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10. Choice (You must choose 6 questions from among #'s 5-13 to answer): Condensed financial statements for Robeson Company appear below: Comparative Balance Sheets 2014 $ 128,000 472,000 797,000 81,000 2013 $ 201,000 438,000 673,000 92,000 2,428,000 $3,832,000 Cash Accounts receivable Inventories Prepaid expenses Plant and equipment (net) Total assets 2,655,000 $4,133,000 $ 198,000 1,000,000 450,000 $ 280,600 1,000,000 450,000 Accounts payable Long-term bonds payable Preferred stock, 10%, $100 par Common stock, no par Retained earnings Total liabilities and equities 1,800,000 685,000 1,800,000 301,400 $3,832,000 $4,133,000 Income Statement December 31, 2014 Sales, net $5,400,000 Less cost of goods sold Gross margin Less operating expenses Net operating income Interest expense Net income before taxes 3,240,000 2,160,000 1,010,000 1,150,000 80,000 1,070,000 321,000 $ 749,000 Less income taxes Net income There were 72,000 shares of common stock outstanding throughout the 2014. Dividends on common stock amounted to $320,400 and dividends on preferred stock amounted to $45,000. The market value of a share c common stock was $54 at the end of 2014. The income tax rate is 30%. Refer to the preceding financial statements and other information. Calculate the following ratios 2014. Working Capital Current Ratio A. В. С. Inventory Turnover

10. Choice (You must choose 6 questions from among #'s 5-13 to answer): Condensed financial statements for Robeson Company appear below: Comparative Balance Sheets 2014 $ 128,000 472,000 797,000 81,000 2013 $ 201,000 438,000 673,000 92,000 2,428,000 $3,832,000 Cash Accounts receivable Inventories Prepaid expenses Plant and equipment (net) Total assets 2,655,000 $4,133,000 $ 198,000 1,000,000 450,000 $ 280,600 1,000,000 450,000 Accounts payable Long-term bonds payable Preferred stock, 10%, $100 par Common stock, no par Retained earnings Total liabilities and equities 1,800,000 685,000 1,800,000 301,400 $3,832,000 $4,133,000 Income Statement December 31, 2014 Sales, net $5,400,000 Less cost of goods sold Gross margin Less operating expenses Net operating income Interest expense Net income before taxes 3,240,000 2,160,000 1,010,000 1,150,000 80,000 1,070,000 321,000 $ 749,000 Less income taxes Net income There were 72,000 shares of common stock outstanding throughout the 2014. Dividends on common stock amounted to $320,400 and dividends on preferred stock amounted to $45,000. The market value of a share c common stock was $54 at the end of 2014. The income tax rate is 30%. Refer to the preceding financial statements and other information. Calculate the following ratios 2014. Working Capital Current Ratio A. В. С. Inventory Turnover

Survey of Accounting (Accounting I)
Survey of Accounting (Accounting I)
8th Edition
ISBN:9781305961883
Author:Carl Warren
Publisher:Carl Warren
Chapter9: Metric-analysis Of Financial Statements
Section: Chapter Questions
Problem 9.17E: Profitability metrics The following selected data were taken from the financial statements of The...
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10. Choice (You must choose 6 questions from among #'s 5-13 to answer): Condensed financial statements for Robeson Company appear below: Comparative Balance Sheets 2014 $ 128,000 472,000 2013 $ 201,000 438,000 Cash Accounts receivable Inventories 797,000 673,000 81,000 92,000 Prepaid expenses Plant and equipment (net) Total assets 2,655,000 $4,133,000 2,428,000 $3,832,000 $ 280,600 1,000,000 450,000 1,800,000 301,400 $3,832,000 $ 198,000 1,000,000 Accounts payable Long-term bonds payable Preferred stock, 10%, $100 par Common stock, no par Retained earnings Total liabilities and equities 450,000 1,800,000 685,000 $4,133,000 Income Statement December 31, 2014 $5,400,000 3,240,000 2,160,000 Sales, net Less cost of goods sold Gross margin Less operating expenses Net operating income Interest expense Net income before taxes 1,010,000 1,150,000 80,000 1,070,000 321,000 $ 749,000 Less income taxes Net income There were 72,000 shares of common stock outstanding throughout the 2014. Dividends on common stock amounted to $320,400 and dividends on preferred stock amounted to $45,000. The market value of a share of common stock was $54 at the end of 2014. The income tax rate is 30%. Refer to the preceding financial statements and other information. Calculate the following ratios for 2014. Working Capital Current Ratio A. В. Inventory Turnover Gross Profit Percentage С. D. Е. Accounts Receivable Turnover F. Debt Ratio Debt to Equity Ratio Profit Margin Ratio Earnings per Share Price/Earnings Ratio G. Н. I. J. DEIDRE ROGERS
Transcribed Image Text:10. Choice (You must choose 6 questions from among #'s 5-13 to answer): Condensed financial statements for Robeson Company appear below: Comparative Balance Sheets 2014 $ 128,000 472,000 2013 $ 201,000 438,000 Cash Accounts receivable Inventories 797,000 673,000 81,000 92,000 Prepaid expenses Plant and equipment (net) Total assets 2,655,000 $4,133,000 2,428,000 $3,832,000 $ 280,600 1,000,000 450,000 1,800,000 301,400 $3,832,000 $ 198,000 1,000,000 Accounts payable Long-term bonds payable Preferred stock, 10%, $100 par Common stock, no par Retained earnings Total liabilities and equities 450,000 1,800,000 685,000 $4,133,000 Income Statement December 31, 2014 $5,400,000 3,240,000 2,160,000 Sales, net Less cost of goods sold Gross margin Less operating expenses Net operating income Interest expense Net income before taxes 1,010,000 1,150,000 80,000 1,070,000 321,000 $ 749,000 Less income taxes Net income There were 72,000 shares of common stock outstanding throughout the 2014. Dividends on common stock amounted to $320,400 and dividends on preferred stock amounted to $45,000. The market value of a share of common stock was $54 at the end of 2014. The income tax rate is 30%. Refer to the preceding financial statements and other information. Calculate the following ratios for 2014. Working Capital Current Ratio A. В. Inventory Turnover Gross Profit Percentage С. D. Е. Accounts Receivable Turnover F. Debt Ratio Debt to Equity Ratio Profit Margin Ratio Earnings per Share Price/Earnings Ratio G. Н. I. J. DEIDRE ROGERS
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