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Financial statements for Allendale Company follow:
Financial statements for Allendale Company follow:
ALLENDALE COMPANY  
Balance Sheets  
 2019   2018  
Assets        
Current assets        
Cash  $  40,000    $  36,000  
Marketable securities   20,000     6,000  
Accounts receivable (net)   54,000     46,000  
Inventories   135,000     143,000  
Prepaid items   25,000     10,000  
Total current assets   274,000     241,000  
Investments   27,000     20,000  
Plant (net)   270,000     255,000  
Land   29,000     24,000  
Total assets  $  600,000    $  540,000  
Liabilities and Stockholders’ Equity        
Liabilities        
Current liabilities        
Notes payable  $  17,000    $  6,000  
Accounts payable   113,800     100,000  
Salaries payable   21,000     15,000  
Total current liabilities   151,800     121,000  
Noncurrent liabilities        
Bonds payable   100,000     100,000  
Other   32,000     27,000  
Total noncurrent liabilities   132,000     127,000  
Total liabilities   283,800     248,000  
Stockholders’ equity        
Preferred stock, (par value $10, 4% cumulative, nonparticipating; 8,000 shares authorized and issued)   80,000     80,000  
Common stock (no par; 50,000 shares authorized; 10,000 shares issued)   80,000     80,000  
Retained earnings   156,200     132,000  
Total stockholders’ equity   316,200     292,000  
Total liabilities and stockholders’ equity  $  600,000    $  540,000  

ALLENDALE COMPANY  
Statements of Income and Retained Earnings  
       
 2019   2018  
Revenues        
Sales (net)  $  230,000    $  210,000  
Other revenues   8,000     5,000  
Total revenues   238,000     215,000  
Expenses        
Cost of goods sold   120,000     103,000  
Selling, general, and administrative   55,000     50,000  
Interest expense   8,000     7,200  
Income tax expense   23,000     22,000  
Total expenses   206,000     182,200  
Net earnings (net income)   32,000     32,800  
Retained earnings, January 1   132,000     107,000  
Less: Preferred stock dividends   3,200     3,200  
Common stock dividends   4,600     4,600  
Retained earnings, December 31  $  156,200    $  132,000  

Required:
Calculate the following ratios for 2019 and 2018. Since 2017 numbers are not presented do not use averages when calculating the ratios for 2018. Instead, use the number presented on the 2018 balance sheet.
Working capital.
Current ratio. (Round your answers to 2 decimal places.)
Quick ratio. (Round your answers to 2 decimal places.)
Receivables turnover (beginning receivables at January 1, 2018, were $47,000). (Round your answers to 2 decimal places.)
Average days to collect accounts receivable. (Round your intermediate calculations to 2 decimal places and your final answers to the nearest whole number.)
Inventory turnover (beginning inventory at January 1, 2018, was $140,000). (Round your answers to 2 decimal places.)
Number of days to sell inventory. (Round your intermediate calculations to 2 decimal places and your final answers to the nearest whole number.)
Debt to assets ratio. (Round your answers to the nearest whole percent.)
Debt to equity ratio. (Round your answers to 2 decimal places.)
Number of times interest was earned. (Round your answers to 2 decimal places.)
Plant assets to longterm debt. (Round your answers to 2 decimal places.)
Net margin. (Round your answers to 2 decimal places.)
Turnover of assets. (Round your answers to 2 decimal places.)
Return on investment. (Round your answers to 2 decimal places.)
Return on equity. (Round your answers to 2 decimal places.)
Earnings per share. (Round your answers to 2 decimal places.)
Book value per share of common stock. (Round your answers to 2 decimal places.)
Priceearnings ratio (market price per share: 2018, $11.75; 2019, $12.50). (Round your intermediate calculations and final answer to 2 decimal places.)
Dividend yield on common stock. (Round your answers to 2 decimal places.)
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