Condensed balance sheet and income statement data for Lark Corporation are presented here.
LARK CORPORATION
Balance Sheets
December 31
|
Assets |
2010 |
2009 |
|
Cash |
$25,000 |
$20,000 |
|
Receivables (net) |
70,000 |
62,000 |
|
Other current assets |
80,000 |
73,000 |
|
Long-term investments |
75,000 |
60,000 |
|
Plant and equipment (net) |
510,000 |
470,000 |
|
Total assets |
$760,000 |
$685,000 |
|
Liabilities and Stockholders’ Equity |
||
|
Current liabilities |
$75,000 |
$70,000 |
|
Long-term debt |
80,000 |
90,000 |
|
Common stock |
330,000 |
300,000 |
|
Retained earnings |
275,000 |
225,000 |
|
Total liabilities and stockholder’s equity |
$760,000 |
$685,000 |
LARK CORPORATION
Income Statement
For the Years Ended December 31
|
2010 |
2009 |
|
|
Sales |
$750,000 |
$670,000 |
|
Cost of goods sold |
440,000 |
400,000 |
|
Operating expenses (including income taxes) |
240,000 |
220,000 |
|
Net income |
$70,000 |
$50,000 |
|
Additional information: |
|
|
|
Cash from operating activities |
$87,000 |
$60,000 |
|
Cash used for capital expenditures |
$45,000 |
$38,000 |
|
Dividends paid |
$20,000 |
$15,000 |
|
Average number of shares outstanding |
33,000 |
30,000 |
Compute the following five values and ratios for 2009 and 2010. (Round all ratios to two decimal places, e.g. 17.54 or 6.25 : 1)
Put your answers in the yellow highlighted cells.
Earnings per share.
Working capital
Current ratio
Debt to total assets ratio
Free cash flow