The comparative statements of Osborne Company are presented here.
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OSBORNE COMPANY
Income Statements
For the Years Ended December 31
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2014
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2013
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Net sales
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$1,899,312
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$1,759,272
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Cost of goods sold
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1,067,312
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1,014,772
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Gross profit
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832,000
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744,500
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Selling and administrative expenses
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508,772
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487,772
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Income from operations
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323,228
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256,728
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Other expenses and losses
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Interest expense
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23,813
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21,813
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Income before income taxes
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299,415
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234,915
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Income tax expense
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93,813
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74,813
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Net income
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mce_markernbsp;205,602
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mce_markernbsp;160,102
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OSBORNE COMPANY
Balance Sheets
December 31
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Assets
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2014
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2013
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Current assets
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Cash
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mce_markernbsp;60,100
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mce_markernbsp;64,200
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Debt investments (short-term)
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74,000
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50,000
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Accounts receivable
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126,572
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111,572
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Inventory
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127,813
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117,313
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Total current assets
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388,485
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343,085
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Plant assets (net)
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660,690
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531,990
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Total assets
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$1,049,175
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$875,075
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Liabilities and Stockholders' Equity
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Current liabilities
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Accounts payable
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mce_markernbsp;168,772
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$154,172
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Income taxes payable
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45,313
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43,813
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Total current liabilities
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214,085
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197,985
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Bonds payable
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231,690
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211,690
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Total liabilities
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445,775
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409,675
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Stockholders' equity
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Common stock ($5 par)
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290,000
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300,000
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Retained earnings
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313,400
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165,400
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Total stockholders' equity
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603,400
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465,400
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Total liabilities and stockholders' equity
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$1,049,175
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$875,075
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All sales were on account. Net cash provided by operating activities for 2014 was $232,270. Capital expenditures were $136,970, and cash dividends were $57,602.
Compute the following ratios for 2014. (Round all answers to 2 decimal places, e.g. 1.83 or 12.61%.)
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(a)
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Earnings per share
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$
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(b)
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Return on common stockholders' equity
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%
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(c)
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Return on assets
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%
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(d)
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Current ratio
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:1
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(e)
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Accounts receivable turnover
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times
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(f)
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Average collection period
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days
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(g)
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Inventory turnover
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times
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(h)
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Days in inventory
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days
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(i)
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Times interest earned
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times
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(j)
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Asset turnover
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times
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(k)
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Debt to assets
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%
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(l)
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Current cash debt coverage
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times
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(m)
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Cash debt coverage
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times
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(n)
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Free cash flow
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$
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