The following information pertains to Sheridan Company: Cash $21,500 Accounts receivable 125,000 Inventory 75,500 Plant assets (net) 384,000 Total assets $606,000 Accounts payable $74,500 Accrued taxes and expenses payable 25,500 Long-term debt 48,500 Common stock ($10 par) 155,000 Paid-in capital in excess of par 89,500 Retained earnings 213,000 Total equities $606,000 Net sales (all on credit) $801,000 Cost of goods sold 601,500 Net income 81,500 Compute the following: (Round answers to 2 decimal places e.g. 15.25.) (a) Current ratio : 1 (b) Inventory turnover times (c) Accounts receivable turnover times (d) Book value per share $ (e) Earnings per share $ (f) Debt to assets % (g) Profit margin on sales % (h) Return on common stockholders’ equity %
The following information pertains to Sheridan Company: Cash $21,500 Accounts receivable 125,000 Inventory 75,500 Plant assets (net) 384,000 Total assets $606,000 Accounts payable $74,500 Accrued taxes and expenses payable 25,500 Long-term debt 48,500 Common stock ($10 par) 155,000 Paid-in capital in excess of par 89,500 Retained earnings 213,000 Total equities $606,000 Net sales (all on credit) $801,000 Cost of goods sold 601,500 Net income 81,500 Compute the following: (Round answers to 2 decimal places e.g. 15.25.) (a) Current ratio : 1 (b) Inventory turnover times (c) Accounts receivable turnover times (d) Book value per share $ (e) Earnings per share $ (f) Debt to assets % (g) Profit margin on sales % (h) Return on common stockholders’ equity %
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Question
17.
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The following information pertains to Sheridan Company:
Compute the following: (Round answers to 2 decimal places e.g. 15.25.)
| Cash | $21,500 | ||
| Accounts receivable | 125,000 | ||
| Inventory | 75,500 | ||
| Plant assets (net) | 384,000 | ||
| Total assets | $606,000 | ||
| Accounts payable | $74,500 | ||
| Accrued taxes and expenses payable | 25,500 | ||
| Long-term debt | 48,500 | ||
| Common stock ($10 par) | 155,000 | ||
| Paid-in capital in excess of par | 89,500 | ||
| Retained earnings | 213,000 | ||
| Total equities | $606,000 | ||
| Net sales (all on credit) | $801,000 | ||
| Cost of goods sold | 601,500 | ||
| Net income | 81,500 |
Compute the following: (Round answers to 2 decimal places e.g. 15.25.)
| (a) | : 1 | |||||
| (b) | Inventory turnover | times | ||||
| (c) | Accounts receivable turnover | times | ||||
| (d) | Book value per share | $ | ||||
| (e) | Earnings per share | $ | ||||
| (f) | Debt to assets | % | ||||
| (g) | Profit margin on sales | % | ||||
| (h) | Return on common |
% |
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