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Assignment
OSBORNE COMPANY Income Statements For the Years Ended December 31
2014
2013
Net sales
$1,896,280
$1,756,240
Cost of goods sold
1,064,280
1,011,740
Gross profit
832,000
744,500
Selling and administrative expenses
505,740
484,740
Income from operations
326,260
259,760
Other expenses and losses
Interest expense
23,764
21,764
Income before income taxes
302,496
237,996
Income tax expense
93,764
74,764
Net income
$ 208,732
$ 163,232
OSBORNE COMPANY Balance Sheets December 31
Assets
Current assets
Cash
$ 60,100
$ 64,200
Debt investments (short-term)
74,000
50,000
Accounts receivable
123,540
108,540
Inventory
127,764
117,264
Total current assets
385,404
340,004
Plant assets (net)
659,814
531,114
Total assets
$1,045,218
$871,118
Liabilities and Stockholders' Equity
Current liabilities
Accounts payable
$ 165,740
$151,140
Income taxes payable
45,264
43,764
Total current liabilities
211,004
194,904
Bonds payable
230,814
210,814
Total liabilities
441,818
405,718
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 $238,520. Capital expenditures were $136,680, and cash dividends were $60,732.
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 (e) Accounts receivable turnover times(f) Average collection period days(g) Inventory turnover times(h) Days in inventory days(i) Times interest earned times(j) Asset turnover times(k) Debt to assets(l) Current cash debt coverage times(m) Cash debt coverage times(n)Free cash flow.
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