Presented here are summarized data from the balance sheets and income statements of Wiper Inc.: Current assets Other assets Total assets Current liabilities Long-term liabilities. Stockholders' equity Total liabilities and stockholders' equity Income statement data: Sales Operating income Interest expense Net income WIPER INC. Condensed Balance Sheets December 31, 2020, 2019, 2018 (in millions) Other data: WIPER INC. Selected Income Statement and Other Data For the year Ended December 31, 2020 and 2019 (in millions) 2020 $650 2,750 $3,400 Average number of common shares outstanding Total dividends paid $ 500 1,500 1,400 $3,400 2020 $ 2018 2019 $900 $ 700 2,050 1,750 $2,950 $2,450 $800 $700 1,000 800 1,150 950 $2,950 $2,450 $3,300 $2,900 380 300 80 70 300 44 50 2019 $ 230 42 30
Presented here are summarized data from the balance sheets and income statements of Wiper Inc.: Current assets Other assets Total assets Current liabilities Long-term liabilities. Stockholders' equity Total liabilities and stockholders' equity Income statement data: Sales Operating income Interest expense Net income WIPER INC. Condensed Balance Sheets December 31, 2020, 2019, 2018 (in millions) Other data: WIPER INC. Selected Income Statement and Other Data For the year Ended December 31, 2020 and 2019 (in millions) 2020 $650 2,750 $3,400 Average number of common shares outstanding Total dividends paid $ 500 1,500 1,400 $3,400 2020 $ 2018 2019 $900 $ 700 2,050 1,750 $2,950 $2,450 $800 $700 1,000 800 1,150 950 $2,950 $2,450 $3,300 $2,900 380 300 80 70 300 44 50 2019 $ 230 42 30
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Question
ll.
Transcribed Image Text:Calculate Wiper's debt ratio and debt/equity ratio at December 31, 2020 and 2019. (Round "Del
and "Debt/equity ratio" to the nearest whole percent.)
Debt ratio
Debt/equity ratio
2020
44.1 %
107
%
2019
33.9 %
87
Transcribed Image Text:Presented here are summarized data from the balance sheets and income statements of Wiper Inc.:
Current assets
Other assets
Total assets
Current liabilities
Long-term liabilities.
Stockholders' equity.
Total liabilities and stockholders' equity
Income statement data:
Sales
WIPER INC.
Condensed Balance Sheets
December 31, 2020, 2019, 2018
(in millions)
Operating income
Interest expense
Net income
Other data:
WIPER INC.
Selected Income Statement and Other Data
For the year Ended December 31, 2020 and 2019
(in millions)
Average number of common shares outstanding
Total dividends paid
2020
$ 650
2,750
$3,400
$ 500
1,500
1,400
$3,400
2020
$3,300
380
80
300
$
44
50
2019
$900
2,050
$2,950
$ 800
1,000
1,150
$2,950
2019
$2,900
300
70
$
230
42
30
2018
$700
1,750
$2,450
$700
800
950
$2,450
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