Plant assets (net)600,700516,300Total assets$971,900$848,400Liabilities and Stockholders' EquityCurrent liabilitiesAccounts payable$159,000$144,100Income taxes payable42,20041,200Total current liabilities201,200185,300Bonds payable220,000200,000Total liabilities421,200385,300Stockholders' equityCommon stock ($5 par)276,800299,800Retained earnings273,900163,300Total stockholders' equity550,700463,100Total liabilities and stockholders' equity $971,900$848,400All sales were on account. Net cash provided by operating activities for 2020 was $216,000.Capital expenditures were $132,000, and cash dividends were $79,678.Compute the following ratios for 2020. (Round Earnings per share, Current ratio and Assetturnover to 2 decimal places, e.g. 1.65 or 1.65:1, and all other answers to 1 decimalplace, e.g. 6.8 or 6.8%. Use 365 days for calculation.)(a)Earnings per share$(b)Return on common stockholders' equity(c)Return on assets(d)Current ratio:1(e)Accounts receivable turnovertimes(f)Average collection perioddays(g)Inventory turnovertimes(h)Days in inventorydays(i)Times interest earnedtimesG)Asset turnovertimes(k)Debt to assets ratio(1)Free cash flow$ The comparative statements of Wahlberg Company are presented here.2 of 4Wahlberg CompanyIncome StatementFor the Years Ended December 3120202019Net sales$1,813,300$1,745,300Cost of goods sold1,010,100994,000Gross profit803,200751,300Selling and administrative expenses512.200481,600Income from operations291,000269,700Other expenses and lossesInterest expense18,70014,000Income before income taxes272,300255,700Income tax expense82,02277,800Net income$ 190,278$ 177,900Wahlberg CompanyBalance SheetsDecember 31Assets20202019Current assetsCash$59,500$64,500Debt investments (short-term)70,80050,500Accounts receivable117,900101,500Inventory123,000115,600Total current assets371,200332,100Plant assets (net)600,700516,300Total assets$971,900$848,400Liabilities and Stockholders' EquityCurrent liabilitiesAccounts payable$159,000$144,100Income taxes payable42,20041,200Total current liabilities201,200185,300Bonds payable220,000200,000Total liabilities421,200385,300Stockholders' equityCommon stock ($5 par)276,800299,800Retained earnings273,900163,300Total stockholders' equity550,700463,100Total liabilities and stockholders' equity$971,900$848,400

Name: Plant assets (net)600,700516,300Total assets$971,900$848,400Liabiliti
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Description: Plant assets (net)600,700516,300Total assets$971,900$848,400Liabilities and Stockholders' EquityCurrent liabilitiesAccounts payable$159,000$144,100Income taxes payable42,20041,200Total current liabilities201,200185,300Bonds payable220,000200,000Tota

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Business

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Plant assets (net) 600,700 516,300 Total assets $971,900 $848,400 Liabilities and Stockholders' Equity Current liabilities Accounts payable $159,000 $144,100 Income taxes payable 42,200 41.200 Total current liabilities 201.200 185,300 Bonds payable 220,000 200,000 Total liabilities 421,200 385,300 Stockholders' equity Common stock ($5 par) 276,800 299,800 Retained earnings 273,900 163,300 Total stockholders' equity 550,700 463,100 Total liabilities and stockholders' equity $971,900 $848,400 All sales were on account. Net cash provided by operating activities for 2020 was $216,000. Capital expenditures were $132,000, and cash dividends were $79,678. Compute the following ratios for 2020. (Round Earnings per share, Current ratio and Asset turnover to 2 decimal places, e.g. 1.65 or 1.65:1, and all other answers to 1 decimal place, e.g. 6.8 or 6.8%. Use 365 days for calculation.) (a) Earnings per share (b) Return on common stockholders' equity (c) Return on assets

Plant assets (net) 600,700 516,300 Total assets $971,900 $848,400 Liabilities and Stockholders' Equity Current liabilities Accounts payable $159,000 $144,100 Income taxes payable 42,200 41.200 Total current liabilities 201.200 185,300 Bonds payable 220,000 200,000 Total liabilities 421,200 385,300 Stockholders' equity Common stock ($5 par) 276,800 299,800 Retained earnings 273,900 163,300 Total stockholders' equity 550,700 463,100 Total liabilities and stockholders' equity $971,900 $848,400 All sales were on account. Net cash provided by operating activities for 2020 was $216,000. Capital expenditures were $132,000, and cash dividends were $79,678. Compute the following ratios for 2020. (Round Earnings per share, Current ratio and Asset turnover to 2 decimal places, e.g. 1.65 or 1.65:1, and all other answers to 1 decimal place, e.g. 6.8 or 6.8%. Use 365 days for calculation.) (a) Earnings per share (b) Return on common stockholders' equity (c) Return on assets

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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Analyzing and Computing Issue Price, Treasury Stock Cost, and Shares Outstanding Following is the stockholders' equity section of the 2018 Merck & Co. Inc. balance sheet. Stockholders' Equity ($ millions, except par value) 2018 Common stock, $0.50 par value; 6,500,000 authorized shares; 3,577,107,522 issued shares $1,789 Other paid-in capital 31,046 Retained earnings 34,063 Accumulated other comprehensive loss (4,436) Stockholders' equity before deduction for treasury stock $62,103 Less treasury stock, at cost: 984,543,979 shares Total Merck & Co. Inc. stockholders' equity 40,743 $21,360 a. Show the computation of the $1,789 million in the common stock account. shares x $ per share is approximately $ million on the balance sheet. b. At what average price were the Merck common shares issued? Note: Round your answers to two decimal places (for example, enter 67.49 for 67.48555). per share c. At what average cost was the Merck treasury stock purchased? Note: Round your answers to two…
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