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3 years ago

The following data is available for Everest Company:

Business

1 answer:

Lady bird [3.3K]3 years ago

5 0

Answer:

a. Current ratio = Total current assets / Total current liabilities = $366 / $226 = 1.62 to 1

b. Average receivable = (Beginning receivables + Ending receivables) / 2 = ($156 + $160) / 2 = $158

Average collection period = Number of days in year / Credit sales * Average accounts receivable = 365 / $1,702 * $158 = 33.88 days

c. Average Stockholder's equity = (Beginning equity + Ending equity) / 2 = ($500 + $550) / 2 = $525

Return on stockholder's equity = Net income / Average stockholder's equity = $112 / $525 = 21.33%

d. Earnings per share = Net income / Common shares outstanding = $112 / 46 = $2.43 per share

Price earnings ratio = Market price per share / Earnings per share = $50 / $2.43 = 20.58 times

e. Dividends per share = Dividends / Common shares outstanding = $92 / 46 = $2.00 per share

Dividend yield ratio = Dividend per share / Market price per share = $2.00 / $50 = 4.00%

Workings

Beginning retained earnings $346

Add: Net income $112

Less: Ending retained earnings -$366

Dividends $92

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