The comparative statements of Cullumber Company are presented here. CULLUMBER...
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Accounting
The comparative statements of Cullumber Company are presented here.
CULLUMBER COMPANY Income Statements For the Years Ended December 31
2017
2016
Net sales
$1,891,640
$1,751,600
Cost of goods sold
1,059,640
1,007,100
Gross profit
832,000
744,500
Selling and administrative expenses
501,100
480,100
Income from operations
330,900
264,400
Other expenses and losses
Interest expense
23,700
21,700
Income before income taxes
307,200
242,700
Income tax expense
93,700
74,700
Net income
$ 213,500
$ 168,000
CULLUMBER COMPANY Balance Sheets December 31
Assets
2017
2016
Current assets
Cash
$ 60,100
$ 64,200
Debt investments (short-term)
74,000
50,000
Accounts receivable
118,900
103,900
Inventory
127,700
117,200
Total current assets
380,700
335,300
Plant assets (net)
661,000
532,300
Total assets
$1,041,700
$867,600
Liabilities and Stockholders Equity
Current liabilities
Accounts payable
$ 161,100
$146,500
Income taxes payable
45,200
43,700
Total current liabilities
206,300
190,200
Bonds payable
232,000
212,000
Total liabilities
438,300
402,200
Stockholders equity
Common stock ($5 par)
290,000
300,000
Retained earnings
313,400
165,400
Total stockholders equity
603,400
465,400
Total liabilities and stockholders equity
$1,041,700
$867,600
All sales were on account. Net cash provided by operating activities for 2017 was $227,000. Capital expenditures were $136,000, and cash dividends were $65,500. Compute the following ratios for 2017. (Round all answers to 2 decimal places, e.g. 1.83 or 1.83%.)
(a)
Earnings per share
$enter earnings per share in dollars
(b)
Return on common stockholders equity
enter return on common stockholders equity in percentages
%
(c)
Return on assets
enter return on assets in percentages
%
(d)
Current ratio
enter current ratio
:1
(e)
Accounts receivable turnover
enter accounts receivable turnover in times
times
(f)
Average collection period
enter average collection period in days
days
(g)
Inventory turnover
enter inventory turnover in times
times
(h)
Days in inventory
enter days in inventory
days
(i)
Times interest earned
enter times interest earned
times
(j)
Asset turnover
enter asset turnover in times
times
(k)
Debt to assets ratio
enter debt to assets ratio in percentages
%
(l)
Free cash flow
$enter free cash flow in dollars
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