Question: Using the financial statements for the Snider Corporation calculate the

Using the financial statements for the Snider Corporation, calculate the 13 basic ratios found in the chapter.

SNIDER CORPORATION
Balance Sheet
December 31, 2013
Assets
Current assets:
Cash $ 52,200
Marketable securities 24,400
Accounts receivable (net) 222,000
Inventory   238,000
Total current assets $536,000
Investments 65,900
Plant and equipment 615,000
Less: Accumulated depreciation (271,000)
Net plant and equipment    344,000
Total assets $946,500


Liabilities and Stockholders’ Equity
Current liabilities
Accounts payable $93,400
Notes payable 70,600
Accrued taxes      17,000
Total current liabilities 181,000
Long-term liabilities:
Bonds payable 153,200
Total liabilities $334,200
Stockholders’ equity
Preferred stock, $50 per value 100,000
Common stock, $1 par value 80,000
Capital paid in excess of par 190,000
Retained earnings   242,300
Total stockholders’ equity 612,300
Total liabilities and stockholders’ equity $946,500

SNIDER CORPORATION

Income statement
For the Year Ending December 31, 2013

Sales (on credit)
$2,064,000

Less: Cost of goods sold
 1,313,000

Gross profit
751,000

Less: Selling and administrative expenses
 496,000*

Operating profit (EBIT)
255,000

Less: Interest expense
 26,900

Earnings before taxes (EBT)
228,100

Less: Taxes
 83,300

Earnings after taxes (EAT)
$ 144,800

*Includes $36,100 in lease payments.




Sale on SolutionInn
Sales25
Views1446
Comments
  • CreatedOctober 14, 2014
  • Files Included
Post your question
5000