The summary balance sheet and income statement data for Problem 2-6A Blossom Company are as follows. Blossom
Question:
The summary balance sheet and income statement data for Problem 2-6A Blossom Company are as follows.
Blossom Company Balance Sheets 31 December
Assets 2017 and 2016 (respectively)
Found 30,700 $ 22,700 $
Receivables (net) 82,100 74,100
Other current assets 102,100 85,100
Long-term investments 62,000 60,000
Property, plant and equipment (net) 522,100 482,100
Total assets $799,000 724,000
Obligations and equity of shareholders
Current liabilities $77,700 $72,700
Long-term liabilities 92.100 102.100
Common stock 342,100 312,100
Retained earnings 287,100 237,100
Total liabilities and equity $ 799,000 $ 724,000
Blossom Company Income Statements for the Years Ended 31 December 2017 2016
Sales revenue $789,000 $691,000
Cost of goods sold 440,000 400,000
Operating expenses (including income taxes) 240,000 220,000
Net income $109,000 $71,000
Additional Information:
Net cash from operating activities $123,800 $58,700
Cash used for capital expenditures $47,700 $38,000
Dividends paid on common stock $59,000 $17,700
Weighted average number of shares 33,000 30,000
Calculate these values and ratios for 2016 and 2017. (Round Earnings per Share 2 decimal places, eg $2.78 and Current Ratio and Debt-to-asset ratio 1 decimal place eg 15.2. Enter negative amounts using a minus sign before the number, eg -45 or parentheses, for example (45).) 2017 2016
2016 & 2017
(a) Earnings per share.
(b) Working capital.
(c) Current ratio.
(d) Debt-to-asset ratio.
(e) Free cash flow.
Accounting Principles
ISBN: 978-1119048473
7th Canadian Edition Volume 2
Authors: Jerry J. Weygandt, Donald E. Kieso, Paul D. Kimmel, Barbara Trenholm, Valerie Warren, Lori Novak