In: Accounting
Hyrkas Corporation's most recent balance sheet and income statement appear below: Balance SheetDecember 31, Year 2 and Year 1(in thousands of dollars) Year 2Year 1Assets Current assets: Cash$230 $350 Accounts receivable, net 380 400 Inventory 350 320 Prepaid expenses 20 20 Total current assets 980 1,090 Plant and equipment, net 1,240 1,380 Total assets$2,220 $2,470 Liabilities and Stockholders' Equity Current liabilities: Accounts payable$320 $350 Accrued liabilities 50 50 Notes payable, short term 40 40 Total current liabilities 410 440 Bonds payable 310 540 Total liabilities 720 980 Stockholders’ equity: Common stock, $2 par value 200 200 Additional paid-in capital 330 330 Retained earnings 970 960 Total stockholders’ equity 1,500 1,490 Total liabilities & stockholders’ equity$2,220 $2,470 Income StatementFor the Year Ended December 31, Year 2(in thousands of dollars)Sales (all on account)$1,580 Cost of goods sold 1,010 Gross margin 570 Selling and administrative expense 495 Net operating income 75 Interest expense 20 Net income before taxes 55 Income taxes (30%) 17 Net income$38 Dividends on common stock during Year 2 totaled $28 thousand. The market price of common stock at the end of Year 2 was $8.10 per share. Required:Compute the following for Year 2: a. Gross margin percentage. (Round your answer to 1 decimal place.)b. Earnings per share. (Round your answer to 2 decimal places.)c. Price-earnings ratio. (Do not round intermediate calculations. Round your answer to 1 decimal place.)d. Dividend payout ratio. (Do not round intermediate calculations. Round your "Percentage" answer to 1 decimal place.)e. Dividend yield ratio. (Round your "Percentage" answer to 2 decimal places.)f. Return on total assets. (Do not round intermediate calculations. Round your "Percentage" answer to 2 decimal places.)g. Return on equity. (Round your "Percentage" answer to 2 decimal places.)h. Book value per share. (Round your answer to 2 decimal places.)i. Working capital. (Input your answer in thousands of dollars.)j. Current ratio. (Round your answer to 2 decimal places.)k. Acid-test (quick) ratio. (Round your answer to 2 decimal places.)l. Accounts receivable turnover. (Round your answer to 2 decimal places.)m. Average collection period. (Use 365 days in a year. Do not round intermediate calculations. Round your answer to 1 decimal place.)n. Inventory turnover. (Round your answer to 2 decimal places.)o. Average sale period. (Use 365 days in a year. Do not round intermediate calculations. Round your answer to 1 decimal place.)p. Times interest earned ratio. (Round your answer to 2 decimal places.)q. Debt-to-equity ratio. (Round your answer to 2 decimal places.).
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Hydras Corporation | ||
Income Statement | Year 2 | |
Sales | 1,580.00 | |
Cost of goods sold | 1,010.00 | |
Gross Profit | 570.00 | |
Selling and administrative expense | 495.00 | |
Operating Income | 75.00 | |
Interest Expense | 20.00 | |
Income before income tax | 55.00 | |
Income tax expense | 17.00 | |
Net Income | 38.00 | |
Balance Sheet | ||
Assets | Year 2 | Year 1 |
Cash | 230.00 | 350.00 |
Accounts Receivable (Net) | 380.00 | 400.00 |
Inventory | 350.00 | 320.00 |
Prepaid expenses | 20.00 | 20.00 |
Total Current Assets | 980.00 | 1,090.00 |
Plant and equipment, net | 1,240.00 | 1,380.00 |
Total Assets | 2,220.00 | 2,470.00 |
Liabilities & Stockholders' Equity | ||
Liabilities | ||
Accounts Payable | 320.00 | 350.00 |
Accrued liabilities | 50.00 | 50.00 |
Notes payable, short term | 40.00 | 40.00 |
Current Liabilities | 410.00 | 440.00 |
Bonds Payable | 310.00 | 540.00 |
Long Term Liabilities | 310.00 | 540.00 |
Total Liabilities | 720.00 | 980.00 |
Stockholders' Equity | ||
Common Stock | 200.00 | 200.00 |
Additional paid-in capita | 330.00 | 330.00 |
Retained Earnings | 970.00 | 960.00 |
Total Stockholders' Equity | 1,500.00 | 1,490.00 |
Total Liabilities & Stockholders' Equity | 2,220.00 | 2,470.00 |
Common Stock | 200.00 | |
Par value | 2.00 | |
Number of Common Stock | 100.00 | |
Market Price Per share of Common Stock | 8.10 | |
Dividends on common stock during Year 2 | 28.00 | |
Number of Common Stock | 100.00 | |
Dividends per share | 0.28 | |
Year 2 | Year 1 | |
Total Assets | 2,220.00 | 2,470.00 |
Average Total Assets | 2,345.00 | |
Total Current Assets | 980.00 | |
Less: | ||
Inventory | 350.00 | |
Prepaid expenses | 20.00 | |
Quick Assets | 610.00 | |
Accounts Receivable (Net) | 380.00 | 400.00 |
Average Accounts Receivable (Net) | 390.00 | |
Inventory | 350.00 | 320.00 |
Average Inventory | 335.00 |
Year 2 | |
Ans a- Gross Margin % | |
Gross Profit/ Sales | 36.1% |
Ans b- Earnings Per share | |
Net Income /Number of shares in Common Stock | 0.38 |
Ans c- Price Earnings Ratio | |
Market Price/ Earnings Per share on Common Stock | 21.3 |
Ans d- Dividend Payout ratio | |
Dividends Per share / Earnings Per share | 73.7% |
Ans e- Dividend Yield | |
Dividend Per share on Common Stock/ Market Price | 3.46% |
Ans f- Return on Assets | |
Net Income / Average Total Assets | 1.62% |
Ans g- Return on equity | |
Net Income / Shareholder equity | 2.53% |
Ans h- Book value per share | |
Shareholder equity/ Number of shares in Common Stock | 15.00 |
Ans i- Working capital | |
Current Assets- Current Liabilities | 570.00 |
Ans j- Current Ratio | |
Current Assets/Current Liabilities | 2.39 |
Ans k- Quick Ratio | |
Quick Assets/Current Liabilities |
Related SolutionsHyrkas Corporation's most recent balance sheet and income statement appear below: Balance Sheet December 31, Year...Hyrkas Corporation's most recent balance sheet and income
statement appear below:
Balance Sheet
December 31, Year 2 and Year 1
(in thousands of dollars)
Year 2
Year 1
Assets
Current assets:
Cash
$
220
$
330
Accounts receivable, net
360
380
Inventory
330
300
Prepaid expenses
20
20
Total current assets
930
1,030
Plant and equipment, net
1,180
1,300
Total assets
$
2,110
$
2,330
Liabilities and Stockholders' Equity
Current liabilities:
Accounts payable
$
300
$
330
Accrued liabilities
50...
Hyrkas Corporation's most recent balance sheet and income statement appear below: Balance Sheet December 31, Year...Hyrkas Corporation's most recent balance sheet and income
statement appear below: Balance Sheet December 31, Year 2 and Year
1 (in thousands of dollars) Year 2 Year 1 Assets Current assets:
Cash $ 170 $ 230 Accounts receivable, net 260 280 Inventory 230 200
Prepaid expenses 20 20 Total current assets 680 730 Plant and
equipment, net 880 900 Total assets $ 1,560 $ 1,630 Liabilities and
Stockholders' Equity Current liabilities: Accounts payable $ 200 $
230 Accrued liabilities 50...
Hyrkas Corporation's most recent balance sheet and income statement appear below: Balance Sheet December 31, Year...Hyrkas Corporation's most recent balance sheet and income
statement appear below:
Balance Sheet
December 31, Year 2 and Year 1
(in thousands of dollars)
Year 2
Year 1
Assets
Current assets:
Cash
$
190
$
270
Accounts receivable, net
300
320
Inventory
270
240
Prepaid expenses
20
20
Total current assets
780
850
Plant and equipment, net
1,000
1,060
Total assets
$
1,780
$
1,910
Liabilities and Stockholders' Equity
Current liabilities:
Accounts payable
$
240
$
270
Accrued liabilities
50...
Hyrkas Corporation's most recent balance sheet and income statement appear below: Balance Sheet December 31, Year...Hyrkas Corporation's most recent balance sheet and income
statement appear below: Balance Sheet December 31, Year 2 and Year
1 (in thousands of dollars) Year 2 Year 1 Assets Current assets:
Cash $ 160 $ 210 Accounts receivable, net 240 260 Inventory 210 180
Prepaid expenses 20 20 Total current assets 630 670 Plant and
equipment, net 820 820 Total assets $ 1,450 $ 1,490 Liabilities and
Stockholders' Equity Current liabilities: Accounts payable $ 180 $
210 Accrued liabilities 50...
Hyrkas Corporation's most recent balance sheet and income statement appear below: Balance Sheet December 31, Year...Hyrkas Corporation's most recent balance sheet and income
statement appear below:
Balance Sheet
December 31, Year 2 and Year 1
(in thousands of dollars)
Year 2
Year 1
Assets
Current assets:
Cash
$
180
$
250
Accounts receivable, net
280
300
Inventory
250
220
Prepaid expenses
20
20
Total current assets
730
790
Plant and equipment, net
940
980
Total assets
$
1,670
$
1,770
Liabilities and Stockholders' Equity
Current liabilities:
Accounts payable
$
220
$
250
Accrued liabilities
50...
Hyrkas Corporation's most recent balance sheet and income statement appear below: Balance Sheet December 31, Year...Hyrkas Corporation's most recent balance sheet and income
statement appear below:
Balance Sheet
December 31, Year 2 and Year 1
(in thousands of dollars)
Year 2
Year 1
Assets
Current assets:
Cash
$
180
$
250
Accounts receivable, net
280
300
Inventory
250
220
Prepaid expenses
20
20
Total current assets
730
790
Plant and equipment, net
940
980
Total assets
$
1,670
$
1,770
Liabilities and Stockholders' Equity
Current liabilities:
Accounts payable
$
220
$
250
Accrued liabilities
50...
Hyrkas Corporation's most recent balance sheet and income statement appear below: Balance Sheet December 31, Year...Hyrkas Corporation's most recent balance sheet and income
statement appear below:
Balance Sheet
December 31, Year 2 and Year 1
(in thousands of dollars)
Year 2
Year 1
Assets
Current assets:
Cash
$
180
$
250
Accounts receivable, net
280
300
Inventory
250
220
Prepaid expenses
20
20
Total current assets
730
790
Plant and equipment, net
940
980
Total assets
$
1,670
$
1,770
Liabilities and Stockholders' Equity
Current liabilities:
Accounts payable
$
220
$
250
Accrued liabilities
50...
Hyrkas Corporation's most recent balance sheet and income statement appear below: Balance Sheet December 31, Year...Hyrkas Corporation's most recent balance sheet and income
statement appear below:
Balance Sheet
December 31, Year 2 and Year 1
(in thousands of dollars)
Year 2
Year 1
Assets
Current assets:
Cash
$
180
$
250
Accounts receivable, net
280
300
Inventory
250
220
Prepaid expenses
20
20
Total current assets
730
790
Plant and equipment, net
940
980
Total assets
$
1,670
$
1,770
Liabilities and Stockholders' Equity
Current liabilities:
Accounts payable
$
220
$
250
Accrued liabilities
50...
Hyrkas Corporation's most recent balance sheet and income statement appear below: Statement of Financial Position...
Hyrkas Corporation's most recent balance sheet and income
statement appear below:
Statement of Financial Position
December 31, Year 2 and Year 1
(in thousands of dollars)
Year 2
Year 1
Asset:
Current assets:
Cash
$
100
$
110
Accounts receivable
210
220
Inventory
110
120
Prepaid expenses
10
10
Total current assets
430
460
Plant and equipment, net
900
880
Total assets
$
1,330
$
1,340
Liabilities and stockholders' equity:
Current liabilities:
Accounts payable
$
160
$
170
Accrued...
PLEASE ANSWER E THROUGH Q. Hyrkas Corporation's most recent balance sheet and income statement appear below:...PLEASE ANSWER E THROUGH Q.
Hyrkas Corporation's most recent balance sheet and income
statement appear below:
Balance Sheet
December 31, Year 2 and Year 1
(in thousands of dollars)
Year 2
Year 1
Assets
Current assets:
Cash
$
215
$
320
Accounts receivable, net
350
370
Inventory
320
290
Prepaid expenses
20
20
Total current assets
905
1,000
Plant and equipment, net
1,150
1,260
Total assets
$
2,055
$
2,260
Liabilities
and Stockholders' Equity
Current liabilities:
Accounts payable
$
290...
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