ACC 203 The comparative statements of Lauer Company are presented below and Compute the following ratios for 2017
For the Year Ended December 31
|Net sales (all on account)||$650,000||$520,000|
|Cost of goods sold||415,000||354,000|
|Selling and administrative||150,800||114,800|
|Income tax expense||18,000||14,000|
|Net income||$ 59,000||$ 31,200|
|Cash||$ 41,000||$ 18,000|
|Accounts receivable (net)||92,000||74,000|
|Total current assets||235,000||177,000|
|Plant assets (net)||403,000||383,000|
|Liabilities and Stockholders’ Equity|
|Income taxes payable||23,000||20,000|
|Total current liabilities||145,000||130,000|
|Common stock ($5 par)||150,000||150,000|
|Total stockholders’ equity||383,000||350,000|
|Total liabilities and stockholders’ equity||$638,000||$560,000|
The common stock recently sold at $19.50 per share.
Compute the following ratios for 2017.
(a) Current. (h) Return on common stockholders’ equity
(b) Acid-test. (i) Earnings per share
(c) Accounts receivable turnover. (j) Price-earnings
(d) Inventory turnover. (k) Payout.
(e) Profit margin. (l) Debt to assets.
(f) Asset turnover. (m) Times interest earned.
(g) Return on assets.
Course: ACC 203 Managerial Accounting
School: Community College of Alleghany County