Question

In: Accounting

2013 (Thousands of Dollars, Except Earnings per Share) Sales revenue $978,000 Cost of goods sold 648,000...

2013
(Thousands of Dollars,
Except Earnings per Share)
Sales revenue $978,000
Cost of goods sold 648,000
Net income 60,600
Dividends 16,800
Earnings per share 4.04
Packard Plastics, inc.
Balance Sheets
(Thousands of Dollars)
Dec. 31, 2013 Dec. 31, 2012
Assets
Cash $4,920 $2,700
Accounts receivable (net) 80,280 60,900
Inventory 177,600 140,000
Total Current Assets 219,000 203,600
Plant assets (net) 215,000 194,000
Other assets 5,300 3,900
Total Assets $439,300 $401,500
Liabilities and Stockholders' Equity
Notes payable-banks $37,200 $25,000
Accounts payable 33,120 23,000
Accrued liabilities 30,120 24,800
Total Current Liabilities 83,700 72,800
10% Bonds payable 150,000 150,000
Total Liabilities 233,700 222,800
Common stock, $10 par value (12,500,000 shares) 125,000 125,000
Retained earnings 80,600 53,700
Total Stockholders' Equity 205,600 178,700
Total Liabilities and Stockholders' Equity $439,300 $401,500


Required
a. Using the given data, calculate items 1 through 8 below for 2013 for Packard Plastics, Inc.

Round all answers to two decimal places.

Median Ratios for
Manufacturers of Plastic and
Synthetic Products

Ratios for
Packard Plastics
1. Quick ratio: 1.20 Answer
2. Current ratio: 1.90 Answer
3. Accounts Receivable Turnover: 7.90 Answer
4. Inventory turnover: 7.80 Answer
5. Debt-to-equity ratio: 0.95 Answer
6. Gross profit percentage 32.70 % Answer %
7. Return on sales 3.50 % Answer %
8. Return on assets: 6.30 % Answer %


b. Calculate the dividends paid per share of common stock. (Note: Number of shares shown on balance sheet is not shown in thousands. The number of shares "in thousands" is 12,500.)
Round answers to two decimal places.
$Answer



What was the dividend payout ratio?
Answer

%

c. If the most recent price per share of common stock is $49.75, what is the price-earnings ratio?
Round answers to two decimal places.
Answer



The dividend yield?
Answer

%

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