Acc557 Financial Accounting: P14-6A The comparative statements of Beulah Company are presented below

Acc557 Financial Accounting

Problem 14-6A
The comparative statements of Beulah Company are presented below.
Beulah Company
Income Statement
For the Years Ended December 31
2014 2013
Net sales (all on account) 500,000 420,000
Expenses
Cost of goods sold 315,000 254,000
Selling and administrative 120,800 114,800
Interest expense 7,500 6,500
Income tax expense 20,000 15,000
Total expenses 463,300 390,300
Net income 36,700 29,700

BEULAH COMPANY
Balance Sheets
December 31
Assets 2014 '2013
Current assets
Cash 21,000 18,000
Short-term investments 18,000 15,000
Accounts receivable (net) 85,000 75,000
Inventory 80,000 60,000
Total current assets 204,000 168,000
Plant assets (net) 423,000 383,000
Total assets 627,000 551,000

Liabilities and Stockholders' Equity
Current liabilities
Accounts payable 122,000 110,000
Income taxes payable 12,000 11,000
Total current liabilities 134,000 121,000
Long-term liabilities
Bonds payable 120,000 80,000
Total liabilities 254,000 201,000
Stockholders' equity
Common stock ($5 par) 150,000 150,000
Retained earnings 223,000 200,000
Total stockholders' equity 373,000 350,000
Total liabilities and stockholders equity 627,000 551,000

Additional data:
The common stock recently sold at $19.50per share.

Compute the following ratios for 2014. (Round Earnings per share and Acid-test ratio to 2 decimal places, e.g. 1.65, and all others to 1 decimal place, e.g. 6.8 or 6.8% .)
a. Current Ratio
b. Acid-test Ratio
c. Receivables Turnover
d. Inventory Turnover
e. Profit Margin
f. Asset Turnover
g. Return on Assets
h. Return on Common Stockholders' Equity
i. Earnings per share
j. Price-Earnings Ratio
k. Payout Ratio
l. Debt to Asset Ratio
m. Times Interest Earned
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