LAKELAND CORPORATION LAKELAND CORPORATION Balance Shoet Statement of Income and Retained Earnings December 31, Yewr S and Year 4 For Years Ended December 31, Year 5 and Yeur 4 Year S Tear 4 Year 5 Year 4 Assets Current assets Cash Revenues $ 1.610,.000 510,000 $ 1.387,000 Net sales $48,400,000 $41,700,000 Marketable securities Accounts receivable, less allowance for bad debts Royalties Interest 70,000 25,000 4.075.000 7.250.000 125.000 30,000 Year 5, $125,000, Year 4, $110,00 Inventories, at lower of cost or market Prepaid epenses 3,669.000 7,050,000 218.000 Total revenues $18,500,000 $41,725,000 12.324.000 Cests and expenses Tetal cument assets Plant and equipment, at cost Land and buildings Machinery and equipment 13.570.000 Cost of sales. Selling, general, and administrative Interest on 5% sinking fund debentures Provision for federal income taxes $31,460,000 $29,190,000 13.500,000 9.250.000 11.500.000 RS20.000 12,090,000 8,785,000 300,000 1,695,000 275,000 Tatal plant and equipment Less Accumulated depreciation 22.750,000 13470.000 22.020.000 12.549.000 2,315,000 Total costs and expenses $46,140,000 $39,970,000 Tatal plant and equipment-et Lang-term mcelvables.. Delemed charges. 9.280,000 250,000 25,000 9,471.000 250,000 Net income $ 2,360,000 $ 1,755,000 75,000 Total assets $23,125.000 $22.120.000 Retained earnings, beginning of year 7,965,000 6,760,000 $ 8,515,000 Subtotal Dividends paid Preferred stock, $1.00 per share in cash $10,325,000 Liabiles and Sharehalders' Equity Curent liabilities 50,000 50,000 Accounts payable Accrued expenses. Federal taes payable Curent maturities on long term debt $ 2.950,000 LS75.000 875.000 $ 3.4000 1644.000 750,000 500.000 Common stock Cash-$1.00 per share Stock(10%)–50,000 shares at market value of $50 per share 525,000 500,000 500,000 Tatal cument labtes 5.900.000 6.320,000 2,500,000 Other labities 5% sinking fund debentures, due January 1, Year 16 500,000 mdeemable anualy Delemed taes on income, due t depeciation $ 3,075,000 $ 7,250,000 $ 550,000 $ 7,965,000 Total dividends paid . 5,000,000 5.500,000 210.000 Retained earnings, end of year 350,000 Tatal ather labilites 5,350,000 5.710.000 Shamholders equity Prefemed stack, $1 cumulative, $20 par, preference on liquidation $100 per share (authoriond. 100,000 shares issued and outstanding 50,000 shares) Common stack, $1 par (authoriond 900.000 shares; issued and outstanding Yar 5, 550.000 shars Year 4, 500.000 shares) Capital in excess of par value on common stock Retained eamings. Tatal shareholders equity 1,000,000 1,000,000 550,000 3,075.000 1.250,000 500.000 625,000 1.965.000 I1.875.000 10.090.000 Total labilties and shareholders equity $23,125.000 $22.120.000
LAKELAND CORPORATION LAKELAND CORPORATION Balance Shoet Statement of Income and Retained Earnings December 31, Yewr S and Year 4 For Years Ended December 31, Year 5 and Yeur 4 Year S Tear 4 Year 5 Year 4 Assets Current assets Cash Revenues $ 1.610,.000 510,000 $ 1.387,000 Net sales $48,400,000 $41,700,000 Marketable securities Accounts receivable, less allowance for bad debts Royalties Interest 70,000 25,000 4.075.000 7.250.000 125.000 30,000 Year 5, $125,000, Year 4, $110,00 Inventories, at lower of cost or market Prepaid epenses 3,669.000 7,050,000 218.000 Total revenues $18,500,000 $41,725,000 12.324.000 Cests and expenses Tetal cument assets Plant and equipment, at cost Land and buildings Machinery and equipment 13.570.000 Cost of sales. Selling, general, and administrative Interest on 5% sinking fund debentures Provision for federal income taxes $31,460,000 $29,190,000 13.500,000 9.250.000 11.500.000 RS20.000 12,090,000 8,785,000 300,000 1,695,000 275,000 Tatal plant and equipment Less Accumulated depreciation 22.750,000 13470.000 22.020.000 12.549.000 2,315,000 Total costs and expenses $46,140,000 $39,970,000 Tatal plant and equipment-et Lang-term mcelvables.. Delemed charges. 9.280,000 250,000 25,000 9,471.000 250,000 Net income $ 2,360,000 $ 1,755,000 75,000 Total assets $23,125.000 $22.120.000 Retained earnings, beginning of year 7,965,000 6,760,000 $ 8,515,000 Subtotal Dividends paid Preferred stock, $1.00 per share in cash $10,325,000 Liabiles and Sharehalders' Equity Curent liabilities 50,000 50,000 Accounts payable Accrued expenses. Federal taes payable Curent maturities on long term debt $ 2.950,000 LS75.000 875.000 $ 3.4000 1644.000 750,000 500.000 Common stock Cash-$1.00 per share Stock(10%)–50,000 shares at market value of $50 per share 525,000 500,000 500,000 Tatal cument labtes 5.900.000 6.320,000 2,500,000 Other labities 5% sinking fund debentures, due January 1, Year 16 500,000 mdeemable anualy Delemed taes on income, due t depeciation $ 3,075,000 $ 7,250,000 $ 550,000 $ 7,965,000 Total dividends paid . 5,000,000 5.500,000 210.000 Retained earnings, end of year 350,000 Tatal ather labilites 5,350,000 5.710.000 Shamholders equity Prefemed stack, $1 cumulative, $20 par, preference on liquidation $100 per share (authoriond. 100,000 shares issued and outstanding 50,000 shares) Common stack, $1 par (authoriond 900.000 shares; issued and outstanding Yar 5, 550.000 shars Year 4, 500.000 shares) Capital in excess of par value on common stock Retained eamings. Tatal shareholders equity 1,000,000 1,000,000 550,000 3,075.000 1.250,000 500.000 625,000 1.965.000 I1.875.000 10.090.000 Total labilties and shareholders equity $23,125.000 $22.120.000
Essentials Of Investments
11th Edition
ISBN:9781260013924
Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Publisher:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Chapter1: Investments: Background And Issues
Section: Chapter Questions
Problem 1PS
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Answer quickly as soon as possible.
Transcribed Image Text:LAKELAND CORPORATION
LAKELAND CORPORATION
Balance Sheet
Statement of Income and Retained Earnings
December 31, Year 5 and Year 4
For Years Ended December 31, Year 5 and Year 4
Year 5
Year 4
Year 5
Year 4
Assets
Current assets
Revenues
$ 1,610,000
510,000
$ 1,387,000
Cash
Net sales
$48,400,000
70,000
30,000
$41,700,000
Marketable securities
Accounts receivable, less allowance for bad debts
Year 5, $125,000; Year 4, $110,000
Inventories, at lower of cost or market
Royalties.
25,000
4,075,000
Interest
7,250,000
125,000
3,669,000
7,050,000
218,000
Prepaid expenses
Total revenues
$48,500,000
$41,725,000
Costs and expenses
Cost of sales..
Total current assets
13,570,000
12,324,000
Plant and equipment, at cost
Land and buildings..
Machinery and equipment.
$31,460,000
$29,190,000
8,785,000
13,500,000
13,500,000
Selling, general, and administrative
Interest on 5% sinking fund debentures
Provision for federal income taxes
12,090,000
9,250,000
8,520,000
275,000
300,000
Total plant and equipment
Less: Accumulated depreciation
22,750,000
13,470,000
22,020,000
12,549,000
2,315,000
1,695,000
Total costs and expenses
$46,140,000
$39,970,000
Total plant and equipment-net
Long-term receivables
Deferred charges ..
9,280,000
250,000
25,000
9,471,000
250,000
75,000
Net income
$ 2,360,000
$ 1,755,000
Total assets
$23,125,000
$2,120,000
Retained earnings, beginning of year
7,965,000
6,760,000
$ 8,515,000
Subtotal
Dividends paid
Preferred stock, $1.00 per share in cash
Common stock
$10,325,000
Liabilities and Shareholders' Equity
Current liabilities
50,000
50,000
$ 3,426,000
1,644,000
750,000
500,000
$ 2,950,000
1,575,000
Accounts payable
Accrued expenses
Federal taxes payable
Current maturities on long-term debt
Cash $1.00 per share
Stock(10%)-50,000 shares at
market value of $50 per share
875,000
500,000
525,000
500,000
Total current liabilities
Other liabilities
5,900,000
6,320,000
2,500,000
$ 3,075,000
$ 550,000
$ 7,965,000
Total dividends paid .
5% sinking fund debentures, due January 1,
Year 16 ($500,000 redeemable annually
Deferred taxes on income, due to depreciation
5,000,000
350,000
5,500,000
Retained earnings, end of year
$ 7,250,000
210,000
Total other liabilities .
5,350,000
5,710,000
Shareholders' equity
Preferred stock, $1 cumulative, $20 pat, preference
on liquidation $100 per share (authorized: 100,000 shares;
issued and outstanding: 50,000 shares)
Common stock, $1 par (authorized: 900,000 shares;
issued and outstanding: Year 5, 550,000 shares;
Year 4, 500,000 shares)
1,000,000
1,000,000
550,000
500,000
Capital in excess of par value on common stock
Retained eamings..
Total shareholders' equity
3,075,000
7,250,000
625,000
7,965,000
11,875,000
10,090,000
Total liabilities and shareholders' equity
$23,125,000
$2,120,000
Transcribed Image Text:2. Ratio Analysis for Year 4 and 5:
• Net Profit Margin. (Hint: Total Revenues includes other revenues)
• Current Ratio and Quick Ratio
• Debt to Equity Ratio
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