Selling and administrative expenses 514,200 474,200 Income from operations 288,700 283,100 Other expenses and losses Interest expense 18,100 13,000 Income before income taxes 270,600 270,100 Income tax expense 79,332 76,400 Net income $ 191,268 $ 193,700 Swifty Company Balance Sheets December 31 Assets 2022 2021 Current assets Cash $59,400 $63,700 Debt investments (short-term) 70,100 50,700 Accounts receivable (net) 117,800 102,300 Inventory 124,000 114,800 Total current assets 371,300 331,500 Plant assets (net) 596,900 523,100 Total assets $968,200 $854,600 Liabilities and Stockholders' Equity Current liabilities Accounts payable $159.000 $145,000 Income taxes payable 42,000 42,500 Total current liabilities 201,000 187,500 Bonds payable 220,000 200,000 Total liabilities 421,000 387,500 Stockholders' equity Common stock ($5 par) 279,500 300,100 Retained earnings 267,700 167,000 Total stockholders' equity 547,200 467,100 Total liabilities and stockholders' equity $968,200 $854,600 All sales were on credit. Net cash provided by operating activities for 2022 was $241,000. Capital expenditures were $137,000, and cash dividends paid were $90,568. Compute the following ratios for 2022. (Round Earnings per share, Current ratio and Asset turnover to 2 decimal places, eg 1.65 or 1.65:1, and all other answers to 1 decimal place, eg. 6.8 or 6.8%. Use 365 days for calculation.)
Selling and administrative expenses 514,200 474,200 Income from operations 288,700 283,100 Other expenses and losses Interest expense 18,100 13,000 Income before income taxes 270,600 270,100 Income tax expense 79,332 76,400 Net income $ 191,268 $ 193,700 Swifty Company Balance Sheets December 31 Assets 2022 2021 Current assets Cash $59,400 $63,700 Debt investments (short-term) 70,100 50,700 Accounts receivable (net) 117,800 102,300 Inventory 124,000 114,800 Total current assets 371,300 331,500 Plant assets (net) 596,900 523,100 Total assets $968,200 $854,600 Liabilities and Stockholders' Equity Current liabilities Accounts payable $159.000 $145,000 Income taxes payable 42,000 42,500 Total current liabilities 201,000 187,500 Bonds payable 220,000 200,000 Total liabilities 421,000 387,500 Stockholders' equity Common stock ($5 par) 279,500 300,100 Retained earnings 267,700 167,000 Total stockholders' equity 547,200 467,100 Total liabilities and stockholders' equity $968,200 $854,600 All sales were on credit. Net cash provided by operating activities for 2022 was $241,000. Capital expenditures were $137,000, and cash dividends paid were $90,568. Compute the following ratios for 2022. (Round Earnings per share, Current ratio and Asset turnover to 2 decimal places, eg 1.65 or 1.65:1, and all other answers to 1 decimal place, eg. 6.8 or 6.8%. Use 365 days for calculation.)
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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100%
Use given information to fill out missing boxes correctly
Transcribed Image Text:The comparative statements of Swifty Company are presented here.
Swifty Company
Income Statements
For the Years Ended December 31
2022
2021
Net sales
$1,815,400
$1,748,300
Cost of goods sold
1,012,500
991,000
Gross profit
802,900
757,300
Selling and administrative expenses
514,200
474,200
Income from operations
288,700
283,100
Other expenses and losses
Interest expense
18,100
13,000
Income before income taxes
270,600
270,100
Income tax expense
79,332
76,400
Net income
$ 191,268
$ 193,700
Swifty Compay
Balance Sheets
December 31
Assets
2022
2021
Current assets
Cash
$59,400
$63,700
Debt investments (short-term)
70,100
50,700
Accounts receivable (net)
117,800
102,300
Inventory
124,000
114,800
Total current assets
371,300
331,500
Plant assets (net)
596,900
523,100
Total assets
$968.200
$854,600
Liabilities and Stockholders' Equity
Current liabilities
Accounts payable
$159,000
$145,000
Income taxes payable
42,000
42,500
Total current liabilities
201,000
187,500
Bonds payable
220,000
200,000
Total liabilities
421,000
387,500
Stockholders' equity
Common stock ($5 par)
279,500
300,100
Retained earnings
267,700
167,000
Total stockholders' equity
547,200
467,100
Total liabilities and stockholders' equity
$968,200
$854,600
All sales were on credit. Net cash provided by operating activities for 2022 was $241,000. Capital expenditures were $137,000, and
cash dividends paid were $90,568.
Compute the following ratios for 2022. (Round Earnings per share, Current ratio and Asset turnover to 2 decimal places, eg 1.65 or 1.65:1,
and all other answers to 1 decimal place, eg. 6.8 or 6.8%. Use 365 days for calculation.)
Transcribed Image Text:(a)
Earnings per share
24
(b)
Return on common stockholders' equity
(c)
Return on assets
Current ratio
(p)
:1
(e)
Accounts receivable turnover
times
(f)
Average collection period
days
times
(g)
Inventory turnover
days
(h)
Days in inventory
times
(i)
Times interest earned
times
()
Asset turnover
(k)
Debt to assets ratio
$4
(1)
Free cash flow
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