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HCS 380 Week 3 WileyPLUS Ex 13-9, Ex 13-13
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HCS 380 Week 3 WileyPLUS Ex 13-9, Ex 13-13

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  • HCS 380 Week 3 Wileyplus Ex 13-9, Ex 13-13.xlsx

This Tutorial contains Excel Sheet which can be used to solve below mentioned Problem for any numbers/values

 

 

 

Complete the assigned exercises in WileyPLUS.

Exercise 13-9

 

Exercise 13-13

 

Exercise 13-9

http://edugen.wiley.com/edugen/art2/common/pixel.gif

 

Your answer is partially correct.

 

 

Kinder Company has these comparative balance sheet data:

KINDER COMPANY
Balance Sheets
December 31

   

2014

 

2013

Cash

 

$ 29,895

 

$ 59,790

Accounts receivable (net)

 

139,510

 

119,580

Inventory

 

119,580

 

99,650

Plant assets (net)

 

398,600

 

358,740

   

$687,585

 

$637,760

Accounts payable

 

$ 99,650

 

$ 119,580

Mortgage payable (15%)

 

199,300

 

199,300

Common stock, $10 par

 

279,020

 

239,160

Retained earnings

 

109,615

 

79,720

   

$687,585

 

$637,760


Additional information for 2014:

1.

 

Net income was $30,600.

2.

 

Sales on account were $377,000. Sales returns and allowances amounted to $26,600.

3.

 

Cost of goods sold was $201,000.

4.

 

Net cash provided by operating activities was $58,500.

5.

 

Capital expenditures were $26,100, and cash dividends were $17,300.


Compute the following ratios at December 31, 2014. 

 

 

Exercise 13-13

http://edugen.wiley.com/edugen/art2/common/pixel.gif

 

Your answer is partially correct.

 

 

The condensed financial statements of Elliott Company for the years 2013 and 2014 are presented below.

ELLIOTT COMPANY
Balance Sheets
December 31 (in thousands)

   

2014

 

2013

Current assets

       

   Cash and cash equivalents

 

$330

 

$360

   Accounts receivable (net)

 

545

 

475

   Inventory

 

640

 

570

   Prepaid expenses

 

130

 

160

     Total current assets

 

1,645

 

1,565

Property, plant, and equipment (net)

 

410

 

380

Investments

 

85

 

85

Intangibles and other assets

 

530

 

510

     Total assets

 

$2,670

 

$2,540

Current liabilities

 

$895

 

$865

Long-term liabilities

 

660

 

560

Stockholders’ equity—common

 

1,115

 

1,115

     Total liabilities and stockholders’ equity

 

$2,670

 

$2,540

 

ELLIOTT COMPANY
Income Statements
For the Year Ended December 31 (in thousands)

   

2014

 

2013

Sales revenue

 

$3,980

 

$3,640

Costs and expenses

       

   Cost of goods sold

 

1,045

 

965

   Selling & administrative expenses

 

2,400

 

2,330

   Interest expense

 

10

 

20

     Total costs and expenses

 

3,455

 

3,315

Income before income taxes

 

525

 

325

Income tax expense

 

210

 

130

Net income

 

$ 315

 

$ 195


Compute the following ratios for 2014 and 2013. (Round all answers to 2 decimal places, e.g. 1.83 or 12.61%.)

(a)

 

Current ratio.

(b)

 

Inventory turnover. (Inventory on December 31, 2012, was $380.)

(c)

 

Profit margin.

(d)

 

Return on assets. (Assets on December 31, 2012, were $1,950.)

(e)

 

Return on common stockholders’ equity. (Equity on December 31, 2012, was $940.)

(f)

 

Debt to assets ratio.

(g)

 

Times interest earned.

 

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