managerial accounting help asap 403380
Lundberg Corporation”s most recent balance sheet and income statement appear below:
Don't use plagiarized sources. Get Your Custom Essay on
managerial accounting help asap 403380
For $10/Page 0nly
| Statement of Financial Position December 31, Year 2 and Year 1 (in thousands of dollars) |
||||||
| Year 2 | Year 1 | |||||
| Assets | ||||||
| Current assets: | ||||||
| Cash | $ | 100 | $ | 110 | ||
| Accounts receivable | 210 | 220 | ||||
| Inventory | 110 | 120 | ||||
| Prepaid expenses | 10 | 10 | ||||
|
|
|
|
|
|
|
|
| Total current assets | 430 | 460 | ||||
| Plant and equipment, net | 900 | 880 | ||||
|
|
|
|
|
|
|
|
| Total assets | $ | 1,330 | $ | 1,340 | ||
|
|
|
|
|
|
|
|
| Liabilities and Stockholders” Equity | ||||||
| Current liabilities: | ||||||
| Accounts payable | $ | 160 | $ | 170 | ||
| Accrued liabilities | 50 | 50 | ||||
| Notes payable, short term | 100 | 90 | ||||
|
|
|
|
|
|
|
|
| Total current liabilities | 310 | 310 | ||||
| Bonds payable | 190 | 240 | ||||
|
|
|
|
|
|
|
|
| Total liabilities | 500 | 550 | ||||
|
|
|
|
|
|
|
|
| Stockholders” equity: | ||||||
| Preferred stock, $100 par value, 10% | 200 | 200 | ||||
| Common stock, $1 par value | 100 | 100 | ||||
| Additional paid in capital common stock | 110 | 110 | ||||
| Retained earnings | 420 | 380 | ||||
|
|
|
|
|
|
|
|
| Total stockholders” equity | 830 | 790 | ||||
|
|
|
|
|
|
|
|
| Total liabilities & stockholders” equity | $ | 1,330 | $ | 1,340 | ||
|
|
|
|
|
|
|
|
|
|
||||||
| Income Statement For the Year Ended December 31, Year 2 (in thousands of dollars) |
||||
| Sales (all on account) | $ | 1,330 | ||
| Cost of goods sold | 850 | |||
|
|
|
|||
| Gross margin | 480 | |||
| Selling and administrative expense | 292 | |||
|
|
|
|||
| Net operating income | 188 | |||
| Interest expense | 31 | |||
|
|
|
|||
| Net income before taxes | 157 | |||
| Income taxes (30%) | 47 | |||
|
|
|
|||
| Net income | $ | 110 | ||
|
|
|
|||
|
|
||||
|
Dividends on common stock during Year 2 totaled $50 thousand. Dividends on preferred stock totaled $20 thousand. The market price of common stock at the end of Year 2 was $9.36 per share. |
| Required: | |
| Compute the following for Year 2: |
| a. |
Gross margin percentage. (Round your answer to 1 decimal place.) |
| Gross margin percentage | % |
|
b. |
Earnings per share of common stock. (Round your answer to 2 decimal places.) |
| Earnings per share | $ |
|
c. |
Price earnings ratio. (Round your intermediate calculations to 2 decimal places and final answer to 1 decimal place.) |
| Price earnings ratio | times |
|
d. |
Dividend payout ratio. (Round your intermediate calculations to 2 decimal places and final answer to 1 decimal place.) |
| Dividend payout ratio | % |
|
e. |
Dividend yield ratio. (Round your answer to 2 decimal places.) |
| Dividend yield ratio | % |
|
f. |
Return on total assets. (Round your intermediate calculations and final answer to 2 decimal places.) |
| Return on total assets | % |
|
g. |
Return on common stockholders” equity. (Round your answer to 2 decimal places.) |
| Return on common stockholders” equity | % |
|
h. |
Book value per share. (Round your answer to 2 decimal places.) |
| Book value per share | $ |
|
i. |
Working capital. |
| Working captial | $ |
|
j. |
Current ratio. (Round your answer to 2 decimal places.) |
| Current ratio |
|
k. |
Acid test ratio. (Round your answer to 2 decimal places.) |
| Acid test ratio |
|
l. |
Accounts receivable turnover. (Round your answer to 2 decimal places.) |
| Accounts receivable turnover |
|
m. |
Average collection period. (Assume 365 days a year and round your answer to 1 decimal place.) |
| Average collection period | days |
|
n. |
Inventory turnover. (Round your answer to 2 decimal places.) |
| Inventory turnover |
|
o. |
Average sale period. (Assume 365 days a year and round your answer to 1 decimal place.) |
| Average sale period | days |
|
p. |
Times interest earned. (Round your answer to 2 decimal places.) |
| Times interest earned |
|
q. |
Debt to equity ratio. (Round your answer to 2 decimal places.) |
| Debt to equity ratio |
|
Calculator
Our features
We've got everything to become your favourite writing service
Money back guarantee
Your money is safe. Even if we fail to satisfy your expectations, you can always request a refund and get your money back.
Confidentiality
We don’t share your private information with anyone. What happens on our website stays on our website.
Our service is legit
We provide you with a sample paper on the topic you need, and this kind of academic assistance is perfectly legitimate.
Get a plagiarism-free paper
We check every paper with our plagiarism-detection software, so you get a unique paper written for your particular purposes.
We can help with urgent tasks
Need a paper tomorrow? We can write it even while you’re sleeping. Place an order now and get your paper in 8 hours.
Pay a fair price
Our prices depend on urgency. If you want a cheap essay, place your order in advance. Our prices start from $11 per page.