186.Comparative calendar-year financial data for a company are shown below. Calculate the following ratios for the company for 2016:
(a) accounts receivable turnover
(b) day's sales uncollected
(c) inventory turnover
(d) days' sales in inventory
20162015
Sales$720,000$607,500
Cost of goods sold450,000382,700
Operating expenses168,500134,900
Net income51,20051,700
December 31,
2016December 31,
2015
Accounts receivable (net)$157,500$162,500
Inventory139,500110,500
Total assets1,012,500944,800
187.Comparative calendar year financial data for a company are shown below. Calculate the following ratios for 2016:
(a) return on total assets
(b) return on common stockholders' equity.
2016 2015
Sales$720,000$607,500
Gross profit270,000224,800
Income before taxes79,20078,700
Net income51,20051,700
December 31,
2016December 31,
2015
Liabilities$493,500$452,500
Common stock ($12 par)180,000180,000
Contributed capital in excess of par135,000135,000
Retained earnings 204,000 177,300
Total liabilities and equity $1,012,500 $944,800
188.The current year-end balance sheet data for a company are shown below. Calculate the company's:
(a) working capital
(b) current ratio
(c) acid-test ratio.
Assets:
Cash$38,000
Marketable securities45,000
Accounts receivable (net)127,500
Merchandise inventory149,500
Long-term investments135,000
Plant assets (net) 517,500
Total assets $1,012,500
Liabilities and equity:
Accounts payable$148,700
Accrued liabilities90,000
Notes payable (secured by plant assets)254,800
Common stock ($12 par)180,000
Contributed capital in excess of par135,000
Retained earnings 204,000
Total liabilities and equity $1,012,500
189.The comparative income statements for Silverlight Company are shown below. Calculate the following ratios for 2016:
(a) profit margin
(b) gross margin
(c) times interest earned.
Silverlight Company
Income Statements
For Years Ended December 31
20162015
Net sales$720,000$607,500
Cost of goods sold 450,000 382,700
Gross profit$270,000$224,800
Operating expense 168,500 134,900
Income from operations$101,500$89,900
Interest expense 22,300 11,200
Income before taxes$79,200$78,700
Income taxes 28,000 27,000
Net income $51,200 $51,700