P13-7 (Algo) Analyzing Financial Statements Using Ratios LO 13-4, 13-6, 13-8 The comparative financial statements for Chinook Company are below Income statement Sales revenue Cost of goods sold Gross profit Operating expenses and interest expense Pretax income Income tax Net income Balance sheet Cash Accounts receivable (net) Inventory Property and equipment (net) Year 2 $ 198,000 114,000 84,000 56,800 27,200 Year 1 $ 169,000 108,800 8,800 $ 18,400 $ 4,800 14,400 40,800 46,200 $ 106,200 $ 16,400 45,400 30,800 13,600 68,200 53,400 14,800 4,400 $ 18,400 $ 7,400 18,400 34,400 38,800 $ 99,000 $ 17,488 45,400 38,800 5,400 Total assets Current liabilities (no interest) Long-term liabilities (interest rate: 18%) Common stock ($5 par value, 6,160 shares outstanding) Retained earnings Total liabilities and stockholders' equity $ 106,200 $ 99,000 Assume that the stock price per share is $32 and that dividends in the amount of $5.50 per share were paid during Year 2. Compute the following ratios: Note: Round your answers to 2 decimal places. Enter percentage answers rounded to 2 decimal places (1.e. 0.1234 should be entered as 12.34). Earnings per share ratio Current ratio Quick ratio Cash ratio Price earnings ratio Dividend yield ratio %

P13-7 (Algo) Analyzing Financial Statements Using Ratios LO 13-4, 13-6, 13-8 The comparative financial statements for Chinook Company are below Income statement Sales revenue Cost of goods sold Gross profit Operating expenses and interest expense Pretax income Income tax Net income Balance sheet Cash Accounts receivable (net) Inventory Property and equipment (net) Year 2 $ 198,000 114,000 84,000 56,800 27,200 Year 1 $ 169,000 108,800 8,800 $ 18,400 $ 4,800 14,400 40,800 46,200 $ 106,200 $ 16,400 45,400 30,800 13,600 68,200 53,400 14,800 4,400 $ 18,400 $ 7,400 18,400 34,400 38,800 $ 99,000 $ 17,488 45,400 38,800 5,400 Total assets Current liabilities (no interest) Long-term liabilities (interest rate: 18%) Common stock ($5 par value, 6,160 shares outstanding) Retained earnings Total liabilities and stockholders' equity $ 106,200 $ 99,000 Assume that the stock price per share is $32 and that dividends in the amount of $5.50 per share were paid during Year 2. Compute the following ratios: Note: Round your answers to 2 decimal places. Enter percentage answers rounded to 2 decimal places (1.e. 0.1234 should be entered as 12.34). Earnings per share ratio Current ratio Quick ratio Cash ratio Price earnings ratio Dividend yield ratio %

Survey of Accounting (Accounting I)

8th Edition

ISBN:9781305961883

Author:Carl Warren

Publisher:Carl Warren

Chapter4: Accounting For Retail Operations

Section: Chapter Questions

Problem 4.9MBA

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Comparative income statements and balance sheets for F&N are shown below ($ millions): Year 2 Year 1 Income Statement $19,889 6,204 Net sales. $20,092 6,044 Cost of goods Gross profit. Selling, general, and administrative expense Depreciation and amortization expense Interest expense (revenue) 14,048 7,893 803 (308) 13,685 9,221 773 292 3,399 1,222 Income before tax 5,660 1,691 Income tax expense. Net income $ 3,969 $ 2,177 Outstanding shares 3,491 3,481
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