The comparative statements of beulah company are presented below.

Problem 14-6A The comparative statements of Beulah Company are presented below.

 

BEULAH COMPANY
Income Statement
For the Years Ended December 31

   

2014

 

2013

Net sales (all on account)

 

$500,000

 

$420,000

Expenses

       

    Cost of goods sold

 

315,000

 

254,000

    Selling and administrative

 

120,800

 

114,800

    Interest expense

 

7,500

 

6,500

    Income tax expense

 

20,000

 

15,000

      Total expenses

 

463,300

 

390,300

Net income

 

$ 36,700

 

$ 29,700

 

BEULAH COMPANY
Balance Sheets
December 31

Assets

 

2014

 

2013

Current assets

       

    Cash

 

$ 21,000

 

$ 18,000

    Short-term investments

 

18,000

 

15,000

    Accounts receivable (net)

 

85,000

 

75,000

    Inventory

 

80,000

 

60,000

      Total current assets

 

204,000

 

168,000

Plant assets (net)

 

423,000

 

383,000

Total assets

 

$627,000

 

$551,000

Liabilities and Stockholders’ Equity

       

Current liabilities

       

    Accounts payable

 

$122,000

 

$110,000

    Income taxes payable

 

12,000

 

11,000

      Total current liabilities

 

134,000

 

121,000

Long-term liabilities

       

    Bonds payable

 

120,000

 

80,000

      Total liabilities

 

254,000

 

201,000

Stockholders’ equity

       

    Common stock ($5 par)

 

150,000

 

150,000

    Retained earnings

 

223,000

 

200,000

      Total stockholders’ equity

 

373,000

 

350,000

Total liabilities and stockholders’ equity

 

$627,000

 

$551,000

 

Additional data:

The common stock recently sold at $19.50 per share.

 

Compute the following ratios for 2014. (Round Earnings per share and Acid-test ratio to 2 decimal places, e.g. 1.65, and all others to 1 decimal place, e.g. 6.8 or 6.8% .)

(a)

Current ratio

 :1

(b)

Acid-test ratio

 :1

(c)

Accounts receivable turnover

 times

(d)

Inventory turnover

 times

(e)

Profit margin

 %

(f)

Asset turnover

 times

(g)

Return on assets

 %

(h)

Return on common stockholders’ equity

 %

(i)

Earnings per share

 

(j)

Price-earnings ratio

 times

(k)

Payout ratio

 %

(l)

Debt to total assets

 %

(m)

Times interest earned

 times

 

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