Problem 13-02A (Video) The comparative statements of Crane Company are presented here: Crane Company Income Statements...
Fantastic news! We've Found the answer you've been seeking!
Question:
Transcribed Image Text:
Problem 13-02A (Video) The comparative statements of Crane Company are presented here: Crane Company Income Statements For the Years Ended December 31 Net sales Cost of goods sold Gross profit Selling and administrative expenses Income from operations Other expenses and losses Interest expense Income before income taxes Income tax expense Net income 2020 $1,896,140 1,064,140 832,000 505,600 326,400 23,800 302,600 93,800 $208,800 2019 $1,756,100 1,011,600 744,500 484,600 259,900 21,800 238,100 74,800. $163,300 Assets Current assets Cash Debt investments (short-term) Accounts receivable Inventory Total current assets Plant assets (net). Total assets Crane Company Balance Sheets December 31 Liabilities and Stockholders' Equity Current liabilities Accounts payable Income taxes payable Total current liabilities. Bonds payable 2020 $60,100 74,000 123,400 127,800 2019 $64,200 50,000 108,400 117,300 385,300 339,900 659,000 530,300 $1,044,300 $870,200 $165,600 $151,000 45,300 43,800 210,900 194,800 230,000 210,000 440,900 404,800 Total liabilities. Stockholders' equity Common stock ($5 par) Retained earnings Total stockholders' equity Total liabilities and stockholders' equity All sales were on account. Net cash provided by operating activities for 2020 was $236,000. Capital expenditures were $136,000, and cash dividends were $60,800. 290,000 300,000 313,400 165,400 603,400 465,400 $1,044,300 $870,200 Compute the following ratios for 2020. (Round free cash flow to 0 decimal places, e.g. 5,275 and all other answers to 2 decimal places, e.g. 1.83 or 1.83%. Use 365 days for calculation.) (a) Earnings per share (b) Return on common stockholders' equity (c) Return on assets (d) Current ratio (e) Accounts receivable turnover (f) Average collection period. (9) Inventory turnover (h) Days in inventory (0) Times interest earned (i) (k) (0) Asset turnover Debt to assets ratio Free cash flow 5 % % :1 times. days. times days. times times % Click if you would like to Show Work for this question: Open Show Work Problem 13-02A (Video) The comparative statements of Crane Company are presented here: Crane Company Income Statements For the Years Ended December 31 Net sales Cost of goods sold Gross profit Selling and administrative expenses Income from operations Other expenses and losses Interest expense Income before income taxes Income tax expense Net income 2020 $1,896,140 1,064,140 832,000 505,600 326,400 23,800 302,600 93,800 $208,800 2019 $1,756,100 1,011,600 744,500 484,600 259,900 21,800 238,100 74,800. $163,300 Assets Current assets Cash Debt investments (short-term) Accounts receivable Inventory Total current assets Plant assets (net). Total assets Crane Company Balance Sheets December 31 Liabilities and Stockholders' Equity Current liabilities Accounts payable Income taxes payable Total current liabilities. Bonds payable 2020 $60,100 74,000 123,400 127,800 2019 $64,200 50,000 108,400 117,300 385,300 339,900 659,000 530,300 $1,044,300 $870,200 $165,600 $151,000 45,300 43,800 210,900 194,800 230,000 210,000 440,900 404,800 Total liabilities. Stockholders' equity Common stock ($5 par) Retained earnings Total stockholders' equity Total liabilities and stockholders' equity All sales were on account. Net cash provided by operating activities for 2020 was $236,000. Capital expenditures were $136,000, and cash dividends were $60,800. 290,000 300,000 313,400 165,400 603,400 465,400 $1,044,300 $870,200 Compute the following ratios for 2020. (Round free cash flow to 0 decimal places, e.g. 5,275 and all other answers to 2 decimal places, e.g. 1.83 or 1.83%. Use 365 days for calculation.) (a) Earnings per share (b) Return on common stockholders' equity (c) Return on assets (d) Current ratio (e) Accounts receivable turnover (f) Average collection period. (9) Inventory turnover (h) Days in inventory (0) Times interest earned (i) (k) (0) Asset turnover Debt to assets ratio Free cash flow 5 % % :1 times. days. times days. times times % Click if you would like to Show Work for this question: Open Show Work
Expert Answer:
Related Book For
Accounting Tools for Business Decision Making
ISBN: 978-1118128169
5th edition
Authors: Paul D. Kimmel, Jerry J. Weygandt, Donald E. Kieso
Posted Date:
Students also viewed these accounting questions
-
Sales Cost of Goods Sold Gross Profit Selling and Administrative Expenses EBIT Interest Expense Income before Tax Income Statement 2017 Taxes Net Income $ 7,000,000 5,000,000 $ 2,000,000 $ $ $...
-
Presented here is the income statement for Big Surf, Inc., for the month of May: Sales . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ....
-
For the years ended December 31 2019 2018 Revenue $ 567,908 $ 508,201 Operating earnings $ 58,370 $ 46,263 Net earnings $ 24,159 $ 50,943 Basic earnings per common share $ 0.63 $ 1.32 As at December...
-
Let z(k) denote the k-year continuously compounded zero-coupon yield for the current term structure. You are given that z(1) = 0.035, z(2) = 0.041, z(3) = 0.045, z(4) = 0.049, z(5) = 0.051, z(6) =...
-
Brothers Mike and Tim Hargen began operations of their tool and die shop (H & H Tool, Inc.) on January 1, 2014. The annual reporting period ends December 31. The trial balance on January 1, 2015,...
-
Debt Service Fund Trial Balance. Following is Franklin Countys debt service fund pre-closing trial balance for the fiscal year ended June 30, 2011. Required Using information provided by the trial...
-
The test scores for the girls who received their Australian Tertiary Admission Rank (ATAR) are normally distributed. In a recent year, the mean test score for the girls was 66.25 and the standard...
-
The two mooring cables exert forces on the stern of a ship as shown. Represent each force as a Cartesian vector and determine the magnitude and direction of theresultant. F,= 150 lb = 200 lb 50 ft...
-
What are some of the factors that make it difficult for unions to coordinate their efforts across national borders? What is a great personal branding statement for a cyber-security human resources...
-
1.How much gain on derecognition of the corporate housing facility should Snack That, as seller-lessee, recognize as a result of the sale? 2.How much gain on derecognition of the shuttle should Snack...
-
Choose one company from the choices below. Access the most recent 10-K report of the company. Go to SEC.gov, Company Filings, then insert the CIK # below in the Fast Search field. Hershey (CIK #...
-
Kelly's team conducts regression testing on each patch that they release. What key performance measure should they maintain to measure the effectiveness of their testing? Explain
-
Consider the 3 bonds below. All coupon rates are annually compounded. The face value, coupon rate, yield, maturity and market price are given. Based on past market prices, you have calculated the...
-
2. Write a MIPS assembly language program version of the following C code segment: int A[75], B[75]; for (i = 1; i < 73; i ++) { } C[i] = (A[i + 1] + A[i]) (B[1 + 2] * - A[i-1]); You can assume that...
-
Brad wants to engage third-party auditors to assess a vendor that his company will be signing a contract with. If Brad wants to assess the vendor's security policies and controls as well as the...
-
Record adjusting entries for the following information. Merchandise inventory Store supplies 33,600 1,915 975 Office supplies Prepaid insurance 5,255 Equipment 63,490 Accumulated depreciation,...
-
Identify the measure that is NOT part of preventing wrong site, wrong person, wrong procedure surgery. A. Pre-surgical marking is done with permanent ink marking the opposite side with wrong side. B....
-
What are the principal differences among asset liquidity management, liability management, and balanced liquidity management?
-
Bob Royce incorporated Royce Consulting, an accounting practice, on May 1, 2014. During the first month of operations, these events and transactions occurred. May 1 Stockholders invested $100,000...
-
Farwell Company acquired 30% of the outstanding common stock of Ingold Inc. on January 1, 2014, by paying $1,800,000 for 60,000 shares. Ingold declared and paid a $0.50 per share cash dividend on...
-
Natalie Pendlay, the chief financial officer of Mullins Inc., is considering the options available to her for financing the companys new plant. Short-term interest rates right now are 6%, and...
-
The state-space representation is based on a state function \(x\) satisfying the first order ODE \(\tau_{1} \dot{x}=x_{o}\left(\alpha-\tau_{2} \dot{\alpha} ight)-x\), where argument...
-
Obtain the vortex lift line slope, given by Eq. 8.14, for a supersonic delta wing. Eq. 8.14 Ky = -(cos A) ?
-
The delta wing given in Fig. 8.59 has the supersonic lift line slope, according to Puckett and Stewart, as follows \[ \begin{aligned} & \frac{d C_{l}}{d \alpha}=\left(2 \pi \cot \Lambda /...
Study smarter with the SolutionInn App