Kinder Company has these comparative balance sheet data:
KINDER COMPANY
Balance Sheets
December 31 |
| 2014 |
2013 |
| Cash |
mce_markernbsp;34,290 |
mce_markernbsp;68,580 |
| Accounts receivable (net) |
160,020 |
137,160 |
| Inventory |
137,160 |
114,300 |
| Plant assets (net) |
457,200 |
411,480 |
| $788,670 |
$731,520 |
| Accounts payable |
mce_markernbsp;114,300 |
mce_markernbsp;137,160 |
| Mortgage payable (15%) |
228,600 |
228,600 |
| Common stock, $10 par |
320,040 |
274,320 |
| Retained earnings |
125,730 |
91,440 |
| $788,670 |
$731,520 |
Additional information for 2014:
| 1. |
Net income was $28,200. |
| 2. |
Sales on account were $393,000. Sales returns and allowances amounted to $29,500. |
| 3. |
Cost of goods sold was $229,000. |
| 4. |
Net cash provided by operating activities was $59,500. |
| 5. |
Capital expenditures were $29,000, and cash dividends were $17,700. |
Compute the following ratios at December 31, 2014. (Round all answers to 2 decimal places, e.g. 1.83.)