Question

The comparative statements of Crane Company are presented here.

CRANE COMPANY Income Statements For the Years Ended December 31
		2022		2021
Net sales		$2,363,400		$2,205,000
Cost of goods sold		1,307,000		1,287,680
Gross profit		1,056,400		917,320
Selling and administrative expenses		640,000		613,120
Income from operations		416,400		304,200
Other expenses and losses
Interest expense		28,160		25,600
Income before income taxes		388,240		278,600
Income tax expense		116,472		83,580
Net income		$ 271,768		$ 195,020

CRANE COMPANY Balance Sheets December 31
Assets		2022		2021
Current assets
Cash		$ 76,928		$ 82,176
Debt investments (short-term)		94,720		64,000
Accounts receivable		150,784		131,584
Inventory		161,280		147,840
Total current assets		483,712		425,600
Plant assets (net)		830,720		665,984
Total assets		$1,314,432		$1,091,584
Liabilities and Stockholders’ Equity
Current liabilities
Accounts payable		$ 204,800		$186,112
Income taxes payable		55,680		53,760
Total current liabilities		260,480		239,872
Bonds payable		281,600		256,000
Total liabilities		542,080		495,872
Stockholders’ equity
Common stock ($5 par)		371,200		384,000
Retained earnings		401,152		211,712
Total stockholders’ equity		772,352		595,712
Total liabilities and stockholders’ equity		$1,314,432		$1,091,584

All sales were on account. Net cash provided by operating activities for 2022 was $281,600. Capital expenditures were $174,080, and cash dividends were $82,328.

Compute the following ratios for 2022. (Round all answers to 2 decimal places, e.g. 1.83 or 1.83%.)

(a)		Earnings per share		$enter earnings per share in dollars
(b)		Return on common stockholders’ equity		enter return on common stockholders’ equity in percentages	%
(c)		Return on assets		enter return on assets in percentages	%
(d)		Current ratio		enter current ratio	:1
(e)		Accounts receivable turnover		enter accounts receivable turnover in times	times
(f)		Average collection period		enter average collection period in days	days
(g)		Inventory turnover		enter inventory turnover in times	times
(h)		Days in inventory		enter days in inventory	days
(i)		Times interest earned		enter times interest earned	times
(j)		Asset turnover		enter asset turnover in times	times
(k)		Debt to assets ratio		enter debt to assets ratio in percentages	%
(l)		Free cash flow		$enter free cash flow in dollars

Answer 1