Question

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.).

Answer 1

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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	ekkarill92 Next > < Previous Related Solutions 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 $ 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... 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