Sales revenue... Cost of goods sold. Net income....... Dividends. Earnings per share. 2016 (Thousands of Dollars,...

  

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Sales revenue... Cost of goods sold. Net income....... Dividends. Earnings per share. 2016 (Thousands of Dollars, except Earnings per Share) $210,000 125,000 8,300 2,600 4.15 (Thousands of Dollars) HI-TECH INSTRUMENTS, INC. Balance Sheets Dec. 31, 2016 Dec. 31, 2015 Assets Cash.... Accounts receivable (net).. Inventory.. $ 18,300 46,000 $ 18,000 41,000 39,500 43,700 Total Current Assets.. Plant assets (net) Other assets.... Total Assets 103,800 102,700 52,600 50,500 15,600 13,800 $172,000 $167,000 Liabilities and Stockholders' Equity Notes payable-banks. $ 6,000 $ 6,000 22,500 18,700 Accounts payable... 16,500 21,000 Accrued liabilities. 45,000 45,700 Total Current Liabilities.. 40,000 40,000 9% Bonds payable... 85,000 85,700 Total Liabilities Common stock, $25 par value (2,000,000 shares). 50,000 50,000 37,000 31,300 Retained earnings 87,000 81,300 Total Stockholders' Equity.. $172,000 $167,000 Total Liabilities and Stockholders' Equity Quick ratio Current ratio. Accounts receivable turnover.. Inventory turnover Debt-to-equity ratio Industry Average Ratios for Competitors. 1.3 2.4 5.9 times 3.5 times 0.73 42.8 percent LO4 LO4 LO4 LO4 LO4 LO4 LO4 LO4 Gross profit percentage. Return on sales Return on assets 4.5 percent 7.6 percent SE13-1. Quick Ratio Calculate the company's quick ratio for 2016 and compare the result to the industry average. SE13-2. Current Ratio Calculate the company's current ratio for 2016 and compare the result to the indus- try average. SE13-3. Accounts Receivable Turnover Calculate the company's accounts receivable turnover for 2016 and compare the result to the industry average. SE13-4. Inventory Turnover Calculate the company's inventory turnover for 2016 and compare the result to the industry average. SE13-5. Debit-to-Equity Ratio Calculate the company's 2016 debt-to-equity ratio and compare the result to the industry average. SE13-6. Gross Profit Percentage Calculate the company's 2016 gross profit percentage and compare the result to the industry average. SE13-7. Return on Sales Calculate the company's return on sales for 2016 and compare the result to the industry average. SE13-8. Return on Assets Calculate the company's return on assets for 2016 and compare the result to the industry average. LO4 SE13-9 Dividends per Share Calculate the company's dividend paid per share of common stock. What was the dividend payout ratio? LO4 10 SE13-19. Earnings per Share If the company's most recent price per share of common stock is $62.25, what is the company's price-earnings ratio and dividend yield? SE12 11 Sales revenue... Cost of goods sold. Net income....... Dividends. Earnings per share. 2016 (Thousands of Dollars, except Earnings per Share) $210,000 125,000 8,300 2,600 4.15 (Thousands of Dollars) HI-TECH INSTRUMENTS, INC. Balance Sheets Dec. 31, 2016 Dec. 31, 2015 Assets Cash.... Accounts receivable (net).. Inventory.. $ 18,300 46,000 $ 18,000 41,000 39,500 43,700 Total Current Assets.. Plant assets (net) Other assets.... Total Assets 103,800 102,700 52,600 50,500 15,600 13,800 $172,000 $167,000 Liabilities and Stockholders' Equity Notes payable-banks. $ 6,000 $ 6,000 22,500 18,700 Accounts payable... 16,500 21,000 Accrued liabilities. 45,000 45,700 Total Current Liabilities.. 40,000 40,000 9% Bonds payable... 85,000 85,700 Total Liabilities Common stock, $25 par value (2,000,000 shares). 50,000 50,000 37,000 31,300 Retained earnings 87,000 81,300 Total Stockholders' Equity.. $172,000 $167,000 Total Liabilities and Stockholders' Equity Quick ratio Current ratio. Accounts receivable turnover.. Inventory turnover Debt-to-equity ratio Industry Average Ratios for Competitors. 1.3 2.4 5.9 times 3.5 times 0.73 42.8 percent LO4 LO4 LO4 LO4 LO4 LO4 LO4 LO4 Gross profit percentage. Return on sales Return on assets 4.5 percent 7.6 percent SE13-1. Quick Ratio Calculate the company's quick ratio for 2016 and compare the result to the industry average. SE13-2. Current Ratio Calculate the company's current ratio for 2016 and compare the result to the indus- try average. SE13-3. Accounts Receivable Turnover Calculate the company's accounts receivable turnover for 2016 and compare the result to the industry average. SE13-4. Inventory Turnover Calculate the company's inventory turnover for 2016 and compare the result to the industry average. SE13-5. Debit-to-Equity Ratio Calculate the company's 2016 debt-to-equity ratio and compare the result to the industry average. SE13-6. Gross Profit Percentage Calculate the company's 2016 gross profit percentage and compare the result to the industry average. SE13-7. Return on Sales Calculate the company's return on sales for 2016 and compare the result to the industry average. SE13-8. Return on Assets Calculate the company's return on assets for 2016 and compare the result to the industry average. LO4 SE13-9 Dividends per Share Calculate the company's dividend paid per share of common stock. What was the dividend payout ratio? LO4 10 SE13-19. Earnings per Share If the company's most recent price per share of common stock is $62.25, what is the company's price-earnings ratio and dividend yield? SE12 11