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 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 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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