Chapter 15 252 PROBLEM 15-3 ur Inc. declared $250,000 of common stock dividends during 2015. The f Voyageur's common stock on December 31, 2015, is $29.75 Voyageur Instructions: the following Using the da ta for Voyageur Inc. from Problem 15-2, determine ing amounts and ratios for 2015. (Round all ratios to one decimal point.) Calculation Final Result a. Working capital b. Current ratio c. Quick ratio d. Accounts receivable turnover Number of days' sales in receivables e. f. Inventory turnover Number of days' sales in nventory g. Ratio of fixed assets to long-term liabilities h. Ratio of liabilities to stockholders' equity i. Chapter 15 253 Vame Calculation Final Result j. Numberof times interest charges earned Number of times preferred dividends earned k. I. Ratio of net sales to assets m. Rate earned on total assets Rate earned on stockholders' equity n. Rate earned on common stockholders' equity o. Earnings per share on common stock p. q. Price-earnings ratio Dividends per share of common stock r. s. Dividend yield 250 Chapter 15 PROBLEM 15-2 Instructions: Using the information below and on the following page, perform a vertical analysis for Voyageur Inc. by filling in the Percent columns on the statements provided. (Round all percents to one decimal place.) Voyageur Inc. Comparative Balance Sheet December 31, 2015 and 2014 2015 2014 Assets Amount Percent Amount Percent Cash Marketable securities Accounts receivable (net) Inventory Prepaid expenses... Long-term investments Fixed assets (net) Total assets 500,0005 S 425,000 200,000 680,0001 860,000 740,000 T 104,000 450,000 | 4.6 185,000 575,000 | 7.2 95,000 a 410,000 6,556,000 5420,000 a 59.350.000 100% - S7,850,000-- 100% Liabilities $1,090,000$1,050,000 33 1,050,000336 Current liabilities Long-term liabilities Total liabilities | 2.150.000 2.NA 2.050.000 u $3,240,000 $3,100,000040 Stockholders' Equity 350,000 1 350,0004 Preferred 5% stock, $100 par Common stock, $10 par Retained earnings Total stockholders' equity Total liabilities and stockholders' equity 2,550,000 2,550,000 AA 8 3,210,0001850,000)1 5-3 $4,750,000 O.s $9 35000 100% $850.00 00% Chapter 15 251 Voyageur Inc. Income Statement For the Year Ended December 31, 2015 Amount Percent Sales .. | $12,800,000 | 102: to Sales returns and allowances . 300,000 Net sales |$12,500,000 | 100% 7,550,000TO $ 4,950,000o $ 1,550,000 30 Cost of goods sold Gross profit Selling expenses Administrative expenses Total operating expenses Operating income Other income 825,000! C- $ 2,375,000o | $ 2,575,000 125,000 00 2,700,000 1 Co 150,000o Other expense (interest). $2,550,000o 40 937,000 Income taxes 1,613,000 13.40 Net income