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Sheridan Consumer Products Company Income Statement Net sales $66,230 Cost of products sold 23,660 Gross profit $42,570 Marketing, research, administrative expense 15,200 Depreciation 710 Operating income (loss) $26,660 Interest expense 950 Earnings (loss) before income taxes $25,710 Income taxes 7,782 Net earnings (loss) $17,928 Sheridan Consumer Products Company Balance Sheet Assets: Liabilities and Equity: Cash and marketable securities $4,530 Accounts payable $4,210 Investment securities 370 Accrued and other liabilities 7,700 Accounts receivable 3,630 Taxes payable 2,010 Inventory 5,190 Debt due within one year 8,015 Deferred income taxes 820 Total current liabilities $21,935 Prepaid expenses and other receivables 1,580 Long-term debt 11,815 Total current assets $16,120 Deferred income taxes 1,790 Property, plant, and equipment, at cost 26,134 Other noncurrent liabilities 3,100 Less: Accumulated depreciation 10,307 Total liabilities $38,640 Net property, plant, and equipment $15,827 Convertible class A preferred stock 1,744 Net goodwill and other intangible assets 26,700 Common stock 2,350 Other noncurrent assets 1,690 Retained earnings 17,603 Total stockholders' equity $21,697 Total assets $60,337 Total liabilities and equity $60,337 Calculate all the ratios listed below for Sheridan, for which industry figures are available. (Round current ratio. quick ratio, debt ratio, long term debt ratio answers to 2 decimal places, e.g. 12.25 and other answers to 1 decimal place, e.g.12.5 or 12.5%) Ratio Current ratio Industry Average 2.05 times Quick ratio 0.78 times Gross margin 23.9 % % Net profit margin 12.3 % % Debt ratio 0.23 times Long-term debt to equity 0.98 times Interest coverage 5.62 times Return on assets 5.3 % % Return on equity 18.8 % %

Sheridan Consumer Products Company Income Statement Net sales $66,230 Cost of products sold 23,660 Gross profit $42,570 Marketing, research, administrative expense 15,200 Depreciation 710 Operating income (loss) $26,660 Interest expense 950 Earnings (loss) before income taxes $25,710 Income taxes 7,782 Net earnings (loss) $17,928 Sheridan Consumer Products Company Balance Sheet Assets: Liabilities and Equity: Cash and marketable securities $4,530 Accounts payable $4,210 Investment securities 370 Accrued and other liabilities 7,700 Accounts receivable 3,630 Taxes payable 2,010 Inventory 5,190 Debt due within one year 8,015 Deferred income taxes 820 Total current liabilities $21,935 Prepaid expenses and other receivables 1,580 Long-term debt 11,815 Total current assets $16,120 Deferred income taxes 1,790 Property, plant, and equipment, at cost 26,134 Other noncurrent liabilities 3,100 Less: Accumulated depreciation 10,307 Total liabilities $38,640 Net property, plant, and equipment $15,827 Convertible class A preferred stock 1,744 Net goodwill and other intangible assets 26,700 Common stock 2,350 Other noncurrent assets 1,690 Retained earnings 17,603 Total stockholders' equity $21,697 Total assets $60,337 Total liabilities and equity $60,337 Calculate all the ratios listed below for Sheridan, for which industry figures are available. (Round current ratio. quick ratio, debt ratio, long term debt ratio answers to 2 decimal places, e.g. 12.25 and other answers to 1 decimal place, e.g.12.5 or 12.5%) Ratio Current ratio Industry Average 2.05 times Quick ratio 0.78 times Gross margin 23.9 % % Net profit margin 12.3 % % Debt ratio 0.23 times Long-term debt to equity 0.98 times Interest coverage 5.62 times Return on assets 5.3 % % Return on equity 18.8 % %

Fundamentals of Financial Management (MindTap Course List)
Fundamentals of Financial Management (MindTap Course List)
15th Edition
ISBN:9781337395250
Author:Eugene F. Brigham, Joel F. Houston
Publisher:Eugene F. Brigham, Joel F. Houston
Chapter4: Analysis Of Financial Statements
Section: Chapter Questions
Problem 24P: Income Statement for Year Ended December 31, 2018 (Millions of Dollars) Net sales 795.0 Cost of...
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Sheridan Consumer Products Company Income Statement Net sales $66,230 Cost of products sold 23,660 Gross profit $42,570 Marketing, research, administrative expense 15,200 Depreciation 710 Operating income (loss) $26,660 Interest expense 950 Earnings (loss) before income taxes $25,710 Income taxes 7,782 Net earnings (loss) $17,928 Sheridan Consumer Products Company Balance Sheet Assets: Liabilities and Equity: Cash and marketable securities $4,530 Accounts payable $4,210 Investment securities 370 Accrued and other liabilities 7,700 Accounts receivable 3,630 Taxes payable 2,010 Inventory 5,190 Debt due within one year 8,015 Deferred income taxes 820 Total current liabilities $21,935 Prepaid expenses and other receivables 1,580 Long-term debt 11,815 Total current assets $16,120 Deferred income taxes 1,790 Property, plant, and equipment, at cost 26,134 Other noncurrent liabilities 3,100 Less: Accumulated depreciation 10,307 Total liabilities $38,640 Net property, plant, and equipment $15,827 Convertible class A preferred stock 1,744 Net goodwill and other intangible assets 26,700 Common stock 2,350 Other noncurrent assets 1,690 Retained earnings 17,603 Total stockholders' equity $21,697 Total assets $60,337 Total liabilities and equity $60,337 Calculate all the ratios listed below for Sheridan, for which industry figures are available. (Round current ratio. quick ratio, debt ratio, long term debt ratio answers to 2 decimal places, e.g. 12.25 and other answers to 1 decimal place, e.g.12.5 or 12.5%) Ratio Current ratio Industry Average 2.05 times Quick ratio 0.78 times Gross margin 23.9 % % Net profit margin 12.3 % % Debt ratio 0.23 times Long-term debt to equity 0.98 times Interest coverage 5.62 times Return on assets 5.3 % % Return on equity 18.8 % %
Transcribed Image Text:Sheridan Consumer Products Company Income Statement Net sales $66,230 Cost of products sold 23,660 Gross profit $42,570 Marketing, research, administrative expense 15,200 Depreciation 710 Operating income (loss) $26,660 Interest expense 950 Earnings (loss) before income taxes $25,710 Income taxes 7,782 Net earnings (loss) $17,928 Sheridan Consumer Products Company Balance Sheet Assets: Liabilities and Equity: Cash and marketable securities $4,530 Accounts payable $4,210 Investment securities 370 Accrued and other liabilities 7,700 Accounts receivable 3,630 Taxes payable 2,010 Inventory 5,190 Debt due within one year 8,015 Deferred income taxes 820 Total current liabilities $21,935 Prepaid expenses and other receivables 1,580 Long-term debt 11,815 Total current assets $16,120 Deferred income taxes 1,790 Property, plant, and equipment, at cost 26,134 Other noncurrent liabilities 3,100 Less: Accumulated depreciation 10,307 Total liabilities $38,640 Net property, plant, and equipment $15,827 Convertible class A preferred stock 1,744 Net goodwill and other intangible assets 26,700 Common stock 2,350 Other noncurrent assets 1,690 Retained earnings 17,603 Total stockholders' equity $21,697 Total assets $60,337 Total liabilities and equity $60,337 Calculate all the ratios listed below for Sheridan, for which industry figures are available. (Round current ratio. quick ratio, debt ratio, long term debt ratio answers to 2 decimal places, e.g. 12.25 and other answers to 1 decimal place, e.g.12.5 or 12.5%) Ratio Current ratio Industry Average 2.05 times Quick ratio 0.78 times Gross margin 23.9 % % Net profit margin 12.3 % % Debt ratio 0.23 times Long-term debt to equity 0.98 times Interest coverage 5.62 times Return on assets 5.3 % % Return on equity 18.8 % %
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