Question: Selected current year - end financial statements of Overton Corporation follow. ( All sales were on credit; selected balance sheet amounts at December 3 1

Selected current year-end financial statements of Overton Corporation follow. (All sales were on credit; selected balance sheet amounts at December 31 of the prior year were inventory, $17,400; total assets, $94,900; common stock, $35,500; and retained earnings, $18,800.)
OVERTON CORPORATION
Income Statement
For Current Year Ended December 31
Sales $315,500
Cost of goods sold 236,100
Gross profit 79,400
Operating expenses 49,200
Income before taxes 28,000
Income tax expense 4,200
Net income $23,800
OVERTON CORPORATION
Balance Sheet
December 31 of Current Year
Assets Liabilities and Equity
Cash $6,100 Accounts payable $ 11,500
Short-term investments 6,900 Accrued wages payable 3,300
Accounts receivable,net 15,100 Income taxes payable 2,600
Merchandise inventory 13,500 Long-term note payable, secured by
Prepaid expenses 2,000 mortgage on plant assets 30,000
Plant assets, net 73,900 Common stock,$5 par value 35,000
Retained earnings 35,100
Total assets $117,500 Total liabilities and equity $117,500
Required
Compute the following: (1) current ratio, (2) acid-test ratio, (3) days sales uncollected, (4) inventory turnover, (5) days sales in inventory, (6) debt-to-equity ratio, (7) times interest earned, (8) profit margin ratio, (9) total asset turnover, (10) return on total assets, and (11) return on equity. Round to one decimal place; for part 6, round to two decimals.
Check Acid-test ratio, 1.6 to 1; Inventory turnover, 15.3 OVERTON CORPORATION

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