The comparative statements of Wahlberg Company are presented here.
Wahlberg Company
Income Statement
For the Years Ended December 31
2020
2019
Net sales
$1,817,500 $1,753,100
Cost of goods sold
1,008,600 978,000
Gross profit
808,900 775,100
Selling and administrative expenses
519,200 480,800
Income from operations
289,700 294,300
Other expenses and losses
Interest expense
18,900 14,100
Income before income taxes
270,800 280,200
Income tax expense
81,512 78,000
Net income
$ 189,288 $ 202,200
Wahlberg Company
Balance Sheets
December 31
Assets
2020
2019
Current assets
Cash
$60,300 $64,500
Debt investments (short-term)
68,300 50,500
Accounts receivable
116,100 101,000
Inventory
122,700 115,200
Total current assets
367,400 331,200
Plant assets (net)
603,300 521,600
Total assets
$970,700 $852,800
Liabilities and Stockholders’ Equity
Current liabilities
Accounts payable
$161,000 $145,900
Income taxes payable
43,100 41,900
Total current liabilities
204,100 187,800
Bonds payable
220,000 200,000
Total liabilities
424,100 387,800
Stockholders’ equity
Common stock ($5 par)
276,200 297,400
Retained earnings
270,400 167,600
Total stockholders’ equity
546,600 465,000
Total liabilities and stockholders’ equity
$970,700 $852,800
All sales were on account. Net cash provided by operating activities for 2020 was $240,000. Capital expenditures were $146,000, and cash dividends were $86,488.
Compute the following ratios for 2020. (Round Earnings per share, Current ratio and Asset turnover to 2 decimal places, e.g. 1.65 or 1.65:1, and all other answers to 1 decimal place, e.g. 6.8 or 6.8%. Use 365 days for calculation.)
(a)
Earnings per share
$enter your answer rounded to 2 decimal places
(b)
Return on common stockholders’ equity
enter your answer rounded to 1 decimal place
%
(c)
Return on assets
enter your answer rounded to 1 decimal place
%
(d)
Current ratio
enter your answer rounded to 2 decimal places
:1
(e)
Accounts receivable turnover
enter your answer rounded to 1 decimal place
times
(f)
Average collection period
enter your answer rounded to 1 decimal place
days
(g)
Inventory turnover
enter your answer rounded to 1 decimal place
times
(h)
Days in inventory
enter your answer rounded to 1 decimal place
days
(i)
Times interest earned
enter your answer rounded to 1 decimal place
times
(j)
Asset turnover
enter your answer rounded to 2 decimal places
times
(k)
Debt to assets ratio
enter your answer rounded to 1 decimal place
%
(l)
Free cash flow
$enter your answer in dollars