ACC 112 Project 1B The below represents the comparative financial statements of Kamla Corporation 2016 Kamla Corporation Comparative Income Statement For the Years Ended December 31, 2016 and 2015 2015 Net sales (all on account) $1,098,000 $1,002,000 Expenses: Cost of goods sold $808,000 $700,000 Selling and administrative 200,000 218,000 Interest expense 12,000 12,000 Income tax expense 32,000 20,000 Total expenses $1,052.000 $950,000 Net income $46,000 $52,000 Kamla Corporation Comparative Balance Sheet December 31, 2016 and 2015 2016 2015 Current assets: Cash $30,000 34,000 170,000 180.000 $36,000 27,400 147,600 135,000 346,000 766,000 $1.112.000 414,000 840,000 $1,254,000 Notes receivable Accounts receivable (net) Inventory Total current assets Property, plant, and equipment (net) Total assets Liabilities and Stockholders' Equity Current abilities: Accounts payable Notes payable Total current liabilities Long-term liabilities: Bonds payable Total liabilities Stockholders' equity: Common stock ($5 par) Retained earnings Total stockholders' equity Total liabilities and stockholders' equity $240,000 56,000 $296,000 $220,000 38,000 $258,000 160,200 230,000 $526,000 $418,200 $300,000 428,000 728,000 $300,000 393,800 $693,800 $1,254,000 $1,112,000 Additional data: 1) The common stock recently sold at $30 per share. 2) The weighted average common shares outstanding for the two years, 2015 and 2016, was 50,000 shares. Compute the current ratio for 2016. (Round answer to 2 decimal places. Do not use dollar signs (S) when entering amounts. To see comma-formatted numbers reflected in your final answers, you must enter your answers with Convas.) Additional data: 1) The common stock recently sold at $30 per share. 2) The weighted-average common shares outstanding for the two years, 2015 and 2016, was 50,000 shares Compute the current ratio for 2016. (Round answer to 2 decimal places. Do not use dollars (5) when entering amounts. To see com -formatted numbers reflected in your final answers, you must enter your answers with C Current Ratio - What does this calculated ratio mean? (Round answer to 2 decimal places. Do not use dollar signs (5) when entering amounts. To see comma-formatted numbers reflected in your final answers, you must enter your answers with comma.) For every dollar of the company needs to pay, it has s to e Before moving onto the next section, please do the following for screen the click on the hyperlinks below: 1. Scroll to the end of the page and click on the "Save for Laterbutton to save your work 2. When you are ready to begin the next section, you can reference the work that you have completed by clicking on the "Printer Version" button at the top of the page. Doing this will open your saved answers in a new window to help you complete the next section. button until you Complete these steps each time you have finished a section. Do not click on the Submit Answer have completed all of the sections Compute the acid-test ratio for 2016. (Round answer to 2 decimal places. Do not use dollar signs (S) when entering amounts. To see comma-formatted numbers reflected in your final answers, you must enter your answers with Acid-Test Ratio What does this calculated ratio mean? (Round answer to 2 decimal places. Do not use dollars (5) when entering amounts. To see comma-formatted numbers reflected in your final answers, you must enter your answers with Comas) For every dollar of the company needs to pay has s of very Before moving onto the next section, please do the following for scree n click on the hyper b ow 1. Scroll to the end of the page and click on the "Save for later button to save your work 2. When you are ready to begin the next section you can reference the work that you have completed by clicking on the button at the top of the page. Doing this will open your ved answer window to help CALCULATOR PRINTER VERSION BACK NEXT 2. When you are ready to begin the next section, you can reference the work that you have completed by clicking on the Printer Version button at the top of the page. Doing this will open your saved answers in a new window to help you complete the next section. e rs button to you Complete these steps each time you have finished a section. Do not click on the subm have completed all of the sections Compute the receivables turnover ratio for 2016. (Round answer to 2 decimal places. Do not use dollar signs (S) when entering amounts. To see formatted numbers reflected in your final answers, you must enter your answers with commas) Accounts Receivable Turnover What does this calculated ratio mean? (Round answer to 2 decimal places. Do not use dollar signs (S) when entering amounts. To see comma-formatted numbers reflected in your final answers, you must enter your answers with commas.) The Company an average of times a year/period. Before moving onto the next section, please do the following for screen help, click on the hyperlinks below) 1. Scroll to the end of the page and click on the "Save for Later" button to save your work 2. When you are ready to begin the next section, you can reference the work that you have completed by clicking on the "Printer Version" button at the top of the page. Doing this will open your saved answers in a new window to help you complete the next section Complete these steps each time you have finished a section. Do not click on the Submit Answers" butten until you have completed all of the sections Compute the inventory turnover ratio for 2016. (Round answer to 2 decimal places. Do not use dollar signs (S) when entering amounts. To see comma-formatted numbers reflected in your final answers, you must enter your answers Inventory Turnover What does this calculated ratio mean? (Round answer to 2 decimal places. Do not use doar signs (S) when entering amounts. To se con formatted numbers reflected in your final answers, you must enter your answers with Comas) The Company an average of times a year period Before moving onto the next section, please do the following for screen help, click on the hyperlinks below) 1. Scroll to the end of the page and click on these for button to save your work 2. When you are ready to begin the next section, you can reference the work that you have completed by clicking on the P e rion button at the top of the page. Doing this will open your saved answers in a new window to help you complete the next section Complete these steps each time you have finished a section. Do not click on the "Submit Answers" button until you 2. When you are ready to begin the next section, you can reference the work that you have completed by clicking on the Printer Version" button at the top of the page. Doing this will open your saved answers in a new window to help you complete the next section Complete these steps each time you have finished a section. Do not click on the submit Answers" button until you have completed all of the sections LINK TO TEXT Compute the profit margin ratio for 2016. (Round answer to 2 decimal places. Do not use dollar signs (5) when entering amounts. To see comma-formatted numbers reflected in your final answers, you must enter your answers with comma.) Profit Margin What does this calculated ratio mean? (Round answer to 2 decimal places. Do not use dollar signs (S) when entering amounts. To see comma-formatted numbers reflected in your final answers, you must enter your answers with commas.) The Company % on each dollar of every period Before moving onto the next section, please do the following for screen help, click on the hyperlinks below) 1. Scroll to the end of the page and click on the "Save for Later" button to save your work. 2. When you are ready to begin the next section, you can reference the work that you have completed by clicking on the "Printer Version" button at the top of the page. Doing this will open your saved answers in a new window to help you complete the next section, Complete these steps each time you have finished a section. Do not click on the Submit Answers button until you have completed all of the sections Compute the asset turnover ratio for 2016. (Round answer to 2 decimal places. Do not use dollar signs (s) when entering amounts. To se com -formatted numbers reflected in your final answers, you must enter your answers with commas.) Asset turnover What does this calculated ratio mean? (Round answer to 2 decimal places. Do not use dollar signs (5) when entering amounts. To se comma-formatted numbers reflected in your final answers, you must enter your answers with The Company generates $ of for each dollarit in its Before moving onto the next section, please do the following for screen hele click on the hyperlinks below) 1. Scroll to the end of the page and click on the same for ter button to save your work 2. When you are ready to begin the next section, you can reference the work that you have completed by clicking on the Printer Version" button at the top of the page. Doing this will open your saved answers in a new window to help you complete the next section Complete these steps each time you have finished a section. Do not click on the "Submit Answers button until you NET 2. When you are ready to begin the next section, you can reference the work that you have completed by clicking on the Printer Version" button at the top of the page. Doing this will open your saved answers in a new window to help you complete the next section Complete these steps each time you have finished a section. Do not click on the Submit Answers button until you have completed all of the sections Compute the return on assets ratio for 2016. (Round answer to 2 decimal places. Do not use dollars (5) when entering amounts. To see formatted numbers reflected in your final answers, you must enter your answers Return on Assets What does this calculated ratio mean? (Round answer to 2 decimal places. Do not use dollar signs (5) when entering amounts. To see comma-formatted numbers reflected in your final answers, you must enter your answers with Comas) on each dollar in its The Company every period. Before moving onto the next section, please do the following for screen help, click on the hyperlinks below: 1. Scroll to the end of the page and click on the "Save for Laterbutton to save your work 2. When you are ready to begin the next section, you can reference the work that you have completed by clicking on the printer Version" button at the top of the page. Doing this will open your saved answers in a new window to help you complete the next section. Complete these steps each time you have finished a section. Do not click on the submit Answers" button until you have completed all of the sections. Compute the return on common stockholders' equity ratio for 2016. (Round answer to 2 decimal places. Do not use dollar signs (S) when entering amounts. To see comma-formatted numbers reflected in your final answers, you must enter your answers with commas.) Return on common stockholders' equity What does this calculated ratio mean? (Round answer to 2 decimal places. Do not use doar sig () when entering amounts. To se con formatted numbers reflected in your final answers, you must enter your answers with c ) The Company on each dollar Before moving onto the next section, please do the following for screen help, click on the hyperlinks below: 1. Scroll to the end of the page and click on the "Save for later button to save your work 2. When you are ready to begin the next section, you can reference the work that you have completed by clicking on the Printer Version" button at the top of the page. Doing this will open your saved answers in a new window to help CALCULATOR PRINTER VERSION BACK NEXT 2. When you are ready to begin the next section, you can reference the work that you have completed by clicking on the Printer Version" button at the top of the page. Doing this will open your saved answers in a new window to help you complete the next section Complete these steps each time you have finished a section. Do not click on the Submit Answers button until you have completed all of the sections Compute the earnings per share ratio for 2016. (Round answer to 2 decimal places. Do not use delar signs (5) when entering amounts. To see com-formatted numbers reflected in your final answers, you must enter your answers with commas.) Earnings per share What does this calculated ratio mean? (Round answer to 2 decimal places. Do not use dollar signs (S) when entering amounts. To see comma-formatted numbers reflected in your final answers, you must enter your answers with The Company on Before moving onto the next section, please do the following for screen help, click on the hyperlinks below) 1. Scroll to the end of the page and click on the "Save for later button to save your work 2. When you are ready to begin the next section, you can reference the work that you have completed by clicking on the "Printer Version" button at the top of the page. Doing this will open your saved answers in a new window to help you complete the next section. Complete these steps each time you have finished a section. Do not click on the "Submit Answers" button until you have completed all of the sections. Compute the price-earnings ratio for 2016. (Round answer to 2 decimal places. Do not use dollar signs (S) when entering amounts. To see comma-formatted numbers reflected in your final answers, you must enter your answers with commas) Price-earnings ratio What does this calculated ratio mean? (Round answer to 2 decimal places. Do not use dollar signs (5) when entering amounts. To see comma-formatted numbers reflected in your final answers, you must enter your answers with The Company stock times the amount that the company Before moving onto the next section, please do the following for screen hen click on the hyperlinks below: 1. Scroll to the end of the page and click on the "Save for later button to save your work 2. When you are ready to begin the next section, you can reference the work that you have completed by clicking on the Printer Version" button at the top of the page. Doing this will open your saved answers in a new window to help you complete the next section 2. When you are ready to begin the next section, you can reference the work that you have completed by clicking on the Printer Version" button at the top of the page. Doing this will open your saved answers in a new window to help you complete the next section Complete these steps each time you have finished a section. Do not click on the Submit Answers" button until you have completed all of the sections Compute the payout ratio for 2016. (Round answer to 2 decimal places. Do not use dollar signs (S) when entering amounts. To see comma-formatted numbers reflected in your final answers, you must enter your answers with Comas) Payout ratio- What does this calculated ratio mean? (Round answer to 2 decimal places. Do not use dollar signs (S) when entering amounts. To see comma-formatted numbers reflected in your final answers, you must enter your answers with Comas) The Company % of its earnings in form of Before moving onto the next section, please do the following for screen help, click on the hyperlinks below) 1. Scroll to the end of the page and click on the "Save for Later" button to save your work 2. When you are ready to begin the next section, you can reference the work that you have completed by clicking on the Printer Version" button at the top of the page. Doing this will open your saved answers in a new window to help you complete the next section. Complete these steps each time you have finished a section. Do not click on the Submit Answers" button until you have completed all of the sections Compute the debt to total assets ratio for 2016. (Round answer to 2 decimal places. Do not use dollar signs (S) when entering amounts. To see comma-formatted numbers reflected in your final answers, you must enter your answers with commas.) Debt to Total Assets What does this calculated ratio mean? (Round answer to 2 decimal places. Do not use dollar signs (s) when entering amounts. To see comma-formatted numbers reflected in your final answers, you must enter your answers with c ) of the company's was provided by Before moving onto the next section, please do the following for screen hele click on the hyperlinks below: 1. Scroll to the end of the page and click on the same foruter button to save your work 2. When you are ready to begin the next section, you can reference the work that you have completed by clicking on the intervies button at the top of the page. Doing this will open your saved answers in a new window to help you complete the next section Complete these steps each time you have finished a section. Do not click on the Submit Answers button until you Debt to Total Assets - What does this calculated amounts. To se con to mean? (Round answer to 2 decimal places. Do not use design (when entering f ormatted numbers reflected in your final answersyou must enter your answers with of the company's was provided by Before moving onto the next section, please do the following for screen hele click on the hyperlinks below) 1. Scroll to the end of the page and click on the "Save for later button to save your work 2. When you are ready to begin the next section you can reference the work that you have completed by clicking on the Printer Version" button at the top of the page. Doing this will open your saved answers in new window to help you complete the next section. Complete these steps each time you have finished a section. Do not click on the Submit Answers button until you have completed all of the sections. Compute the times interest earned ratio for 2016. (Round answer to 2 decimal places. Do not use dollar signs (S) when entering amounts. To see comma-formatted numbers reflected in your final answers, you must enter your answers with commas) Times interest earned What does this calculated ratio mean? (Round answer to 2 decimal places. Do not use dollar signs (S) when entering amounts. To see comma-formatted numbers reflected in your final answers, you must enter your answers with commas.) The Company can cover its times per year period approximately Before moving onto the next section, please do the following for screen hele click on the hyperlinks below: 1. Scroll to the end of the page and click on the "Save for later button to save your work 2. When you are ready to begin the next section, you can reference the work that you have completed by clicking on the Printer Version" button at the top of the page. Doing this will open your Saved answers in a new window to help you complete the next section s tantil you Complete these steps each time you have finished a section. Do not click on the sub have completed all of the sections Click if you would like to show Work for this questions Open Show Work Question Attempts of 3 used SAVE FOR SUBMIT