Business
Business, 28.06.2021 22:20, xxaurorabluexx

BLOSSOM COMPANY Income Statements For the Years Ended December 31 2022 2021Net sales $1,919,400 $1,785,000Cost of goods sold 1,067,000 1,046,240 Gross profit 852,400 738,760Selling and administrative expenses 520,000 498,160Income from operations 332,400 240,600 Other expenses and losses Interest expense 22,880 20,800 Income before income taxes 309,520 219,800Income tax expense 92,856 65,940Net income $216,664 $153,860 BLOSSOM COMPANY Balance Sheets December 31 Assets 2022 2021 Current assets Cash $62,504 $66,768Debt investments (short-term) 76,960 52,000 Accounts receivable 122,512 106,912 Inventory 131,040 120,120Total current assets 393,016 345,800Plant assets (net) 674,960 541,112Total assets $1,067,976 $886,912 Liabilities and Stockholders' Equity Current liabilities Accounts payable $166,400 $151,216 Income taxes payable 45,240 43,680Total current liabilities 211,640 194,896Bonds payable 228,800 208,000Total liabilities 440,440 402,896Stockholders' equity Common stock (54 par) 301,600 312,000 Retained earnings 325,936 172,016Total stockholders' equity 627,536 484,016Total liabilities and stockholders' equity $1,067,976 $886,912 All sales were on account. Net cash provided by operating activities for 2022 was $233,200. Capital expenditures were $144,160, and cash dividends were $64,376. Compute the following ratios for 2022.(a) Earnings per share (b) Return on common stockholders' equity (c) Return on assets (d) Current ratio (e) Accounts receivable turnover (f) Average collection period (g) Inventory turnover (h) Days in inventory times days times days (i) Times interest earned times (j) Asset turnover times (k) Debt to assets ratio

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BLOSSOM COMPANY Income Statements For the Years Ended December 31 2022 2021Net sales $1,919,400 $1,7...

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