The comparative statements of Lucille Company are presented here. - 14845

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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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