The following information is available for Crane Enterprises: 2014 2013 Current liabilities $168,000 $196,000 Long-term liabilities 272,000 336,000 Common stockholders' equity 732,000 880,000 Preferred stockholders’ equity 108,000 108,000 Dividends paid to common stockholders 38,400 33,600 Dividends paid to preferred stockholders 31,520 9,600 Interest expense 20,000 16,800 Net income 96,000 160,000 Income tax expense 34,000 43,200 Net sales 4,760,000 4,960,000 Common shares outstanding 64,000 59,200 Calculate each of the following for 2014. (Round last four answers to 1 decimal place, e.g. 527.5.) Payout ratio for 2014 enter the payout ratio for 2014 in percentages % Return on common stockholders’ equity for 2014 enter the return on common stockholders’ equity for 2014 in percentages % Times interest earned for 2014 enter the number of times interest earned for 2014 rounded to 1 decimal place times Debt to assets ratio for 2014 enter the debt to assets ratio for 2014 in percentages rounded to 1 decimal place % Return on assets for 2014 enter the return on assets for 2014 in percentages rounded to 1 decimal place % Asset turnover for 2014 enter the asset turnover for 2014 in number of times rounded to 1 decimal place times

Financial Accounting

14th Edition

ISBN:9781305088436

Author:Carl Warren, Jim Reeve, Jonathan Duchac

Publisher:Carl Warren, Jim Reeve, Jonathan Duchac

Chapter17: Financial Statement Analysis

Section: Chapter Questions

Problem 17E

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The following information is available for Crane Enterprises:

	2014	2013
Current liabilities	$168,000	$196,000
Long-term liabilities	272,000	336,000
Common stockholders' equity	732,000	880,000
Preferred stockholders’ equity	108,000	108,000
Dividends paid to common stockholders	38,400	33,600
Dividends paid to preferred stockholders	31,520	9,600
Interest expense	20,000	16,800
Net income	96,000	160,000
Income tax expense	34,000	43,200
Net sales	4,760,000	4,960,000
Common shares outstanding	64,000	59,200

Calculate each of the following for 2014. (Round last four answers to 1 decimal place, e.g. 527.5.)

Payout ratio for 2014

enter the payout ratio for 2014 in percentages %

Return on common stockholders’ equity for 2014

enter the return on common stockholders’ equity for 2014 in percentages %

Times interest earned for 2014

enter the number of times interest earned for 2014 rounded to 1 decimal place times

Debt to assets ratio for 2014

enter the debt to assets ratio for 2014 in percentages rounded to 1 decimal place %

Return on assets for 2014

enter the return on assets for 2014 in percentages rounded to 1 decimal place %

Asset turnover for 2014

enter the asset turnover for 2014 in number of times rounded to 1 decimal place times

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