Financial Statement Analysis, accounting homework help
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Financial Statement Analysis
The following information relates to Harris Corporation.
|
Account |
Current year |
Prior year |
|
Net sales (all credit) |
$520,125 |
$499,500 |
|
Cost of goods sold |
$375,960 |
$353,600 |
|
Gross profit |
$144,165 |
$145,900 |
|
Income from operations |
$ 95,500 |
$ 79,900 |
|
Interest expense |
$ 23,500 |
$ 19,500 |
|
Net income |
$ 57,600 |
$ 51,600 |
|
Cash |
$ 30,600 |
$ 15,900 |
|
Accounts receivable, net |
$ 33,800 |
$ 23,200 |
|
Inventory |
$ 42,000 |
$ 30,300 |
|
Prepaid expenses |
$ 2,000 |
$ 1,500 |
|
Total current assets |
$ 108,400 |
$ 70,900 |
|
Total long-term assets |
$ 62,000 |
$ 38,000 |
|
Total current liabilities |
$ 46,000 |
$ 41,600 |
|
Total long-term liabilities |
$ 20,000 |
$ 22,700 |
|
Common stock, no par, 3,000 shares, value $50/share |
$ 30,000 |
$ 30,000 |
Required:
-
What is the acid-test ratio for the current
year? -
What is the inventory turnover for the current
year? -
What is days’ sales in receivables for the
current year? -
What is the book value per share of common stock
for the current year? -
What is the price-earnings ratio for the current
year? -
What is the rate of return on total assets for
the current year? -
What is the times-interest-earned ratio for the
current year? -
What is the current ratio for the current year?
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