145. A company paid cash dividends on its preferred stock of $40,000 in the current year when its net income was $120,000 and its average common stockholders' equity was $640,000. What is the company's return on common stockholders' equity? 146. Use the financial data shown below to calculate the following ratios for the current year: (a) Current ratio(b) Acid-test ratio(c) Accounts receivable turnover(d) Days' sales uncollected(e) Inventory turnover(f) Days' sales in inventory Income statement data Sales $650,000 Cost of goods sold 425,000 Income before taxes 78,000 Net income 54,600 Ending Balances Beginning Balances Cash $ 19,500 $ 15,000 Accounts receivable (net) 65,000 60,000 Inventory 71,500 64,500 Plant and equipment (net) 195,000 183,900 Total assets $351,000 $323,400 Current liabilities $ 62,400 $ 52,700 Long-term notes payable 97,500 100,000 147. A company's calendar-year financial data are shown below. The company has pledged all of its net plant assets as security for its long-term notes payable: Sales $650,000 Cost of goods sold 422,500 Gross profit $227,500 Operating expenses 140,500 Operating income $ 87,000 Interest expense 9,100 Income before taxes $ 77,900 Income taxes 23,400 Net income $ 54,500 Ending Balances Cash $ 19,500 Accounts receivable (net) 65,000 Inventory 71,500 Plant assets (net) 195,000 Total assets $351,000 Current liabilities $ 74,100 Long-term notes payable 97,500 Common stock 65,000 Retained earnings 114,400 Total liabilities and equity $351,000 Calculate the following ratios for this company: (a) Equity ratio.(b) Pledged assets to secured liabilities ratio.(c) Times interest earned. 148. Comparative calendar-year financial data for a company are shown below: 2014 2013 Sales $ 720,000 $ 607,500 Cost of goods sold 450,000 382,700 Operating expenses 168,500 134,900 Net income 51,200 51,700 December 31, December 31, 2014 2013 Accounts receivable (net $ 157,500 $162,500 Inventory 139,500 110,500 Total assets 1,012,500 944,800 Calculate: (1) Accounts receivable turnover for 2014.(2) Days' sales uncollected for 2014.(3) Inventory turnover for 2014.(4) Days' sales in inventory for 2014.

145. A company paid cash dividends on its preferred stock of $40,000 in the current year when its net income was $120,000 and its average common stockholders' equity was $640,000. What is the...

145. A company paid cash dividends on its preferred stock of $40,000 in the current year when its net income was $120,000 and its average common stockholders' equity was $640,000. What is the company's return on common stockholders' equity?

146. Use the financial data shown below to calculate the following ratios for the current year:

(a) Current ratio
(b) Acid-test ratio
(c) Accounts receivable turnover
(d) Days' sales uncollected
(e) Inventory turnover
(f) Days' sales in inventory

Income statement data
Sales	$650,000
Cost of goods sold	425,000
Income before taxes	78,000
Net income	54,600

	Ending Balances	Beginning Balances
Cash	$ 19,500	$ 15,000
Accounts receivable (net)	65,000	60,000
Inventory	71,500	64,500
Plant and equipment (net)	195,000	183,900
Total assets	$351,000	$323,400

Current liabilities	$ 62,400	$ 52,700
Long-term notes payable	97,500	100,000

147. A company's calendar-year financial data are shown below. The company has pledged all of its net plant assets as security for its long-term notes payable:

Sales	$650,000
Cost of goods sold	422,500
Gross profit	$227,500
Operating expenses	140,500
Operating income	$ 87,000
Interest expense	9,100
Income before taxes	$ 77,900
Income taxes	23,400
Net income	$ 54,500

	Ending Balances
Cash	$ 19,500
Accounts receivable (net)	65,000
Inventory	71,500
Plant assets (net)	195,000
Total assets	$351,000

Current liabilities	$ 74,100
Long-term notes payable	97,500
Common stock	65,000
Retained earnings	114,400
Total liabilities and equity	$351,000

Calculate the following ratios for this company:

(a) Equity ratio.
(b) Pledged assets to secured liabilities ratio.
(c) Times interest earned.

148. Comparative calendar-year financial data for a company are shown below:

	2014	2013
Sales	$ 720,000	$ 607,500
Cost of goods sold	450,000	382,700
Operating expenses	168,500	134,900
Net income	51,200	51,700

	December 31,	December 31,
	2014	2013
Accounts receivable (net	$ 157,500	$162,500
Inventory	139,500	110,500
Total assets	1,012,500	944,800

Calculate:

(1) Accounts receivable turnover for 2014.
(2) Days' sales uncollected for 2014.
(3) Inventory turnover for 2014.
(4) Days' sales in inventory for 2014.

May 15, 2022

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145. A company paid cash dividends on its preferred stock of $40,000 in the current year when its net income was $120,000 and its average common stockholders' equity was $640,000. What is the...

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