Condensed balance sheet and income statement data for Lark Corporation are presented here.
LARK CORPORATION
Balance Sheets
December 31
| Assets | 2010 | 2009 |
| Cash | $25,000 | $20,000 |
| Receivables (net) | 70,000 | 62,000 |
| Other current assets | 80,000 | 73,000 |
| Long-term investments | 75,000 | 60,000 |
| Plant and equipment (net) | 510,000 | 470,000 |
| Total assets | $760,000 | $685,000 |
| Liabilities and Stockholders’ Equity | ||
| Current liabilities | $75,000 | $70,000 |
| Long-term debt | 80,000 | 90,000 |
| Common stock | 330,000 | 300,000 |
| Retained earnings | 275,000 | 225,000 |
| Total liabilities and stockholder’s equity | $760,000 | $685,000 |
LARK CORPORATION
Income Statement
For the Years Ended December 31
| 2010 | 2009 | |
| Sales | $750,000 | $670,000 |
| Cost of goods sold | 440,000 | 400,000 |
| Operating expenses (including income taxes) | 240,000 | 220,000 |
| Net income | $70,000 | $50,000 |
| Additional information: |
| |
| Cash from operating activities | $87,000 | $60,000 |
| Cash used for capital expenditures | $45,000 | $38,000 |
| Dividends paid | $20,000 | $15,000 |
| Average number of shares outstanding | 33,000 | 30,000 |
Compute the following five values and ratios for 2009 and 2010. (Round all ratios to two decimal places, e.g. 17.54 or 6.25 : 1)
Put your answers in the yellow highlighted cells.
Earnings per share.
Working capital
Current ratio
Debt to total assets ratio
Free cash flow
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