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