The comparative statements of Cullumber Company are presented here. Net sales Cost of goods sold Gross profit Selling and administrative expenses Income from operations Other expenses and losses Assets Current assets Interest expense Income before income taxes Income tax expense Net income Cash CULLUMBER COMPANY Income Statements For the Years Ended December 31 Debt investments (short-term) Accounts receivable Inventory Total current assets Plant assets (net) Total assets Liabilities and Stockholders Equity Total current abilities $172,800 $157,002 46.980 41.30 202.392 237,600 214.000 338.472 324.000 2022 $1.993,400 $21.004 1,107,000 All sales were on account. Net cnh provided by operating activities for 2022 5237600 faca 183 1878) 886,400 540,000 346,400 CULLUMBER COMPANY Balance Sheets December 31 23.760 322.640 96.792 $225.848 2022 2021 $1,855.000 1,086,480 768,520 79,920 127,224 517,320 136,080 251,200 21.600 229,600 68,880 $64,908 $69,336 $160.720 2021 54,000 111,024 124,740 408,132 700,920 $1.109,052 $921.024 359.100 561.924 de $64.00

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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Please solve for earnings per share, return on common stockholders equity, accounts receivable turnover, accounts receivable turnover, average collection period, inventory turnover, days in inventory, times interest earned, asset turnover, debt to assets ratio, and free cash flow
The comparative statements of Cullumber Company are presented here.
CULLUMBER COMPANY
Income Statements
For the Years Ended December 31
Net sales
Accounts payable
Bonds payable
Cost of goods sold
Gross profit
Selling and administrative expenses
Income from operations-
Other expenses and losses
Interest expense
Income before income taxes
Income tax expense
Net income
Assets
Current assets
Cash
Debt investments (short-term)
Accounts receivable
Income taxes payable
Total current abilities
Inventory
Total current assets
Plant assets (net)
Total assets
Liabilities and Stockholders' Equity
Current abilities
$172.800 $157.002
46.980
219,780
202.392
237.600 216.000
457,380 418.392
Total abilities
Stockholders' equity
Common stock ($5 par
Retained earnings
Total stockholders equity
Total liabilities and stockholders' equity $1.109.052
313,200 324.000
338.472 178.632
651672
502.632
2022
$921.024
$1,993,400
1,107,000
886,400
540,000
CULLUMBER COMPANY
Balance Sheets
December 31
346,400
23.760
322.640
96.792
$225,848
2022
$1,855,000
$ 64,908
408,132
2021
79.920
127,224
136,080
700,920
1,086,480
768,520
517,320
251,200
21.600
229,600
68,880
$160,720
2021
$69,336
54,000
111,024
124,740
359,100
561,924
$1,109,052 $921,024
All sales were on account. Net cash provided by operating activities for 2022 was $237,600 Capital expenditures were $146.880, and cash dividends were $66.008
Compute the following ration for 2022 (Round of onwers to 2 decimal places 183 or 1.83%)
Transcribed Image Text:The comparative statements of Cullumber Company are presented here. CULLUMBER COMPANY Income Statements For the Years Ended December 31 Net sales Accounts payable Bonds payable Cost of goods sold Gross profit Selling and administrative expenses Income from operations- Other expenses and losses Interest expense Income before income taxes Income tax expense Net income Assets Current assets Cash Debt investments (short-term) Accounts receivable Income taxes payable Total current abilities Inventory Total current assets Plant assets (net) Total assets Liabilities and Stockholders' Equity Current abilities $172.800 $157.002 46.980 219,780 202.392 237.600 216.000 457,380 418.392 Total abilities Stockholders' equity Common stock ($5 par Retained earnings Total stockholders equity Total liabilities and stockholders' equity $1.109.052 313,200 324.000 338.472 178.632 651672 502.632 2022 $921.024 $1,993,400 1,107,000 886,400 540,000 CULLUMBER COMPANY Balance Sheets December 31 346,400 23.760 322.640 96.792 $225,848 2022 $1,855,000 $ 64,908 408,132 2021 79.920 127,224 136,080 700,920 1,086,480 768,520 517,320 251,200 21.600 229,600 68,880 $160,720 2021 $69,336 54,000 111,024 124,740 359,100 561,924 $1,109,052 $921,024 All sales were on account. Net cash provided by operating activities for 2022 was $237,600 Capital expenditures were $146.880, and cash dividends were $66.008 Compute the following ration for 2022 (Round of onwers to 2 decimal places 183 or 1.83%)
(a)
(b)
(c)
(d)
(e)
(f)
09
(h)
(i)
(j)
(k)
(1)
Earnings per share
Return on common stockholders' equity
Return on assets
Current ratio
Accounts receivable turnover
Average collection period
Inventory turnover
Days in inventory
Times interest earned
Asset turnover
Debt to assets ratio
Free cash flow
$
LA
tA
$
%
%
:1
times
days
times
days.
times
times
%
Transcribed Image Text:(a) (b) (c) (d) (e) (f) 09 (h) (i) (j) (k) (1) Earnings per share Return on common stockholders' equity Return on assets Current ratio Accounts receivable turnover Average collection period Inventory turnover Days in inventory Times interest earned Asset turnover Debt to assets ratio Free cash flow $ LA tA $ % % :1 times days times days. times times %
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