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631 words - 3 pages

Chapter 13 Homework

P13-2A |
|

The comparative statements of McGillis Company are presented here.
|
McGILLIS COMPANY |
Income Statements |
-------------------------------------------------
For the Years Ended December 31 |
| -------------------------------------------------
2012 | -------------------------------------------------
2011 |
Net sales | \$1,890,540 | \$1,750,500 |
Cost of goods sold | -------------------------------------------------
1,058,540 | -------------------------------------------------
996,000 |
Gross profit | 832,000 | 754,500 |
Selling and administrative expense | ...view middle of the document...

Net cash provided by operating activities for 2012 was \$220,000. Capital expenditures were \$120,000, and cash dividends were \$80,000. Compute the following ratios for 2012. (Round receivables and inventory turnover to 3 decimal places, e.g. 2.501. Round all other answers to 2 decimal places, e.g. 2.50, except free cash flow. Use rounded amounts for future calculations.)
(a) | Earnings per share. | \$ |
(b) | Return on common stockholders' equity. |   % |
(c) | Return on assets. |   % |
(d) | Current ratio |   : 1 |
(e) | Receivables turnover. |   times |
(f) | Average collection period. |   days |
(g) | Inventory turnover. |   times |
(h) | Days in inventory. |   days |
(i) | Times interest earned. |   times |
(j) | Asset turnover. |   times |
(k) | Debt to total assets. |   % |
(l) | Current cash debt coverage. |   times |
(m) | Cash debt coverage. |   times |
(n) | Free cash flow. | \$ |

P13-3A |
|

|
|   |
Condensed balance sheet and income statement data for Breckenridge Corporation are presented here.
BRECKENRIDGE CORPORATION |
Balance Sheets |
-------------------------------------------------
December 31 |
| 2012 | 2011 | 2010 |
Cash | \$30,000 | \$20,000 | \$18,000 |
Receivables (net) | 50,000 | 45,000 | 48,000 |
Other current assets | 90,000 | 85,000 | 64,000 |
Investments | 55,000 | 70,000 | 45,000 |
Plant and equipment (net) | -------------------------------------------------
500,000 | -------------------------------------------------
370,000 | -------------------------------------------------
258,000 |
| -------------------------------------------------
\$725,000 | -------------------------------------------------
\$590,000 | -------------------------------------------------
\$433,000 |
|   |   |   |
Current liabilities | \$85,000 | \$80,000 | \$30,000 |
Long-term debt | 185,000 | 85,000 | 20,000 |
Common stock, \$10 par |...

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