The comparative statements of Osborne Company are presented here.
OSBORNE COMPANY
Income Statements
For the Years Ended December 31
2014
2013
Net sales
$1,895,399
$1,755,359
Cost of goods sold
1,063,399
1,010,859
Gross profit
832,000
744,500
Selling and administrative expenses
504,859
483,859
Income from operations
327,141
260,641
Other expenses and losses
Interest expense
23,405
21,405
Income before income taxes
303,736
239,236
Income tax expense
93,405
74,405
Net income
$ 210,331
$ 164,831
OSBORNE COMPANY
Balance Sheets
December 31
Assets
2014
2013
Current assets
Cash
$ 60,100
$ 64,200
Debt investments (short-term)
74,000
50,000
Accounts receivable
122,659
107,659
Inventory
127,405
116,905
Total current assets
384,164
338,764
Plant assets (net)
661,148
532,448
Total assets
$1,045,312
$871,212
Liabilities and Stockholders' Equity
Current liabilities
Accounts payable
$ 164,859
$150,259
Income taxes payable
44,905
43,405
Total current liabilities
209,764
193,664
Bonds payable
232,148
212,148
Total liabilities
441,912
405,812
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
$1,045,312
$871,212
All sales were on account. Net cash provided by operating activities for 2014 was $240,140. Capital expenditures were $135,800, and cash dividends were $62,331.
Compute the following ratios for 2014. (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) Accounts receivable 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 assets
%
(l) Current cash debt coverage
times
(m) Cash debt coverage
times
(n) Free cash flow
$