149. Comparative calendar year financial data for a company are shown below: 2014 2013 Sales $ 720,000 $ 607,500 Gross profit 270,000 224,800 Income before taxes 79,200 78,700 Net income 51,200 51,700 December 31, December 31, 2014 2013 Liabilities $ 493,500 $ 452,500 Common stock ($12 par) 180,000 180,000 Contributed capital in excess of par 135,000 135,000 Retained earnings 204,000 177,300 Total liabilities and equity $1,012,500 $ 944,800 Calculate:(1) Return on total assets for 2014.(2) Return on common stockholders' equity for 2014. 150. The current year-end balance sheet data for a company are shown below: Assets: Cash $ 18,000 Marketable securities 45,000 Accounts receivable (net) 157,500 Merchandise inventory 139,500 Long-term investments 135,000 Plant assets (net) 517,500 Total assets $1,012,500 Liabilities and equity: Accounts payable $ 168,700 Accrued liabilities 90,000 Notes payable (secured by plant assets) 234,800 Common stock ($12 par) 180,000 Contributed capital in excess of par 135,000 Retained earnings 204,000 Total liabilities and equity $1,012,500 Calculate this company's:(1) Working capital(2) Acid-test ratio 151. The 2014 income statement for Golden Company is shown below: GOLDEN COMPANY Income Statements For the Year Ended December 31, 2014 Sales $720,000 Cost of goods sold 450,000 Gross profit $270,000 Operating expense 168,500 Income from operations $101,500 Interest expense 22,300 Income before taxes $ 79,200 Income taxes 28,000 Net income 51,200 Calculate the times interest earned ratio for 2014. 152. A corporation reports the following year-end balance sheet data: Cash $ 40,000 Current liabilities $ 64,000 Accounts receivable 35,000 Long-term liabilities 72,000 Inventory 60,000 Common stock 100,000 Equipment 150,000 Retained earnings 49,000 Total assets $285,000 Total liabilities and equity $285,000 Calculate the corporation's current ratio and its acid-test ratio.

149. Comparative calendar year financial data for a company are shown below: 2014 2013 Sales $ 720,000 $ 607,500 Gross profit 270,000 224,800 Income...

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

	2014	2013
Sales	$ 720,000	$ 607,500
Gross profit	270,000	224,800
Income before taxes	79,200	78,700
Net income	51,200	51,700

	December 31,	December 31,
	2014	2013
Liabilities	$ 493,500	$ 452,500
Common stock ($12 par)	180,000	180,000
Contributed capital in excess of par	135,000	135,000
Retained earnings	204,000	177,300
Total liabilities and equity	$1,012,500	$ 944,800

Calculate:
(1) Return on total assets for 2014.
(2) Return on common stockholders' equity for 2014.

150. The current year-end balance sheet data for a company are shown below:

Assets:
Cash	$ 18,000
Marketable securities	45,000
Accounts receivable (net)	157,500
Merchandise inventory	139,500
Long-term investments	135,000
Plant assets (net)	517,500
Total assets	$1,012,500

Liabilities and equity:
Accounts payable	$ 168,700
Accrued liabilities	90,000
Notes payable (secured by plant assets)	234,800
Common stock ($12 par)	180,000
Contributed capital in excess of par	135,000
Retained earnings	204,000
Total liabilities and equity	$1,012,500

Calculate this company's:
(1) Working capital
(2) Acid-test ratio

151. The 2014 income statement for Golden Company is shown below:

GOLDEN COMPANY Income Statements For the Year Ended December 31, 2014

Sales	$720,000
Cost of goods sold	450,000
Gross profit	$270,000
Operating expense	168,500
Income from operations	$101,500
Interest expense	22,300
Income before taxes	$ 79,200
Income taxes	28,000
Net income	51,200

Calculate the times interest earned ratio for 2014.

152. A corporation reports the following year-end balance sheet data:

Cash	$ 40,000	Current liabilities	$ 64,000
Accounts receivable	35,000	Long-term liabilities	72,000
Inventory	60,000	Common stock	100,000
Equipment	150,000	Retained earnings	49,000
Total assets	$285,000	Total liabilities and equity	$285,000

Calculate the corporation's current ratio and its acid-test ratio.

May 15, 2022