snider corporation balance sheet december 31 2010 assets current assets cash 55 382922

SNIDER CORPORATION Balance Sheet December 31, 2010 Assets Current assets: Cash $ 55,600 Marketable securities 22,000 Accounts receivable (net) 198,000 Inventory 239,000 Total current assets $ 514,600 Investments 62,400 Plant and equipment. 683,000 Less: Accumulated depreciation (216,000) Net plant and equipment 467,000 Total assets $ 1,044,000 Liabilities and Stockholders’ Equity Current liabilities: Accounts payable $ 94,600 Notes payable 72,800 Accrued taxes 12,800 Total current liabilities 180,200 Long term liabilities: Bonds payable 150,400 Total liabilities $ 330,600 Stockholders’ equity Preferred stock, $50 par value 100,000 Common stock, $1 par value 80,000 Capital paid in excess of par 190,000 Retained earnings 343,400 Total stockholders’ equity 713,400 Total liabilities and stockholders’ equity $ 1,044,000 SNIDER CORPORATION Income Statement For the Year Ending December 31, 2010 Sales (on credit) $ 2,009,000 Less: Cost of goods sold 1,354,000 Gross profit 655,000 Less: Selling and administrative expenses 529,000 * Operating profit (EBIT) 126,000 Less: Interest expense 26,800 Earnings before taxes (EBT) 99,200 Less: Taxes 86,400 Earnings after taxes (EAT) $ 12,800 *Includes $37,000 in lease payments. Using the above financial statements for the Snider Corporation, calculate the following ratios. (Enter only numeric values rounded to 2 decimal places. Omit the “%” sign in your response.) (a) Profitability ratios Profitability ratios Profit margin % Return on assets (investment) % Return on equity % (b) Assets utilization ratios Assets utilization ratios Receivable turnover Average collection period days Inventory turnover Fixed asset turnover Total asset turnover (c) Liquidity ratios Liquidity ratios Current ratio Quick ratio (d) Debt utilization ratios Debt utilization ratios Debt to total assets % Times interest earned Fixed charge coverage