ACC 112 Project 1B The below represents the comparative financial statements of Kamla Corporation. Kamla Corporation Comparative Income Statement For the Years Ended December 31,2016 and 2015 2016 2015 Net sales (all on account) $1,238,000 $1,006,000 Expenses: Cost of goods sold $826,000 $706,000 Selling and administrative 208,000 218,000 Interest expense 14,000 12,000 Income tax expense 35,000 23,000 Total expenses $1,083,000 $959,000 Net income $155,000 $47,000 Kamla Corporation Comparative Balance Sheet December 31, 2016 and 2015 Assets 2016 2015 Current assets: Cash $38,000 $37,700 Notes receivable 36,000 28,200 Accounts receivable (net) 171,600 149,600 Inventory 182,000 135,400 Total current assets 427,600 350,900 Property, plant, and equipment (net) 850,000 778,000 Total assets $1,277,600 $1,128,900 Liabilities and Stockholders' Equity Liabilities and Stockholders' Equity Current liabilities: Accounts payable $240,000 $236,000 Notes payable 47,600 42,000 Total current liabilities $287,600 $278,000 Long-term liabilities: Bonds payable 232,000 163,400 Total liabilities $519,600 $441,400 Stockholders' equity: Common stock ($5 par) $300,000 $300,000 Retained earnings 458,000 387,500 Total stockholders' equity 758,000 $687,500 Total liabilities and stockholders equity $1,277,600 $1,128,900 Additional data: 1) The common stock recently sold at $40 per share. 2) The weighted-average common shares outstanding for the two years, 2015 and 2016, was 90,000 shares. Compute the current ratio for 2016. (Round answer to 2 decimal places. Do not use dollar signs ($) when era final answers, you must enter your answers with commas.) Current Ratio What does this calculated ratio mean? (Round answer to 2 decimal places. Do not use dollar signs () when ent final answers, you must enter your answers with commas.) What does this calculated ratio mean? (Round answer to 2 decimal places. Do not use dollar signs ($) when entering amounts. To final answers, you must enter your answers with commas.) the company needs to pay, it has $ to utilize. For every dollar of 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 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 completee LINK TO TEXT Compute the acid-test ratio for 2016. (Round answer to 2 decimal places. Do not use dollar signs ($) when entering amounts. To see final answers, you must enter your answers with commas.) Acid-Test Ratio ($ +$ $ +$ What does this calculated ratio mean? (Round answer to 2 decimal places. Do not use dollar signs ($) when entering amounts. To see com final answers, you must enter your answers with commas.) to utilize. of very the company needs to pay, it has For every dollar of Before moving onto the next section, please do the following (for screen help, click on the hyperlinks below): Compute the receivables turnover ratio for 2016. (Round answer to 2 decimal places. Do not use dollar signs ($) when entering amoun reflected in your final answers, you must enter your answers with commas.) Accounts Receivable Turnover times What does this calculated ratio mean? (Round answer to 2 decimal places. Do not use dollar signs ($) when enteing amounts. To see com final answers, you must enter your answers with commas.) Its times a year/period. an average of The Company Before moving onto the next section, please do the fallow Compute the inventory turnover ratio for 2016. (Round answer to 2 decimal places. Do not use dollar signs in your final answers, you must enter your answers with commas.) Inventory Turnover times What does this calculated ratio mean? (Round answer to 2 decimal places. Do not use dollar signs ($) when en final answers, you must enter your answers with commas.) its times a year/period. an average of The Company 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 cli 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 hot click on the "Submit Answers" button unt LINK Compute the profit margin ratio for 2016. (Round answer to 2 decimal places. Do not use dollar signs ($) whem your final answers, you must enter your answers with commas.) Profit Margin $ CAL The Company % on each dollar of as 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" b 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 untityou have completed all of th LINK TO TEXT Compute the asset turnover ratio for 2016. (Round answer to 2 decimal places. Do not use dollar signs ($) when entering amounts. To see cc your final answers, you must enter your answers with commas.) Asset turnover times What does this calculated ratio mean? (Round answer to 2 decimal places. Do not use dollar signs ($) when entering amounts. To see comma-fo final answers, you must enter your answers with commas.) in its for each dollar it of The Company generates $ Compute the return on assets ratio for 2016. (Round answer to 2 decimal places. Do not use dollar signs ($) when entering amounts. To your final answers, you must enter your answers with commas.) Return on Assets % What does this calculated ratio mean? (Round answer to 2 decimal places. Do not use dollar signs ($) when entering amounts. To see comma- final answers, you must enter your answers with commas.) The Company in its % on each dollar every period. as 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" butte 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 se LINK TO TEXT Compute the return on common stockholders' equity ratio for 2016. (Round answer to 2 decimal places. Do not use dollar signs ($) when entering formatted numbers reflected in your final answers, you must enter your answers with commas.) Return on common stockholders' equity ege What does this calculated ratio mean? (Round answer to 2 decimal places. Do not use dollar signs ($) when entering amounts. To see c final answers, you must enter your answers with commas.) The Company by Its % 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 Versis 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 c LINK O TEXT Compute the earnings per share ratio for 2016. (Round answer to 2 decimal places. Do not use dollar signs ($) when entering amounts. T in your final answers, you must enter your answers with commas.) Earnings per share (EPS) What does this calculated ratio mean? (Round answer to 2 decimal places. Do not use dollar signs ($) when entering amounts. To see comma final answers, you must enter your answers with commas.) of The Company on Compute the price-earnings ratio for 2016. (Round answer to 2 decimal pla ces. Do not use dollar signs ($) when enterim your final answers, you must enter your answers with commas.) Price-earnings ratio= times What does this calculated ratio mean? (Round answer to 2 decimal places. Do not use dollar signs ($) when entering final answers, you must enter your answers with commas.) amur for The Company stock times the amount that the company on each share. 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 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 co LINK TO TEXT Compute the payout ratio for 2016. (Round answer to 2 decimal places. Do not use dollar signs ($) when entering amounts. answers, you must enter your answers with commas.) Payout ratio 4 What does this calculated ratio mean? (Round answer to 2 decimal places. Do not use dollar signs ($) when entering amounts. To final answers, you must enter your answers with commas.) 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 "Printe- 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 complet LINK TO TEXT Compute the debt to total assets ratio for 2016. (Round answer to 2 decimal places. Do not use dollar signs ($) when entering amc in your final answers, you must enter your answers with commas.) Debt to Total Assets What does this calculated ratio mean? (Round answer to 2 decimal places. Do not use dollar signs ($) when entering amounts. To see final answers, you must enter your answers with commas.) % of the company's was provided by Compute the times interest earned ratio for 2016. (Round answer to 2 decimal places. Do not use dollar signs ($) when entering amounts. To see comma reflected in your final answers, you must enter your answers with commas.) Times interest earned times What does this calculated ratio mean? (Round answer to 2 decimal places. Do not use dollar signs ($) when entering amounts. To see comma-formatted num final answers, you must enter your answers with commas.) approximately times per year/period The Company can cover its Before moving onto the next section, please do the following (for screen help, click on the hyperlinks below): 1. 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