The comparative statements of Osborne Company are presented here.


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The comparative statements of Osborne Company are presented here. OSBORNE COMPANY Income Statements For the Years Ended December 31 2014 2013 Net sales $1,897,794 $1,757,754 Cost of goods sold 1,065,794 1,013,254 Gross profit 832,000 744,500 Selling and administrative expenses 507,254 486,254 Income from operations 324,746 258,246 Other expenses and losses Interest expense 23,816 21,816 Income before income taxes 300,930 236,430 Income tax expense 93,816 74,816 Net income $ 207,114 $ 161,614 OSBORNE COMPANY Balance Sheets December 31 Assets 2014 2013 Current assets Cash $ 60,100 $ 64,200 Debt investments (short-term) 74,000 50,000 Accounts receivable 125,054 110,054 Inventory 127,816 117,316 Total current assets 386,970 341,570 Plant assets (net) 663,530 534,830 Total assets $1,050,500 $876,400 Liabilities and Stockholders’ Equity Current liabilities Accounts payable $ 167,254 $152,654 Income taxes payable 45,316 43,816 Total current liabilities 212,570 196,470 Bonds payable 234,530 214,530 Total liabilities 447,100 411,000 Stockholders’ equity Common stock ($5 par) 290,000 300,000 Retained earnings 313,400 165,400 Total stockholders’ equity 603,400 465,400 Total liabilities and stockholders’ equity $1,050,500 $876,400 All sales were on account. Net cash provided by operating activities for 2014 was $226,700. Capital expenditures were $136,360, and cash dividends were $59,114. Compute the following ratios for 2014.(Round all answers to 2 decimal places, e.g. 1.83 or 12.61%.) (a) Earnings per share $ (b) Return on common stockholders’ equity % (c) Return on assets % (d) Current ratio :1 (e) Accounts receivable 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 assets % (l) Current cash debt coverage times (m) Cash debt coverage times(n)Free cash flow $ Please show the work as well as answers. Thank you! dreamgirl80
posted a question · Feb 07, 2016 at 2:08am

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