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| Balance Sheets As of December 31 |
| | 2015 | 2014 |
| Assets | | | | | | |
| Current assets | | | | | | |
| Cash | $ | 22,000 | | $ | 18,000 | |
| Marketable securities | | 21,200 | | | 7,200 | |
| Accounts receivable (net) | | 53,000 | | | 45,000 | |
| Inventories | | 138,000 | | | 146,000 | |
| Prepaid items | | 27,000 | | | 12,000 | |
| | | | | | | |
| Total current assets | | 261,200 | | | 228,200 | |
| Investments | | 27,000 | | | 20,000 | |
| Plant (net) | | 270,000 | | | 255,000 | |
| Land | | 30,000 | | | 25,000 | |
| | | | | | | |
| Total assets | $ | 588,200 | | $ | 528,200 | |
| | | | | | | |
| Liabilities and Stockholders Equity | | | | | | |
| Liabilities | | | | | | |
| Current liabilities | | | | | | |
| Notes payable | $ | 31,800 | | $ | 13,500 | |
| Accounts payable | | 133,800 | | | 120,000 | |
| Salaries payable | | 21,000 | | | 15,000 | |
| | | | | | | |
| Total current liabilities | | 186,600 | | | 148,500 | |
| | | | | | | |
| Noncurrent liabilities | | | | | | |
| Bonds payable | | 100,000 | | | 100,000 | |
| Other | | 27,000 | | | 22,000 | |
| | | | | | | |
| Total noncurrent liabilities | | 127,000 | | | 122,000 | |
| | | | | | | |
| Total liabilities | | 313,600 | | | 270,500 | |
| | | | | | | |
| Stockholders equity | | | | | | |
| Preferred stock, (par value $10, 4% cumulative, non-participating; 7,000 shares authorized and issued) | | 70,000 | | | 70,000 | |
| Common stock (No par; 50,000 shares authorized; 10,000 shares issued) | | 70,000 | | | 70,000 | |
| Retained earnings | | 134,600 | | | 117,700 | |
| | | | | | | |
| Total stockholders equity | | 274,600 | | | 257,700 | |
| | | | | | | |
| Total liabilities and stockholders equity | $ | 588,200 | | $ | 528,200 | |
| | | | | | | |
| |
| REVNIK COMPANY Statements of Income and Retained Earnings For the Years Ended December 31 |
| | 2015 | 2014 |
| Revenues | | | | | | |
| Sales (net) | $ | 350,000 | | $ | 330,000 | |
| Other revenues | | 10,400 | | | 7,400 | |
| | | | | | | |
| Total revenues | | 360,400 | | | 337,400 | |
| | | | | | | |
| Expenses | | | | | | |
| Cost of goods sold | | 175,000 | | | 139,000 | |
| Selling, general, and administrative | | 67,000 | | | 62,000 | |
| Interest expense | | 11,600 | | | 10,800 | |
| Income tax expense | | 83,000 | | | 82,000 | |
| | | | | | | |
| Total expenses | | 336,600 | | | 293,800 | |
| | | | | | | |
| Net earnings (net income) | | 23,800 | | | 43,600 | |
| Retained earnings, January 1 | | 117,700 | | | 81,000 | |
| Less: Preferred stock dividends | | 2,800 | | | 2,800 | |
| Common stock dividends | | 4,100 | | | 4,100 | |
| | | | | | | |
| Retained earnings, December 31 | $ | 134,600 | | $ | 117,700 |
Need Turnover of assets. (Use the total assets of 2014 as the average total assets to compute the 2014
Return on investment. (Use the total assets of 2014 as the average total assets to compute the 2014
Return on equity. (Use the total stockholders' equity of 2014 as the average total stockholders' equity to compute the 2014 figure.
Earnings per share
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