This Tutorial contains Excel Sheet which can be used to solve below mentioned Problem for any numbers\/values\t\u00a0\t\u00a0\tComplete\u00a0the assigned exercises in WileyPLUS.\tExercise 13-9\tExercise 13-13\t\u00a0\tExercise 13-9\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\u00a0\t\t\t\t\t\t\t\t\t\t\t\t\t\t\tYour answer is partially correct.\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\u00a0\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\u00a0\t\t\t\t\t\t\tKinder Company has these comparative balance sheet data:\t\t\t\t\t\t\t\t\t\t\t\t\t\t\tKINDER COMPANY\t\t\t\t\tBalance Sheets\t\t\t\t\tDecember 31\t\t\t\t\t\t\t\t\t\t\t\t\t\t\u00a0\t\t\t\t\t\t\t\u00a0\t\t\t\t\t\t\t\t\t\t\t\t2014\t\t\t\t\t\t\t\t\t\t\u00a0\t\t\t\t\t\t\t\t\t\t\t\t2013\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\tCash\t\t\t\t\t\t\t\t\t\t\u00a0\t\t\t\t\t\t\t\t\t\t\t\t$\u00a029,895\t\t\t\t\t\t\t\t\t\t\u00a0\t\t\t\t\t\t\t\t\t\t\t\t$\u00a059,790\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\tAccounts receivable (net)\t\t\t\t\t\t\t\t\t\t\u00a0\t\t\t\t\t\t\t\t\t\t\t\t139,510\t\t\t\t\t\t\t\t\t\t\u00a0\t\t\t\t\t\t\t\t\t\t\t\t119,580\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\tInventory\t\t\t\t\t\t\t\t\t\t\u00a0\t\t\t\t\t\t\t\t\t\t\t\t119,580\t\t\t\t\t\t\t\t\t\t\u00a0\t\t\t\t\t\t\t\t\t\t\t\t99,650\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\tPlant assets (net)\t\t\t\t\t\t\t\t\t\t\u00a0\t\t\t\t\t\t\t\t\t\t\t\t398,600\t\t\t\t\t\t\t\t\t\t\u00a0\t\t\t\t\t\t\t\t\t\t\t\t358,740\t\t\t\t\t\t\t\t\t\t\t\t\t\t\u00a0\t\t\t\t\t\t\t\u00a0\t\t\t\t\t\t\t\t\t\t\t\t$687,585\t\t\t\t\t\t\t\t\t\t\u00a0\t\t\t\t\t\t\t\t\t\t\t\t$637,760\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\tAccounts payable\t\t\t\t\t\t\t\t\t\t\u00a0\t\t\t\t\t\t\t\t\t\t\t\t$\u00a099,650\t\t\t\t\t\t\t\t\t\t\u00a0\t\t\t\t\t\t\t\t\t\t\t\t$\u00a0119,580\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\tMortgage payable (15%)\t\t\t\t\t\t\t\t\t\t\u00a0\t\t\t\t\t\t\t\t\t\t\t\t199,300\t\t\t\t\t\t\t\t\t\t\u00a0\t\t\t\t\t\t\t\t\t\t\t\t199,300\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\tCommon stock, $10 par\t\t\t\t\t\t\t\t\t\t\u00a0\t\t\t\t\t\t\t\t\t\t\t\t279,020\t\t\t\t\t\t\t\t\t\t\u00a0\t\t\t\t\t\t\t\t\t\t\t\t239,160\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\tRetained earnings\t\t\t\t\t\t\t\t\t\t\u00a0\t\t\t\t\t\t\t\t\t\t\t\t109,615\t\t\t\t\t\t\t\t\t\t\u00a0\t\t\t\t\t\t\t\t\t\t\t\t79,720\t\t\t\t\t\t\t\t\t\t\t\t\t\t\u00a0\t\t\t\t\t\t\t\u00a0\t\t\t\t\t\t\t\t\t\t\t\t$687,585\t\t\t\t\t\t\t\t\t\t\u00a0\t\t\t\t\t\t\t\t\t\t\t\t$637,760\t\t\t\t\t\t\t\tAdditional information for 2014:\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t1.\t\t\t\t\t\t\t\t\t\t\u00a0\t\t\t\t\t\t\t\t\t\t\t\tNet income was $30,600.\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t2.\t\t\t\t\t\t\t\t\t\t\u00a0\t\t\t\t\t\t\t\t\t\t\t\tSales on account were $377,000. Sales returns and allowances amounted to $26,600.\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t3.\t\t\t\t\t\t\t\t\t\t\u00a0\t\t\t\t\t\t\t\t\t\t\t\tCost of goods sold was $201,000.\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t4.\t\t\t\t\t\t\t\t\t\t\u00a0\t\t\t\t\t\t\t\t\t\t\t\tNet cash provided by operating activities was $58,500.\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t5.\t\t\t\t\t\t\t\t\t\t\u00a0\t\t\t\t\t\t\t\t\t\t\t\tCapital expenditures were $26,100, and cash dividends were $17,300.\t\t\t\t\t\t\t\tCompute the following ratios at December 31, 2014.\u00a0\t\u00a0\t\u00a0\tExercise 13-13\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\u00a0\t\t\t\t\t\t\t\t\t\t\t\t\t\t\tYour answer is partially correct.\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\u00a0\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\u00a0\t\t\t\t\t\t\tThe condensed financial statements of Elliott Company for the years 2013 and 2014 are presented below.\t\t\t\t\t\t\t\t\t\t\t\t\t\t\tELLIOTT COMPANY\t\t\t\t\tBalance Sheets\t\t\t\t\tDecember 31 (in thousands)\t\t\t\t\t\t\t\t\t\t\t\t\t\t\u00a0\t\t\t\t\t\t\t\u00a0\t\t\t\t\t\t\t\t\t\t\t\t2014\t\t\t\t\t\t\t\t\t\t\u00a0\t\t\t\t\t\t\t\t\t\t\t\t2013\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\tCurrent assets\t\t\t\t\t\t\t\t\t\t\u00a0\t\t\t\t\t\t\t\u00a0\t\t\t\t\t\t\t\u00a0\t\t\t\t\t\t\t\u00a0\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\u00a0\u00a0\u00a0Cash and cash equivalents\t\t\t\t\t\t\t\t\t\t\u00a0\t\t\t\t\t\t\t\t\t\t\t\t$330\t\t\t\t\t\t\t\t\t\t\u00a0\t\t\t\t\t\t\t\t\t\t\t\t$360\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\u00a0\u00a0\u00a0Accounts receivable (net)\t\t\t\t\t\t\t\t\t\t\u00a0\t\t\t\t\t\t\t\t\t\t\t\t545\t\t\t\t\t\t\t\t\t\t\u00a0\t\t\t\t\t\t\t\t\t\t\t\t475\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\u00a0\u00a0\u00a0Inventory\t\t\t\t\t\t\t\t\t\t\u00a0\t\t\t\t\t\t\t\t\t\t\t\t640\t\t\t\t\t\t\t\t\t\t\u00a0\t\t\t\t\t\t\t\t\t\t\t\t570\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\u00a0\u00a0\u00a0Prepaid expenses\t\t\t\t\t\t\t\t\t\t\u00a0\t\t\t\t\t\t\t\t\t\t\t\t130\t\t\t\t\t\t\t\t\t\t\u00a0\t\t\t\t\t\t\t\t\t\t\t\t160\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t \ufffdTotal current assets\t\t\t\t\t\t\t\t\t\t\u00a0\t\t\t\t\t\t\t\t\t\t\t\t1,645\t\t\t\t\t\t\t\t\t\t\u00a0\t\t\t\t\t\t\t\t\t\t\t\t1,565\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\tProperty, plant, and equipment (net)\t\t\t\t\t\t\t\t\t\t\u00a0\t\t\t\t\t\t\t\t\t\t\t\t410\t\t\t\t\t\t\t\t\t\t\u00a0\t\t\t\t\t\t\t\t\t\t\t\t380\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\tInvestments\t\t\t\t\t\t\t\t\t\t\u00a0\t\t\t\t\t\t\t\t\t\t\t\t85\t\t\t\t\t\t\t\t\t\t\u00a0\t\t\t\t\t\t\t\t\t\t\t\t85\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\tIntangibles and other assets\t\t\t\t\t\t\t\t\t\t\u00a0\t\t\t\t\t\t\t\t\t\t\t\t530\t\t\t\t\t\t\t\t\t\t\u00a0\t\t\t\t\t\t\t\t\t\t\t\t510\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t \ufffdTotal assets\t\t\t\t\t\t\t\t\t\t\u00a0\t\t\t\t\t\t\t\t\t\t\t\t$2,670\t\t\t\t\t\t\t\t\t\t\u00a0\t\t\t\t\t\t\t\t\t\t\t\t$2,540\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\tCurrent liabilities\t\t\t\t\t\t\t\t\t\t\u00a0\t\t\t\t\t\t\t\t\t\t\t\t$895\t\t\t\t\t\t\t\t\t\t\u00a0\t\t\t\t\t\t\t\t\t\t\t\t$865\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\tLong-term liabilities\t\t\t\t\t\t\t\t\t\t\u00a0\t\t\t\t\t\t\t\t\t\t\t\t660\t\t\t\t\t\t\t\t\t\t\u00a0\t\t\t\t\t\t\t\t\t\t\t\t560\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\tStockholders’ equity”\ufffdcommon\t\t\t\t\t\t\t\t\t\t\u00a0\t\t\t\t\t\t\t\t\t\t\t\t1,115\t\t\t\t\t\t\t\t\t\t\u00a0\t\t\t\t\t\t\t\t\t\t\t\t1,115\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t \ufffdTotal liabilities and stockholders’ equity\t\t\t\t\t\t\t\t\t\t\u00a0\t\t\t\t\t\t\t\t\t\t\t\t$2,670\t\t\t\t\t\t\t\t\t\t\u00a0\t\t\t\t\t\t\t\t\t\t\t\t$2,540\t\t\t\t\t\t\t\u00a0\t\t\t\t\t\t\t\t\t\t\t\t\t\t\tELLIOTT COMPANY\t\t\t\t\tIncome Statements\t\t\t\t\tFor the Year Ended December 31 (in thousands)\t\t\t\t\t\t\t\t\t\t\t\t\t\t\u00a0\t\t\t\t\t\t\t\u00a0\t\t\t\t\t\t\t\t\t\t\t\t2014\t\t\t\t\t\t\t\t\t\t\u00a0\t\t\t\t\t\t\t\t\t\t\t\t2013\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\tSales revenue\t\t\t\t\t\t\t\t\t\t\u00a0\t\t\t\t\t\t\t\t\t\t\t\t$3,980\t\t\t\t\t\t\t\t\t\t\u00a0\t\t\t\t\t\t\t\t\t\t\t\t$3,640\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\tCosts and expenses\t\t\t\t\t\t\t\t\t\t\u00a0\t\t\t\t\t\t\t\u00a0\t\t\t\t\t\t\t\u00a0\t\t\t\t\t\t\t\u00a0\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\u00a0\u00a0\u00a0Cost of goods sold\t\t\t\t\t\t\t\t\t\t\u00a0\t\t\t\t\t\t\t\t\t\t\t\t1,045\t\t\t\t\t\t\t\t\t\t\u00a0\t\t\t\t\t\t\t\t\t\t\t\t965\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\u00a0\u00a0\u00a0Selling & administrative expenses\t\t\t\t\t\t\t\t\t\t\u00a0\t\t\t\t\t\t\t\t\t\t\t\t2,400\t\t\t\t\t\t\t\t\t\t\u00a0\t\t\t\t\t\t\t\t\t\t\t\t2,330\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\u00a0\u00a0\u00a0Interest expense\t\t\t\t\t\t\t\t\t\t\u00a0\t\t\t\t\t\t\t\t\t\t\t\t10\t\t\t\t\t\t\t\t\t\t\u00a0\t\t\t\t\t\t\t\t\t\t\t\t20\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t \ufffdTotal costs and expenses\t\t\t\t\t\t\t\t\t\t\u00a0\t\t\t\t\t\t\t\t\t\t\t\t3,455\t\t\t\t\t\t\t\t\t\t\u00a0\t\t\t\t\t\t\t\t\t\t\t\t3,315\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\tIncome before income taxes\t\t\t\t\t\t\t\t\t\t\u00a0\t\t\t\t\t\t\t\t\t\t\t\t525\t\t\t\t\t\t\t\t\t\t\u00a0\t\t\t\t\t\t\t\t\t\t\t\t325\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\tIncome tax expense\t\t\t\t\t\t\t\t\t\t\u00a0\t\t\t\t\t\t\t\t\t\t\t\t210\t\t\t\t\t\t\t\t\t\t\u00a0\t\t\t\t\t\t\t\t\t\t\t\t130\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\tNet income\t\t\t\t\t\t\t\t\t\t\u00a0\t\t\t\t\t\t\t\t\t\t\t\t$\u00a0315\t\t\t\t\t\t\t\t\t\t\u00a0\t\t\t\t\t\t\t\t\t\t\t\t$\u00a0195\t\t\t\t\t\t\t\tCompute the following ratios for 2014 and 2013.\u00a0(Round all answers to 2 decimal places, e.g. 1.83 or 12.61%.)\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t(a)\t\t\t\t\t\t\t\t\t\t\u00a0\t\t\t\t\t\t\t\t\t\t\t\tCurrent ratio.\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t(b)\t\t\t\t\t\t\t\t\t\t\u00a0\t\t\t\t\t\t\t\t\t\t\t\tInventory turnover. (Inventory on December 31, 2012, was $380.)\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t(c)\t\t\t\t\t\t\t\t\t\t\u00a0\t\t\t\t\t\t\t\t\t\t\t\tProfit margin.\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t(d)\t\t\t\t\t\t\t\t\t\t\u00a0\t\t\t\t\t\t\t\t\t\t\t\tReturn on assets. (Assets on December 31, 2012, were $1,950.)\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t(e)\t\t\t\t\t\t\t\t\t\t\u00a0\t\t\t\t\t\t\t\t\t\t\t\tReturn on common stockholders’ equity. (Equity on December 31, 2012, was $940.)\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t(f)\t\t\t\t\t\t\t\t\t\t\u00a0\t\t\t\t\t\t\t\t\t\t\t\tDebt to assets ratio.\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t(g)\t\t\t\t\t\t\t\t\t\t\u00a0\t\t\t\t\t\t\t\t\t\t\t\tTimes interest earned.<\/p>\n","protected":false},"excerpt":{"rendered":"
This Tutorial contains Excel Sheet which can be used to solve below mentioned Problem for any numbers\/values \u00a0 \u00a0 Complete\u00a0the assigned exercises in WileyPLUS. Exercise 13-9 Exercise 13-13 \u00a0 Exercise 13-9 \u00a0 Your answer is partially correct. \u00a0 \u00a0 Kinder Read More …<\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-218689","post","type-post","status-publish","format-standard","hentry"],"_links":{"self":[{"href":"https:\/\/www.benedictsol.com\/blogs\/wp-json\/wp\/v2\/posts\/218689","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.benedictsol.com\/blogs\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.benedictsol.com\/blogs\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.benedictsol.com\/blogs\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.benedictsol.com\/blogs\/wp-json\/wp\/v2\/comments?post=218689"}],"version-history":[{"count":0,"href":"https:\/\/www.benedictsol.com\/blogs\/wp-json\/wp\/v2\/posts\/218689\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.benedictsol.com\/blogs\/wp-json\/wp\/v2\/media?parent=218689"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.benedictsol.com\/blogs\/wp-json\/wp\/v2\/categories?post=218689"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.benedictsol.com\/blogs\/wp-json\/wp\/v2\/tags?post=218689"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}