Total current liabilities $ 6,100 Long-term bonds $ 2,000 Total liabilities $ 8,100 Common stock $ 2,000 Retained earnings $ 3,000 Total common equity $ 5,000 Total liabilities & equity $ 13,100 Sales are expected to grow by 12% next year. Assuming no change in operations from this year to next year, what are the projected spontaneous liabilities? Do not round intermediate calculations. Round your answer to the nearest dollar.
Projected Spontaneous Liabilities Smiley Corporation's current sales and partial balance sheet are shown below. This year Sales $ 10,000 Balance Sheet: Liabilities Accounts payable $ 1,500 Notes payable $ 3,000 Accruals $ 1,600 Total current liabilities $ 6,100 Long-term bonds $ 2,000 Total liabilities $ 8,100 Common stock $ 2,000 Retained earnings $ 3,000 Total common equity $ 5,000 Total liabilities & equity $ 13,100 Sales are expected to grow by 12% next year. Assuming no change in operations from this year to next year, what are the projected spontaneous liabilities? Do not round intermediate calculations. Round your answer to the nearest dollar. Answer is not 6832.
Projected Spontaneous Liabilities Smiley Corporation's current sales and partial balance sheet are shown below. This year Sales $ 10,000 Balance Sheet: Liabilities Accounts payable $ 1,000 Notes payable $ 2,500 Accruals $ 1,600 Total current liabilities $ 5,100 Long-term bonds $ 2,000 Total liabilities $ 7,100 Common stock $ 1,000 Retained earnings $ 2,000 Total common equity $ 3,000 Total liabilities & equity $ 10,100 Sales are expected to grow by 10% next year. Assuming no change in operations from this year to next year, what are the projected spontaneous liabilities? Do not round intermediate calculations. Round your answer to the nearest dollar. $
Five Measures of Solvency or Profitability The balance sheet for Bearing Industries Inc. at the end of the current fiscal year indicated the following: Bonds payable, 7% $1,400,000 320,000 Preferred $5 stock, $100 par Common stock, $12 par 600,000 Income before income tax was $254,800, and income taxes were $38,800, for the current year. Cash dividends paid on common stock during the current year totaled $30,000. The common stock was selling for $40 per share at the end of the year. Determine each of the following. Round answers to one decimal place, except for dollar amounts which should be rounded to the nearest whole cent. Use the rounded answers for subsequent requirements, if required. a. Times interest earned ratio b. Earnings per share on common stock c. Price-earnings ratio d. Dividends per share of common stock e. Dividend yield $ $ times %

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