The comparative statements of Lucille Company are presented here. LUCILLE COMPANY Income Statements For the Years Ended December 31 2012 2011 Net sales $1,899,175 $1,759,135 Cost of goods sold 1,067,175 1,014,635 Gross profit 832,000 744,500 Selling and administrative expenses 508,635 487,635 Income from operations 323,365 256,865

Problem 13-2A

 

The comparative statements of Lucille Company are presented here.

LUCILLE COMPANY Income Statements For the Years Ended December 31
		2012		2011
Net sales		$1,899,175		$1,759,135
Cost of goods sold		1,067,175		1,014,635
Gross profit		832,000		744,500
Selling and administrative expenses		508,635		487,635
Income from operations		323,365		256,865
Other expenses and losses
Interest expense		23,181		21,181
Income before income taxes		300,184		235,684
Income tax expense		93,181		74,181
Net income		$ 207,003		$ 161,503

 

LUCILLE COMPANY Balance Sheets December 31
Assets		2012		2011
Current assets
Cash		$ 60,100		$ 64,200
Short-term investments		74,000		50,000
Accounts receivable		126,435		111,435
Inventory		127,181		116,681
Total current assets		387,716		342,316
Plant assets (net)		659,726		531,026
Total assets		$1,047,442		$873,342
Liabilities and Stockholders’ Equity
Current liabilities
Accounts payable		$ 168,635		$154,035
Income taxes payable		44,681		43,181
Total current liabilities		213,316		197,216
Bonds payable		230,726		210,726
Total liabilities		444,042		407,942
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		$1,047,442		$873,342

All sales were on account. Net cash provided by operating activities for 2012 was $235,950. Capital expenditures were $136,690, and cash dividends were $59,003.

Compute the following ratios for 2012. (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)		Receivables 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 total assets			%
(l)		Current cash debt coverage			times
(m)		Cash debt coverage			times
(n)		Free cash flow		$

 

 

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