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Use the financial statements for Bernard Company from Problem 9-22 to calculate the following for 2012 and 2011.
a. Working capital
b. Current Ratio
c. Quick Ratio
d. Accounts receivable turnover (beginning receivables at 01/01/2011, was $47,000)
e. Average number of days to collect accounts receivable
f. Inventory turnover (beginning inventory at 01/01/2011, was $140,000)
g. Average number of days to sell inventory
h. Debt to asset ratio
i. Debt to equity ratio
j. Times interest earned
k. Plant assets to long-term debt
l. Net margin
m. Asset turnover
n. Return on investment (ROI)
o. Return on Equity (ROE)
p. Earnings per share
q. Book value per share of common stock
r. Price-earnings ratio (market price per share, 2011, $11.75; 2012, $12.50)
s. Dividend yield on common stock
Bernard Company Balance Sheets
Assets 2012 2011
current Assets
Cash $16,000 $12,000
marketable Secr. 20,000 6,000
acct. rec. (net) 54,000 46,000
inventories 135,000 143,000
prepaid items 25,000 10,000
Total current Assets 250,000 217,000
investments 27,000 20,000
plant (net) 270,000 255,000
land 29,000 24,000
Total assets $576,000 $516,000
liabilities
current liabilities
notes payable $17,000 $6,000
accounts Payable 113,800 100,000
salarys 21,000 15,000
total liabilities 151,800 121,000
noncurrent liab.
bonds payable 100,000 100,000
other 32,000 27,000
total noncurrent 132,000 127,000
total liabilities 283,800 248,000
stockholders equity
preferred stock, par value 80,000 80,000
$10, 4% cumulative, non-
participating 8,000 shares authorized:
10,000 shares issued 80,000 80,000
retained earnings 132,200 108,000
total stockholders eq 292,200 268,000
total liabilities and
stockholders equity $576,000 $516,000
Bernards Company statements of income and retained earnings for the years ended December 31:
Revenues 2012 2011
sales (net) $230,000 $210,000
other revenues 8,000 5,000
total revenues $238,000 215,000
Expenses
cost of goods sold 120,000 103,000
selling, general, and 55,000 50,000
administrative expenses
interest expenses 8,000 7,200
income tax expense 23,000 22,000
total expenses 206,000 182,000
net earnings (net income) 32,000 32,800
retained earnings Jan 1 108,000 83,000
less preferred stock dividends 2,800 2,800
common stock dividends 5,000 5,000
Retained earnings, Dec 31 132,200 108,000
