Calculating the Average Total Assets and the Return on
Assets
The income statement, statement of retained...
Calculating the Average Total Assets and the Return on
Assets
The income statement, statement of retained earnings, and
balance sheet for Somerville Company are as follows. Also, assume a
tax rate of 47%.
Somerville Company
Income Statement
For the Year Ended December 31, 20X2
Amount
Percent
Net sales
$8,281,989
100.0%
Less: Cost of goods sold
(5,383,293)
65.0
Gross margin
$2,898,696
35.0
Less: Operating expenses
(1,323,368)
16.0
Operating income
$1,575,328
19.0
Less: Interest expense
(50,000)
0.6
Income before
taxes
$1,525,328
18.4 ...
Oriole
Medical
Comparative Balance Sheet
As of December 31
2016
2015
Assets
Current assets
Cash
$357,000...
Oriole
Medical
Comparative Balance Sheet
As of December 31
2016
2015
Assets
Current assets
Cash
$357,000
$417,400
Accounts receivable, net
1,065,600
776,450
Inventory
729,000
681,050
Other current assets
386,000
247,000
Total current assets
2,537,600
2,121,900
Property, plant, &
equipment, net
8,574,855
8,389,815
Total assets
$11,112,455
$10,511,715
Liabilities and
Stockholders’ Equity
Current liabilities
$3,123,000
$2,846,100
Long-term debt
3,702,650
3,892,700
Total liabilities
6,825,650
6,738,800
Preferred stock, $5 par
value
53,900
53,900
Common stock, $0.25 par
value
195,000
103,850
Retained earnings
4,037,905
3,615,165...
Profitability
Ratios
The following selected
data were taken from the financial statements of Vidahill Inc. for...
Profitability
Ratios
The following selected
data were taken from the financial statements of Vidahill Inc. for
December 31, 20Y7, 20Y6, and 20Y5:
December 31
20Y7
20Y6
20Y5
Total assets
$216,000
$195,000
$174,000
Notes payable (8% interest)
70,000
70,000
70,000
Common stock
28,000
28,000
28,000
Preferred 5% stock, $100 par
14,000
14,000
14,000
(no change during year)
Retained earnings
85,310
60,130
42,000
The 20Y7 net income
was $25,880, and the 20Y6 net income was $18,830. No dividends on
common stock were...
Solve the following problem. Especially Stuck on 11 Asset
Turnover,12 Return on total asset and 13...
Solve the following problem. Especially Stuck on 11 Asset
Turnover,12 Return on total asset and 13 Return on stockholders
equity
Determine the following measures for 20Y2 (round to one decimal
place, including percentages, except for per-share amounts):
1. Working Capital
$
2. Current ratio
3. Quick ratio
4. Accounts receivable turnover
5. Number of days' sales in receivables
6. Inventory turnover
7. Number of days’ sales in inventory
8. Ratio of fixed assets to long-term liabilities
9. Ratio of liabilities...
Exercise 12-10
Your answer is partially correct. Try again.
Oriole Medical manufactures hospital beds and other...
Exercise 12-10
Your answer is partially correct. Try again.
Oriole Medical manufactures hospital beds and other
institutional furniture. The company’s comparative balance sheet
and income statement for 2015 and 2016 follow.
Oriole Medical
Comparative Balance Sheet
As of December 31
2016
2015
Assets
Current assets
Cash
$357,000
$417,400
Accounts receivable, net
1,065,600
776,450
Inventory
729,000
681,050
Other current assets
386,000
247,000
Total current assets
2,537,600
2,121,900
Property, plant, & equipment, net
8,574,855
8,389,815
Total assets
$11,112,455
$10,511,715
Liabilities and Stockholders’...
Average Common Stockholders' Equity, Return on Stockholders'
Equity
Rebert Inc. showed the following balances for last...
Average Common Stockholders' Equity, Return on Stockholders'
Equity
Rebert Inc. showed the following balances for last year:
January 1 December 31
Stockholders' equity:
Preferred stock, $100 par, 8% . $ 4,000,000 $ 4,000,000
Common stock, $3 par 3,000,000 3,000,000
Additional paid-in capital* 4,800,000 4,800,000
Retained earnings 4,000,000 4,250,000
Total stockholders' equity $15,800,000 $16,050,000
* For common stock only.
Rebert's net income for last year was $3,182,000.
Required:
1. Calculate the average common stockholders' equity.
$______
2. Calculate the return on...