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All sales were on credit. Net cash provided by operating activities for 2022 was $242,000. Capital expenditures were $128,000, and cash dividends paid were $89,248. Compute the following ratios for 2022. (Round Earnings per share, Current ratio and Asset turnover to 2 decimal places, e.g. 1.65 or 1.65:1, and all other answers to 1 decimal place, e.g. 6.8 or 6.8%. Use 365 days for calculation.)

All sales were on credit. Net cash provided by operating activities for 2022 was $242,000. Capital expenditures were $128,000, and cash dividends paid were $89,248. Compute the following ratios for 2022. (Round Earnings per share, Current ratio and Asset turnover to 2 decimal places, e.g. 1.65 or 1.65:1, and all other answers to 1 decimal place, e.g. 6.8 or 6.8%. Use 365 days for calculation.)

Managerial Accounting: The Cornerstone of Business Decision-Making
Managerial Accounting: The Cornerstone of Business Decision-Making
7th Edition
ISBN:9781337115773
Author:Maryanne M. Mowen, Don R. Hansen, Dan L. Heitger
Publisher:Maryanne M. Mowen, Don R. Hansen, Dan L. Heitger
Chapter15: Financial Statement Analysis
Section: Chapter Questions
Problem 38E: Sundahl Companys income statements for the past 2 years are as follows: Refer to the information for...
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Assets Current assets Cash Debt investments (short-term) Accounts receivable (net) Inventory Total current assets Plant assets (net) Total assets Liabilities and Stockholders' Equity Current liabilities Accounts payable Income taxes payable Total current liabilities Bonita Company Balance Sheets December 31 Bonds payable Total liabilities Stockholders' equity Common stock ($5 par) Retained earnings Total stockholders' equity Total liabilities and stockholders' equity 2022 $59,700 70,500 117,200 123,900 371,300 600,800 $972,100 $159,300 43,500 202,800 220,000 422,800 282,800 266,500 549,300 $972,100 2021 $64,400 50,000 102,200 115,000 331,600 521,900 $853,500 $144,200 41,000 185,200 200,000 385,200 298,600 169,700 468,300 $853,500 All sales were on credit. Net cash provided by operating activities for 2022 was $242,000. Capital expenditures were $128,000, and cash dividends paid were $89,248. Compute the following ratios for 2022. (Round Earnings per share, Current ratio and Asset turnover to 2 decimal places, e.g. 1.65 or 1.65:1, and all other answers to 1 decimal place, e.g. 6.8 or 6.8%. Use 365 days for calculation.)
Transcribed Image Text:Assets Current assets Cash Debt investments (short-term) Accounts receivable (net) Inventory Total current assets Plant assets (net) Total assets Liabilities and Stockholders' Equity Current liabilities Accounts payable Income taxes payable Total current liabilities Bonita Company Balance Sheets December 31 Bonds payable Total liabilities Stockholders' equity Common stock ($5 par) Retained earnings Total stockholders' equity Total liabilities and stockholders' equity 2022 $59,700 70,500 117,200 123,900 371,300 600,800 $972,100 $159,300 43,500 202,800 220,000 422,800 282,800 266,500 549,300 $972,100 2021 $64,400 50,000 102,200 115,000 331,600 521,900 $853,500 $144,200 41,000 185,200 200,000 385,200 298,600 169,700 468,300 $853,500 All sales were on credit. Net cash provided by operating activities for 2022 was $242,000. Capital expenditures were $128,000, and cash dividends paid were $89,248. Compute the following ratios for 2022. (Round Earnings per share, Current ratio and Asset turnover to 2 decimal places, e.g. 1.65 or 1.65:1, and all other answers to 1 decimal place, e.g. 6.8 or 6.8%. Use 365 days for calculation.)
The comparative statements of Bonita Company are presented here. Net sales Bonita Company Income Statements For the Years Ended December 31 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 2022 $1,811,500 1,008,900 802,600 518,600 284,000 17,800 266,200 80,152 $ 186,048 2021 $1,752,200 982,000 770,200 472,800 297,400 13,800 283,600 76,400 $207,200
Transcribed Image Text:The comparative statements of Bonita Company are presented here. Net sales Bonita Company Income Statements For the Years Ended December 31 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 2022 $1,811,500 1,008,900 802,600 518,600 284,000 17,800 266,200 80,152 $ 186,048 2021 $1,752,200 982,000 770,200 472,800 297,400 13,800 283,600 76,400 $207,200
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