total liabilities and equities 544573
The following data apply to items (a) through (g):
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(In thousands) |
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Assets |
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Current assets: |
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Cash and temporary investments |
$ 380 |
$ 400 |
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Accounts receivable (net) |
1,500 |
1,700 |
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Inventories |
2,120 |
2,200 |
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Total current assets |
4,000 |
4,300 |
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Long-term assets: |
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Land |
500 |
500 |
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Building and equipment (net) |
4,000 |
4,700 |
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Total long-term assets |
4,500 |
5,200 |
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Total assets |
$8,500 |
$9,500 |
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Liabilities and Equities |
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Current liabilities: |
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Accounts payable |
$ 700 |
$1,400 |
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Current portion of long-term debt |
500 |
1,000 |
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Total current liabilities |
1,200 |
2,400 |
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Long-term debt |
4,000 |
3,000 |
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Total liabilities |
5,200 |
5,400 |
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Stockholders’ equity: |
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Common stock |
3,000 |
3,000 |
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Retained earnings |
300 |
1,100 |
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Total stockholders’ equity |
3,300 |
4,100 |
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Total liabilities and equities |
$8,500 |
$9,500 |
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JOHANSON COMPANY |
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(In thousands) |
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Net sales |
$28,800 |
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Less: Cost of goods sold |
$15,120 |
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Selling expenses |
7,180 |
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Administrative expenses |
4,100 |
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Interest |
400 |
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Income taxes |
800 |
27,600 |
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Net income |
1,200 |
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Retained earnings, January 1 |
300 |
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Subtotal |
1,500 |
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Cash dividends declared and paid |
400 |
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Retained earnings, December 31 |
$ 1,100 |
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Answer the following multiple-choice questions:
Required:
Answer the following multiple-choice questions:
a. The acid-test ratio for 2001 is
1. 1.1 to 1
2. .9 to 1
3.1. 8 to 1
4. .2 to 1
5. .17 to 1
b.The average number of days’ sales outstanding in 2001 is
1.18 days 4. 4.4 days
2.360 days 5. 80 days
3.20 days
c.The times interest earned ratio for 2001 is
1. 3.0 times
2. 1.0 times
3.72. 0 times
4. 2.0 times
5. 6.0 times
d.The asset turnover in 2001 is
1. 3.2 times
2. 1.7 times
3.. 4 times
4. 1.1 times
5. .13 times
e.The inventory turnover in 2001 is
1. 13.6 times
2. 12.5 times
3.. 9 times
4. 7.0 times
5. 51.4 times
f.The operating income margin in 2001 is
1. 2.7%
2. 91.7%
3.52. 5%
4. 95.8%
5. 8.3%
g.The dividend payout ratio in 2001 is
1.100%
2.36%
3.20%
4. 8.8%
5. 33.3%
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