Problem 13-02A (Video) The comparative statements of Crane Company are presented here: Crane Company Income Statements...
Fantastic news! We've Found the answer you've been seeking!
Question:
Transcribed Image Text:
Problem 13-02A (Video) The comparative statements of Crane Company are presented here: Crane Company Income Statements For the Years Ended December 31 Net sales Cost of goods sold Gross profit Selling and administrative expenses Income from operations Other expenses and losses Interest expense Income before income taxes Income tax expense Net income 2020 $1,896,140 1,064,140 832,000 505,600 326,400 23,800 302,600 93,800 $208,800 2019 $1,756,100 1,011,600 744,500 484,600 259,900 21,800 238,100 74,800. $163,300 Assets Current assets Cash Debt investments (short-term) Accounts receivable Inventory Total current assets Plant assets (net). Total assets Crane Company Balance Sheets December 31 Liabilities and Stockholders' Equity Current liabilities Accounts payable Income taxes payable Total current liabilities. Bonds payable 2020 $60,100 74,000 123,400 127,800 2019 $64,200 50,000 108,400 117,300 385,300 339,900 659,000 530,300 $1,044,300 $870,200 $165,600 $151,000 45,300 43,800 210,900 194,800 230,000 210,000 440,900 404,800 Total liabilities. Stockholders' equity Common stock ($5 par) Retained earnings Total stockholders' equity Total liabilities and stockholders' equity All sales were on account. Net cash provided by operating activities for 2020 was $236,000. Capital expenditures were $136,000, and cash dividends were $60,800. 290,000 300,000 313,400 165,400 603,400 465,400 $1,044,300 $870,200 Compute the following ratios for 2020. (Round free cash flow to 0 decimal places, e.g. 5,275 and all other answers to 2 decimal places, e.g. 1.83 or 1.83%. Use 365 days for calculation.) (a) Earnings per share (b) Return on common stockholders' equity (c) Return on assets (d) Current ratio (e) Accounts receivable turnover (f) Average collection period. (9) Inventory turnover (h) Days in inventory (0) Times interest earned (i) (k) (0) Asset turnover Debt to assets ratio Free cash flow 5 % % :1 times. days. times days. times times % Click if you would like to Show Work for this question: Open Show Work Problem 13-02A (Video) The comparative statements of Crane Company are presented here: Crane Company Income Statements For the Years Ended December 31 Net sales Cost of goods sold Gross profit Selling and administrative expenses Income from operations Other expenses and losses Interest expense Income before income taxes Income tax expense Net income 2020 $1,896,140 1,064,140 832,000 505,600 326,400 23,800 302,600 93,800 $208,800 2019 $1,756,100 1,011,600 744,500 484,600 259,900 21,800 238,100 74,800. $163,300 Assets Current assets Cash Debt investments (short-term) Accounts receivable Inventory Total current assets Plant assets (net). Total assets Crane Company Balance Sheets December 31 Liabilities and Stockholders' Equity Current liabilities Accounts payable Income taxes payable Total current liabilities. Bonds payable 2020 $60,100 74,000 123,400 127,800 2019 $64,200 50,000 108,400 117,300 385,300 339,900 659,000 530,300 $1,044,300 $870,200 $165,600 $151,000 45,300 43,800 210,900 194,800 230,000 210,000 440,900 404,800 Total liabilities. Stockholders' equity Common stock ($5 par) Retained earnings Total stockholders' equity Total liabilities and stockholders' equity All sales were on account. Net cash provided by operating activities for 2020 was $236,000. Capital expenditures were $136,000, and cash dividends were $60,800. 290,000 300,000 313,400 165,400 603,400 465,400 $1,044,300 $870,200 Compute the following ratios for 2020. (Round free cash flow to 0 decimal places, e.g. 5,275 and all other answers to 2 decimal places, e.g. 1.83 or 1.83%. Use 365 days for calculation.) (a) Earnings per share (b) Return on common stockholders' equity (c) Return on assets (d) Current ratio (e) Accounts receivable turnover (f) Average collection period. (9) Inventory turnover (h) Days in inventory (0) Times interest earned (i) (k) (0) Asset turnover Debt to assets ratio Free cash flow 5 % % :1 times. days. times days. times times % Click if you would like to Show Work for this question: Open Show Work
Expert Answer:
Related Book For
Accounting Tools for Business Decision Making
ISBN: 978-1118128169
5th edition
Authors: Paul D. Kimmel, Jerry J. Weygandt, Donald E. Kieso
Posted Date:
Students also viewed these accounting questions
-
Sales Cost of Goods Sold Gross Profit Selling and Administrative Expenses EBIT Interest Expense Income before Tax Income Statement 2017 Taxes Net Income $ 7,000,000 5,000,000 $ 2,000,000 $ $ $...
-
Presented here is the income statement for Big Surf, Inc., for the month of May: Sales . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ....
-
For the years ended December 31 2019 2018 Revenue $ 567,908 $ 508,201 Operating earnings $ 58,370 $ 46,263 Net earnings $ 24,159 $ 50,943 Basic earnings per common share $ 0.63 $ 1.32 As at December...
-
Let z(k) denote the k-year continuously compounded zero-coupon yield for the current term structure. You are given that z(1) = 0.035, z(2) = 0.041, z(3) = 0.045, z(4) = 0.049, z(5) = 0.051, z(6) =...
-
How does the web change political communication?
-
On July 1 of this year, R. Green established the Green Rehab Clinic. The organization's account headings are presented below. Transactions completed during the month of July follow. a. Green...
-
The following transactions occurred during April 2010, for Sandy Salon Products, Inc.: Requirement 1. Journalize the April transactions for Sandy Salon Products, Inc. Omit explanations. Apr 3...
-
China is a signatory country to the Madrid Protocol on the international registration of trademarks. Starbucks opened its first cafe in China in 1999 and has added outlets in numerous locations...
-
Find the derivative of f(x)=6e5+e-x f'(x) = 9.
-
Pathfinder College is a small liberal arts college that wants to improve its admissions process. In particular, too many of its incoming freshmen have failed to graduate for a variety of reasons,...
-
You are anxious to put Jose's maintenance crew to work. They have plumbing and general construction skills, so you assign them to activity 1.1 (Demolish walls in the expansion space). They finish...
-
The total market value of the common stock of the Okefenokee Real Estate Company is $11.5 million, and the total value of its debt is $7.5 million. The treasurer estimates that the beta of the stock...
-
How do data-driven analytics and predictive modeling empower organizational leaders to anticipate and navigate disruptive forces, fostering proactive rather than reactive responses to change ?
-
Question 1 Identify the project management approach or methodology used in this Gantt chart. How would you improve the Gantt chart using the identified project management approach? Question 2 Create...
-
In the Strayer Online Library, go to the EBSCO-Host Academic database. Find a recent research article from a scholarly journal in the field of sociology. It must have been published less than 12...
-
A treasury bond has maturity T = 10Y and pays at the end of each year a coupon of $5.00 on a face value of $100. The risk-free interest rate for all maturities is 4.0% with continuous compounding....
-
The two opposing pressures that managers face when they decide to go overseas are pressure to Blank______. Multiple choice question. provide fair compensation and not affecting the local economy...
-
Explain five different cases of income exempt from tax with clear examples.
-
Bob Royce incorporated Royce Consulting, an accounting practice, on May 1, 2014. During the first month of operations, these events and transactions occurred. May 1 Stockholders invested $100,000...
-
Farwell Company acquired 30% of the outstanding common stock of Ingold Inc. on January 1, 2014, by paying $1,800,000 for 60,000 shares. Ingold declared and paid a $0.50 per share cash dividend on...
-
Natalie Pendlay, the chief financial officer of Mullins Inc., is considering the options available to her for financing the companys new plant. Short-term interest rates right now are 6%, and...
-
A stepped bar, fixed at \(x=0\) and free at \(x=l\), has a cross-sectional area of \(2 A\) for \(0 \leq x
-
Estimate the fundamental frequency for the longitudinal vibration of a uniform bar fixed at \(x=0\) and free at \(x=l\) by assuming the mode shapes as (a) \(U(x)=c_{1}(x / l)\) and (b) \(U(x)=c_{1}(x...
-
Estimate the fundamental frequency of a fixed-fixed string, assuming the mode shape (a) \(W(x)=c_{1} x(l-x)\) and (b) \(W(x)=c_{1} x(l-x)+c_{2} x^{2}(l-x)^{2}\).
Study smarter with the SolutionInn App