Question

Hyrkas Corporation's most recent balance sheet and income statement appear below: Balance Sheet December 31, Year...

Hyrkas Corporation's most recent balance sheet and income statement appear below:

Balance Sheet
December 31, Year 2 and Year 1
(in thousands of dollars)
Year 2 Year 1
Assets
Current assets:
Cash $ 190 $ 270
Accounts receivable, net 300 320
Inventory 270 240
Prepaid expenses 20 20
Total current assets 780 850
Plant and equipment, net 1,000 1,060
Total assets $ 1,780 $ 1,910
Liabilities and Stockholders' Equity
Current liabilities:
Accounts payable $ 240 $ 270
Accrued liabilities 50 50
Notes payable, short term 40 40
Total current liabilities 330 360
Bonds payable 230 360
Total liabilities 560 720
Stockholders’ equity:
Common stock, $2 par value 200 200
Additional paid-in capital 330 330
Retained earnings 690 660
Total stockholders’ equity 1,220 1,190
Total liabilities & stockholders’ equity $ 1,780 $ 1,910
Income Statement
For the Year Ended December 31, Year 2
(in thousands of dollars)
Sales (all on account) $ 1,340
Cost of goods sold 840
Gross margin 500
Selling and administrative expense 415
Net operating income 85
Interest expense 20
Net income before taxes 65
Income taxes (30%) 20
Net income $ 45

Dividends on common stock during Year 2 totaled $15 thousand. The market price of common stock at the end of Year 2 was $16.30 per share.

Required:

Compute the following for Year 2:

a. Gross margin percentage. (Round your answer to 1 decimal place.)

b. Earnings per share. (Round your answer to 2 decimal places.)

c. Price-earnings ratio. (Do not round intermediate calculations. Round your answer to 1 decimal place.)

d. Dividend payout ratio. (Do not round intermediate calculations. Round your "Percentage" answer to 1 decimal place.)

e. Dividend yield ratio. (Round your "Percentage" answer to 2 decimal places.)

f. Return on total assets. (Do not round intermediate calculations. Round your "Percentage" answer to 2 decimal places.)

g. Return on equity. (Round your "Percentage" answer to 2 decimal places.)

h. Book value per share. (Round your answer to 2 decimal places.)

i. Working capital. (Input your answer in thousands of dollars.)

j. Current ratio. (Round your answer to 2 decimal places.)

k. Acid-test (quick) ratio. (Round your answer to 2 decimal places.)

l. Accounts receivable turnover. (Round your answer to 2 decimal places.)

m. Average collection period. (Use 365 days in a year. Do not round intermediate calculations. Round your answer to 1 decimal place.)

n. Inventory turnover. (Round your answer to 2 decimal places.)

o. Average sale period. (Use 365 days in a year. Do not round intermediate calculations. Round your answer to 1 decimal place.)

p. Times interest earned ratio. (Round your answer to 2 decimal places.)

q. Debt-to-equity ratio. (Round your answer to 2 decimal places.)

Homework Answers

Know the answer?
Your Answer:

Post as a guest

Your Name:

What's your source?

Earn Coins

Coins can be redeemed for fabulous gifts.

Not the answer you're looking for?
Ask your own homework help question
Similar Questions
Hyrkas Corporation's most recent balance sheet and income statement appear below Balance Sheet December 31, Year...
Hyrkas Corporation's most recent balance sheet and income statement appear below Balance Sheet December 31, Year 2 and Year 1 (in thousands of dollars) Year 2 Year 1 Assets Current assets: Cash $ 230 $ 350 Accounts receivable, net 380 400 Inventory 350 320 Prepaid expenses 20 20 Total current assets 980 1,090 Plant and equipment, net 1,240 1,380 Total assets $ 2,220 $ 2,470 Liabilities and Stockholders' Equity Current liabilities: Accounts payable $ 320 $ 350 Accrued liabilities 50...
Hyrkas Corporation's most recent balance sheet and income statement appear below: Balance Sheet December 31, Year...
Hyrkas Corporation's most recent balance sheet and income statement appear below: Balance Sheet December 31, Year 2 and Year 1 (in thousands of dollars) Year 2 Year 1 Assets Current assets: Cash $ 185 $ 260 Accounts receivable, net 290 310 Inventory 260 230 Prepaid expenses 20 20 Total current assets 755 820 Plant and equipment, net 970 1,020 Total assets $ 1,725 $ 1,840 Liabilities and Stockholders' Equity Current liabilities: Accounts payable $ 230 $ 260 Accrued liabilities 50...
Hyrkas Corporation's most recent balance sheet and income statement appear below:        Statement of Financial Position...
Hyrkas Corporation's most recent balance sheet and income statement appear below:        Statement of Financial Position December 31, Year 2 and Year 1 (in thousands of dollars) Year 2 Year 1   Asset:   Current assets:   Cash $ 100 $ 110   Accounts receivable 210 220   Inventory 110 100   Prepaid expenses 15 15   Total current assets 435 445   Plant and equipment, net 890 870   Total assets $ 1,325 $ 1,315   Liabilities and stockholders' equity:   Current liabilities:   Accounts payable $ 160 $ 150   Accrued...
Hyrkas Corporation's most recent balance sheet and income statement appear below:        Statement of Financial Position...
Hyrkas Corporation's most recent balance sheet and income statement appear below:        Statement of Financial Position December 31, Year 2 and Year 1 (in thousands of dollars) Year 2 Year 1   Asset:   Current assets:   Cash $ 110 $ 120   Accounts receivable 220 230   Inventory 120 110   Prepaid expenses 15 15   Total current assets 465 475   Plant and equipment, net 904 884   Total assets $ 1,369 $ 1,359   Liabilities and stockholders' equity:   Current liabilities:   Accounts payable $ 170 $ 160   Accrued...
Hyrkas Corporation's most recent balance sheet and income statement appear below:        Statement of Financial Position...
Hyrkas Corporation's most recent balance sheet and income statement appear below:        Statement of Financial Position December 31, Year 2 and Year 1 (in thousands of dollars) Year 2 Year 1   Asset:   Current assets:   Cash $ 100 $ 110   Accounts receivable 210 220   Inventory 110 100   Prepaid expenses 15 15   Total current assets 435 445   Plant and equipment, net 890 870   Total assets $ 1,325 $ 1,315   Liabilities and stockholders' equity:   Current liabilities:   Accounts payable $ 160 $ 150   Accrued...
Balance Sheet December 31, Year 2 and Year 1 (in thousands of dollars) Year 2 Year...
Balance Sheet December 31, Year 2 and Year 1 (in thousands of dollars) Year 2 Year 1 Assets Current assets: Cash $ 205 $ 300 Accounts receivable, net 330 350 Inventory 300 270 Prepaid expenses 20 20 Total current assets 855 940 Plant and equipment, net 1,090 1,180 Total assets $ 1,945 $ 2,120 Liabilities and Stockholders' Equity Current liabilities: Accounts payable $ 270 $ 300 Accrued liabilities 50 50 Notes payable, short term 40 40 Total current liabilities 360...
The financial statements for Castile Products, Inc., are given below: Castile Products, Inc. Balance Sheet December...
The financial statements for Castile Products, Inc., are given below: Castile Products, Inc. Balance Sheet December 31 Assets Current assets: Cash $ 23,000 Accounts receivable, net 170,000 Merchandise inventory 350,000 Prepaid expenses 12,000 Total current assets 555,000 Property and equipment, net 850,000 Total assets $ 1,405,000 Liabilities and Stockholders' Equity Liabilities: Current liabilities $ 250,000 Bonds payable, 10% 390,000 Total liabilities 640,000 Stockholders’ equity: Common stock, $5 per value $ 180,000 Retained earnings 585,000 Total stockholders’ equity 765,000 Total liabilities...
The financial statements for Castile Products, Inc., are given below: Castile Products, Inc. Balance Sheet December...
The financial statements for Castile Products, Inc., are given below: Castile Products, Inc. Balance Sheet December 31 Assets Current assets: Cash $ 24,000 Accounts receivable, net 210,000 Merchandise inventory 310,000 Prepaid expenses 8,000 Total current assets 552,000 Property and equipment, net 910,000 Total assets $ 1,462,000 Liabilities and Stockholders' Equity Liabilities: Current liabilities $ 210,000 Bonds payable, 12% 300,000 Total liabilities 510,000 Stockholders’ equity: Common stock, $10 par value $ 170,000 Retained earnings 782,000 Total stockholders’ equity 952,000 Total liabilities...
Comparative financial statements for Weller Corporation, a merchandising company, for the year ending December 31 appear...
Comparative financial statements for Weller Corporation, a merchandising company, for the year ending December 31 appear below. The company did not issue any new common stock during the year. A total of 910,000 shares of common stock were outstanding. The interest rate on the bonds, which were sold at their face value, was 12%. The income tax rate was 40% and the dividend per share of common stock was $0.40 this year. The market value of the company’s common stock...
The financial statements for Castile Products, Inc., are given below: Castile Products, Inc. Balance Sheet December...
The financial statements for Castile Products, Inc., are given below: Castile Products, Inc. Balance Sheet December 31   Assets         Current assets:            Cash   $21,000      Accounts receivable, net    250,000      Merchandise inventory    370,000      Prepaid expenses    12,000        Total current assets    653,000   Property and equipment, net    820,000        Total assets   $1,473,000        Liabilities and Stockholders' Equity         Liabilities:            Current liabilities   $260,000      Bonds payable, 11%    400,000        Total liabilities    660,000   Stockholders’ equity:            Common stock, $10 par value   $150,000      Retained earnings    663,000        Total stockholders’ equity    813,000        Total liabilities and equity   $1,473,000      Castile Products, Inc. Income Statement For the Year...
ADVERTISEMENT
Need Online Homework Help?

Get Answers For Free
Most questions answered within 1 hours.

Ask a Question
ADVERTISEMENT