hendi company has these comparative balance sheet data 535509
Hendi Company has these comparative balance sheet data:
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hendi company has these comparative balance sheet data 535509
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|
HENDI COMPANY |
||
|
2012 |
2011 |
|
|
Cash |
$ 15,000 |
$ 30,000 |
|
Receivables (net) |
70,000 |
60,000 |
|
Inventories |
60,000 |
50,000 |
|
Plant assets (net) |
200,000 |
180,000 |
|
$345,000 |
$320,000 |
|
|
Accounts payable |
$ 50,000 |
$ 60,000 |
|
Mortgage payable (15%) |
100,000 |
100,000 |
|
Common stock, $10 par |
140,000 |
120,000 |
|
Retained earnings |
55,000 |
40,000 |
|
$345,000 |
$320,000 |
|
Additional information for 2012:
1. Net income was $25,000.
2. Sales on account were $375,000. Sales returns and allowances amounted to $25,000.
3. Cost of goods sold was $198,000.
4. Net cash provided by operating activities was $48,000.
5. Capital expenditures were $25,000, and cash dividends were $10,000.
Instructions
Compute the following ratios at December 31, 2012.
(a) Current. (e) Days in inventory.
(b) Receivables turnover. (f ) Cash debt coverage.
(c) Average collection period. (g) Current cash debt coverage.
(d) Inventory turnover. (h) Free cash flow.
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