Question
In: Accounting
Condensed balance sheet and income statement data for Pina Corporation are presented here. PINA CORPORATION Balance...
Condensed balance sheet and income statement data for Pina
Corporation are presented here.
|
PINA CORPORATION |
||||||
|---|---|---|---|---|---|---|
|
2022 |
2021 |
2020 |
||||
|
Cash |
$ 32,000 |
$ 22,000 |
$ 20,000 |
|||
|
Accounts receivable (net) |
52,000 |
47,000 |
50,000 |
|||
|
Other current assets |
97,000 |
102,000 |
71,000 |
|||
|
Investments |
62,000 |
77,000 |
52,000 |
|||
|
Plant and equipment (net) |
500,000 |
370,000 |
358,000 |
|||
|
$743,000 |
$618,000 |
$551,000 |
||||
|
Current liabilities |
$ 87,000 |
$ 82,000 |
$ 72,000 |
|||
|
Long-term debt |
152,000 |
92,000 |
57,000 |
|||
|
Common stock, $10 par |
327,000 |
317,000 |
307,000 |
|||
|
Retained earnings |
177,000 |
127,000 |
115,000 |
|||
|
$743,000 |
$618,000 |
$551,000 |
||||
|
PINA CORPORATION |
||||
|---|---|---|---|---|
|
2022 |
2021 |
|||
|
Sales revenue |
$747,000 |
$607,000 |
||
|
Less: Sales returns and allowances |
42,000 |
32,000 |
||
|
Net sales |
705,000 |
575,000 |
||
|
Cost of goods sold |
432,000 |
357,000 |
||
|
Gross profit |
273,000 |
218,000 |
||
|
Operating expenses (including income taxes) |
182,000 |
152,000 |
||
|
Net income |
$ 91,000 |
$ 66,000 |
||
Additional information:
| 1. | The market price of Pina’s common stock was $7.00, $7.50, and $8.50 for 2020, 2021, and 2022, respectively. | |
| 2. | You must compute dividends paid. All dividends were paid in cash. |
Compute the following ratios for 2021 and 2022.
|
2022 |
2021 |
|||||||
|---|---|---|---|---|---|---|---|---|
|
Profit margin |
enter percentages |
% |
enter percentages |
% | (Round answers to 1 decimal place, e.g. 1.5%.) | |||
|
Gross profit rate |
enter percentages |
% |
enter percentages |
% | (Round answers to 1 decimal place, e.g. 1.5%.) | |||
|
Asset turnover |
enter asset turnover in times |
times |
enter asset turnover in times |
times | (Round answers to 2 decimal places, e.g. 1.83.) | |||
|
Earnings per share |
$enter earnings per share in dollars |
$enter earnings per share in dollars |
(Round answers to 2 decimal places, e.g. 1.83.) | |||||
|
Price-earnings ratio |
enter price-earnings ratio in times |
times |
enter price-earnings ratio in times |
times | (Round answers to 1 decimal place, e.g. 1.5.) | |||
|
Payout ratio |
enter percentages |
% |
enter percentages |
% | (Round answers to 0 decimal places, e.g. 15%.) | |||
|
Debt to assets ratio |
enter percentages |
% |
enter percentages |
% | (Round answers to 0 decimal places, e.g. 15%.) | |||
Solutions
ekkarill92 answered 2 years agoRelated Solutions
Condensed balance sheet and income statement data for Jergan Corporation are presented here. Jergan Corporation Balance...
Condensed balance sheet and income statement data for Jergan
Corporation are presented here.
Jergan Corporation
Balance Sheets
December 31
2020
2019
2018
Cash
$ 30,600
$ 17,300
$ 17,300
Accounts receivable
(net)
50,900
44,500
48,600
Other current assets
90,100
94,800
64,900
Investments
54,700
70,600
44,600
Plant and equipment
(net)
500,600
370,000
358,700
$726,900
$597,200
$534,100
Current liabilities
$85,600
$79,000
$70,700
Long-term debt
144,200
85,000
50,900
Common stock, $10 par
384,000
319,000
308,000
Retained earnings
113,100
114,200
104,500
$726,900
$597,200
$534,100...
Condensed balance sheet and income statement data for Jergan Corporation are presented here. Jergan Corporation Balance...
Condensed balance sheet and income statement data for Jergan
Corporation are presented here.
Jergan Corporation
Balance Sheets
December 31
2020
2019
2018
Cash
$ 30,000
$ 16,600
$ 18,700
Accounts receivable
(net)
49,900
44,600
47,400
Other current assets
90,800
94,500
64,100
Investments
55,400
69,800
44,600
Plant and equipment
(net)
500,100
370,700
357,700
$726,200
$596,200
$532,500
Current liabilities
$84,500
$79,200
$69,800
Long-term debt
144,900
84,800
50,500
Common stock, $10 par
369,000
312,000
315,000
Retained earnings
127,800
120,200
97,200
$726,200
$596,200
$532,500...
Condensed balance sheet and income statement data for Riverbed Corporation are presented here. RIVERBED CORPORATION Balance...
Condensed balance sheet and income statement data for Riverbed
Corporation are presented here.
RIVERBED CORPORATION
Balance Sheets
December 31
2022
2021
2020
Cash
$ 33,000
$ 23,000
$ 21,000
Accounts receivable (net)
53,000
48,000
51,000
Other current assets
95,000
100,000
69,000
Investments
60,000
75,000
50,000
Plant and equipment (net)
500,000
370,000
358,000
$741,000
$616,000
$549,000
Current liabilities
$ 88,000
$ 83,000
$ 73,000
Long-term debt
150,000
90,000
55,000
Common stock, $10 par
325,000
315,000
305,000
Retained earnings
178,000
128,000
116,000...
Problem 14-3A a Condensed balance sheet and income statement data for Jergan Corporation are presented here....
Problem 14-3A a
Condensed balance sheet and income statement data for Jergan
Corporation are presented here.
Jergan Corporation
Balance Sheets
December 31
2020
2019
2018
Cash
$ 30,500
$ 17,800
$ 17,700
Accounts receivable (net)
50,400
45,200
48,800
Other current assets
89,300
96,000
65,000
Investments
55,400
70,000
45,800
Plant and equipment (net)
499,100
369,200
358,400
$724,700
$598,200
$535,700
Current liabilities
$85,200
$79,300
$70,600
Long-term debt
145,300
84,500
50,700
Common stock, $10 par
330,000
316,000
310,000
Retained earnings
164,200
118,400
104,400...
Current Attempt in Progress Condensed balance sheet and income statement data for Riverbed Corporation are presented...
Current Attempt in Progress
Condensed balance sheet and income statement data for Riverbed
Corporation are presented here.
RIVERBED CORPORATION
Balance Sheets
December 31
2022
2021
2020
Cash
$ 33,000
$ 23,000
$ 21,000
Accounts receivable (net)
53,000
48,000
51,000
Other current assets
95,000
100,000
69,000
Investments
60,000
75,000
50,000
Plant and equipment (net)
500,000
370,000
358,000
$741,000
$616,000
$549,000
Current liabilities
$ 88,000
$ 83,000
$ 73,000
Long-term debt
150,000
90,000
55,000
Common stock, $10 par
325,000
315,000
305,000
Retained...
Condensed balance sheet and income statement data for Swifty Corporation appear below: SWIFTY CORPORATION Balance Sheet...
Condensed balance sheet and income statement data for Swifty
Corporation appear below:
SWIFTY CORPORATION
Balance Sheet
December 31
2021
2020
2019
Cash
$ 27,500
$ 23,500
$ 18,500
Accounts receivable
50,500
50,000
48,500
Other current assets
94,500
95,500
65,000
Property, plant, and equipment (net)
530,000
471,500
401,000
$702,500
$640,500
$533,000
Current liabilities
$ 71,500
$ 77,500
$ 70,000
Long-term debt
77,500
84,500
46,500
Common shares
318,000
280,000
287,000
Retained earnings
235,500
198,500
129,500
$702,500
$640,500
$533,000
SWIFTY CORPORATION
Income Statement...
Condensed balance sheet and income statement data for Landwehr Corporation appear below.
Condensed balance sheet and income statement data for Landwehr Corporation appear below.
Additional information:
1. The market price of Landwehr’s common stock was $4.00, $5.00, and $8.00 for 2016, 2017, and 2018, respectively.
2. All dividends were paid in cash.
Instructions
(a) Compute the following ratios for 2017 and 2018.
(1) Profit margin.
(2) Asset turnover.
(3) Earnings per share. (Weighted-average common shares in 2018 were 32,000 and in 2017 were 31,000.)
(4) Price-earnings ratio.
(5) Payout ratio....
Condensed balance sheet and income statement data for Landwehr Corporation appear below. LANDWEHR CORPORATION Balance Sheets...
Condensed balance sheet and income statement data for Landwehr
Corporation appear below.
LANDWEHR CORPORATION
Balance Sheets
December 31
2018
2017
2016
Cash
$ 25,000
$ 20,000
$ 18,000
Accounts receivable (net)
50,000
45,000
48,000
Other current assets
90,000
95,000
64,000
Investments
75,000
70,000
45,000
Plant and equipment (net)
400,000
370,000
358,000
Total Assets
$640,000
$600,000
$533,000
Current liabilities
$ 75,000
$ 80,000
$ 70,000
Long-term debt
80,000
85,000
50,000
Common stock, $10 par
340,000
310,000
300,000
Retained earnings
145,000
125,000...
Problem 2-6A Condensed balance sheet and income statement data for Blossom Company are presented as follows....
Problem 2-6A Condensed balance sheet and income statement data
for Blossom Company are presented as follows.
Blossom Company Balance Sheets December 31
Assets 2017 and 2016 (respectively)
Cash $ 30,700 $ 22,700
Receivables (net) 82,100 74,100
Other current assets 102,100 85,100
Long-term investments 62,000 60,000
Property, plant, and equipment (net) 522,100 482,100
Total assets $ 799,000 724,000
Liabilities and Stockholders’ Equity
Current liabilities $ 77,700 $ 72,700
Long-term liabilities 92,100 102,100
Common stock 342,100 312,100
Retained earnings 287,100 237,100
Total...
Problem 18-3A Condensed balance sheet and income statement data for Landwehr Corporation appear below. LANDWEHR CORPORATION...
Problem 18-3A
Condensed balance sheet and income statement data for Landwehr
Corporation appear below.
LANDWEHR CORPORATION
Balance Sheets
December 31
2018
2017
2016
Cash
$ 25,800
$ 17,600
$ 18,700
Accounts receivable (net)
50,500
44,200
47,100
Other current assets
89,600
94,900
63,900
Investments
75,300
71,000
45,100
Plant and equipment (net)
400,500
370,000
358,500
$641,700
$597,700
$533,300
Current liabilities
$75,500
$79,800
$69,400
Long-term debt
79,300
84,100
50,300
Common stock, $10 par
368,000
316,000
304,000
Retained earnings
118,900
117,800
109,600
$641,700
$597,700...
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