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Problem 13-2A_Lucille Company_Financial ratios




Question;Problem 13-2A;The comparative statements of Lucille Company are presented;here.;LUCILLE COMPANY;Income Statements;For the Years Ended;December 31;2012 2011;Net sales $1,893,173;$1,753,133;Cost of;goods sold 1,061,173;1,008,633;Gross profit;832,000 744,500;Selling and;administrative expenses 502,633;481,633;Income from;operations 329,367;262,867;Other;expenses and losses;Interest expense 23,833 21,833;Income;before income taxes 305,534 241,034;Income tax;expense 93,833 74,833;Net income $ 211,701;$ 166,201;LUCILLE COMPANY;Balance Sheets;December 31;Assets 2012;2011;Current;assets;Cash $;60,100 $;64,200;Short-term investments 74,000 50,000;Accounts receivable 120,433 105,433;Inventory 127,833 117,333;Total current assets 382,366 336,966;Plant assets;(net) 660,933 532,233;Total assets;$1,043,299;$869,199;Liabilities;and Stockholders? Equity;Current;liabilities;Accounts payable $ 162,633 $148,033;Income taxes payable 45,333 43,833;Total current liabilities 207,966 191,866;Bonds;payable 231,933;211,933;Total liabilities 439,899;403,799;Stockholders?;equity;Common stock ($5 par) 290,000 300,000;Retained earnings 313,400 165,400;Total stockholders? equity 603,400 465,400;Total;liabilities and stockholders? equity $1,043,299 $869,199;All sales were on account. Net cash provided by operating;activities for 2012 was $230,640. Capital expenditures were $135,520, and cash;dividends were $63,701.;Compute the following ratios for 2012. (Round all answers to;2 decimal places, e.g. 1.83 or 12.61%.)


Paper#44636 | Written in 18-Jul-2015

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