The comparative statement of Corbin Company are presentedbelow.
Corbin Co.
Income Statement
For the Years Ended December 31st
2017 2016
Net Sales (all onaccount) $599,900 $520,200
Expenses
Cost of GoodSold 414,300 352,600
Selling andadministrative 119,300 114,500
InterestExpense 9,000 6,000
Income TaxExpense 17,400 14,000
TotalExpenses 560,000 488,100
NetIncome $39,900 $32,100
Corbin Company
Balance Sheet
December 31
Assests 2017 2016
Current Assests
Cash $20,400 $18,500
Short-termInvestments 17,600 14,800
Accounts Receivable(net) 86,200 74,000
Inventory 90,700 70,100
Total CurrentAssests 214,900 177,400
Plant Assests(net) 423,200 383,800
TotalAssets 638,100 561,200
Liabilities and Stockholders Equity
CurrentLiabilities
AccountsPayable 122,800 110,200
Income TaxesPayble 23,300 19,700
Total CurrentLiabilities 146,100 129,900
Long TermLiabilities
BondsPayable 120,800 79,700
TotalLiabilities 266,900 209,600
Stockholders' Equity
Common Stock ($5 par) 148,000 148,000
RetainedEarnings 223,200 203,600
Total StockholderdsEquity 371,200 351,600
Total Liabilities and Stockholders'Equity $638,100 $561,200
Additional Data:
The common stock recently sold at $20.29 per share.
Compute the following ratios for 2017. (Round acid test ratioand earnings per share to 2 decimal places and all other answers to1 decimal place.)
A. Current Ratio
B. Acid Test Ratio
C. Accounts Receivable Turnover
D. Inventory Turnover
E. Profit Margin
F. Asset Turnover
G. Return on Assets
H. Return on common stockholders' equity
I. Earnings per share
J. Price-earnings ratio
K. Payout Ratio
L. Debt to asset ratio
M. Times interest earned
The comparative statement of Corbin Company are presentedbelow.
Corbin Co.
Income Statement
For the Years Ended December 31st
2017 2016
Net Sales (all onaccount) $599,900 $520,200
Expenses
Cost of GoodSold 414,300 352,600
Selling andadministrative 119,300 114,500
InterestExpense 9,000 6,000
Income TaxExpense 17,400 14,000
TotalExpenses 560,000 488,100
NetIncome $39,900 $32,100
Corbin Company
Balance Sheet
December 31
Assests 2017 2016
Current Assests
Cash $20,400 $18,500
Short-termInvestments 17,600 14,800
Accounts Receivable(net) 86,200 74,000
Inventory 90,700 70,100
Total CurrentAssests 214,900 177,400
Plant Assests(net) 423,200 383,800
TotalAssets 638,100 561,200
Liabilities and Stockholders Equity
CurrentLiabilities
AccountsPayable 122,800 110,200
Income TaxesPayble 23,300 19,700
Total CurrentLiabilities 146,100 129,900
Long TermLiabilities
BondsPayable 120,800 79,700
TotalLiabilities 266,900 209,600
Stockholders' Equity
Common Stock ($5 par) 148,000 148,000
RetainedEarnings 223,200 203,600
Total StockholderdsEquity 371,200 351,600
Total Liabilities and Stockholders'Equity $638,100 $561,200
Additional Data:
The common stock recently sold at $20.29 per share.
Compute the following ratios for 2017. (Round acid test ratioand earnings per share to 2 decimal places and all other answers to1 decimal place.)
A. Current Ratio
B. Acid Test Ratio
C. Accounts Receivable Turnover
D. Inventory Turnover
E. Profit Margin
F. Asset Turnover
G. Return on Assets
H. Return on common stockholders' equity
I. Earnings per share
J. Price-earnings ratio
K. Payout Ratio
L. Debt to asset ratio
M. Times interest earned
