"Exercise 13-9 Kinder Company has these comparative balance sheet data: KINDER COMPANY Balance Sheets December 31 2014 2013 Cash $ 22,035 $ 44,070 Accounts receivable (net) 102,830 88,140 Inventory 88,140 73,450 Plant assets (net) 293,800 264,420 $506,805 $470,080 Accounts payable $ 73,450 $ 88,140 Mortgage payable (15%) 146,900 146,900 Common stock, $10 par 205,660 176,280 Retained earnings 80,795 58,760 $506,805 $470,080 Additional information for 2014: 1. Net income was $34,900. 2. Sales on account were $391,900. Sales returns and allowances amounted to $29,400. 3. Cost of goods sold was $208,500. 4. Net cash provided by operating activities was $59,300. 5. Capital expenditures were $28,600, and cash dividends were $13,700. Compute the following ratios at December 31, 2014. (Round all answers to 2 decimal places, e.g. 1.83.) (a) Current ratio. :1 (b) Accounts receivable turnover. times (c) Average collection period. days (d) Inventory turnover. times (e) Days in inventory. days (f) Cash debt coverage ratio. times (g) Current cash debt coverage ratio. times (h) Free cash flow. $ Click if you would like to Show Work for this question: Open Show Work Exercise 13-13 The condensed financial statements of Elliott Company for the years 2013 and 2014 are presented below. ELLIOTT COMPANY Balance Sheets December 31 (in thousands) 2014 2013 Current assets Cash and cash equivalents $330 $360 Accounts receivable (net) 608 538 Inventory 550 480 Prepaid expenses 130 160 Total current assets 1,618 1,538 Property, plant, and equipment (net) 410 380 Investments 148 148 Intangibles and other assets 530 510 Total assets $2,706 $2,576 Current liabilities $958 $928 Long-term liabilities 570 470 Stockholders' equity—common 1,178 1,178 Total liabilities and stockholders' equity $2,706 $2,576 ELLIOTT COMPANY Income Statements For the Year Ended December 31 (in thousands) 2014 2013 Sales revenue $3,890 $3,550 Costs and expenses Cost of goods sold 1,108 1,028 Selling & administrative expenses 2,400 2,330 Interest expense 10 20 Total costs and expenses 3,518 3,378 Income before income taxes 372 172 Income tax expense 149 69 Net income $ 223 $ 103 Compute the following ratios for 2014 and 2013. (Round all answers to 2 decimal places, e.g. 1.83 or 12.61%.) (a) Current ratio. (b) Inventory turnover. (Inventory on December 31, 2012, was $360.) (c) Profit margin. (d) Return on assets. (Assets on December 31, 2012, were $2,710.) (e) Return on common stockholders' equity. (Equity on December 31, 2012, was $950.) (f) Debt to assets ratio. (g) Times interest earned. 2014 2013 Current ratio. :1 :1 Inventory turnover. Profit margin. % % Return on assets. % % Return on common stockholders' equity. % % Debt to assets ratio. % % Times interest earned. times times Click if you would like to Show Work for this question: Open Show Work Brief Exercise 13-8 Vertical analysis (common-size) percentages for Capuano Company's sales, cost of goods sold, and expenses are listed here. Vertical Analysis 2014 2013 2012 Sales revenue 100 % 100 % 100 % Cost of goods sold 62.6 64.0 66.8 Expenses 24.1 27.1 29.7 Calculate Capuano's net income as a percent of sales. (Round answers to 1 decimal place, e.g. 5.2.) 2014 2013 2012 Net income Brief Exercise 13-11 (Part Level Submission) The following data are taken from the financial statements of Filbert Company. 2014 2013 Accounts receivable (net), end of year $ 550,300 $ 602,600 Net sales on account 4,859,600 3,986,800 Terms for all sales are 1/10, n/45 (a) Compute for each year the receivable turnover ratio. At the end of 2012, accounts receivable was $560,900. (Round answers to 1 decimal place, e.g. 12.5.) 2014 2013 Receivables turnover ratio times times Click if you would like to Show Work for this question: Open Show Work