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The comparative financial statements of Ryan Express, Inc are as follows. The market price of Ryan Express stock was $111.80 on December 31, 2020.
2020 | 2019 | |
---|---|---|
Retained Earnings, January 1 | $5,374,000 | $4,544,000 |
Add net income for the year | 916,000 | 910,000 |
Total | 6,290,000 | 5,454,000 |
Deduct Dividends | ||
On preferred stock | 51,000 | 45,000 |
On common stock | 56,000 | 45,000 |
Total | 107,000 | 90,000 |
Retained Earnings, December 31 | $6,183,000 | $5,364,000 |
2020 | 2019 | |
---|---|---|
Sales (all on account) | $10,043,000 | $9,449,000 |
Sales Returns & Allowances | 47,000 | 42,000 |
Net Sales | 9,996,000 | 9,407,000 |
Cost of Goods Sold | 5,352,000 | 4,947,000 |
Gross Profit | 9,996,000 | 4,460,000 |
Selling Expense | 2,010,000 | 1,876,000 |
Administrative Expense | 1,490,000 | 1,409,000 |
Total Operating Expenses | 3,500,000 | 3,285,000 |
Income from operations | 1,155,000 | 1,162,000 |
Other Income | 158,000 | 134,000 |
Total Operating Income | 1,313,000 | 1,296,000 |
Other expenses (interest) | 160,000 | 154,000 |
Income before taxes | 1,153,000 | 1,142,000 |
Income tax expense | 237,000 | 232,000 |
Net Income | $916,000 | $910,000 |
Description | Amount |
---|---|
Subcategory,Assets | |
Cash | 505,000 |
Marketable securities | 1,012,000 |
Accounts Receivable (net) | 744,000 |
Merchandise Inventory | 1,203,000 |
Prepaid Expense | 253,000Single line |
Total Current Assets | Single line3,717,000 |
Long-term investments | 2,342,000 |
Property, Plant & Equip. | 3,748,000Single line |
TOTAL ASSETS | Single line9,807,000Double line |
Subcategory,Liabilities | |
Total Current Liab. | 905,000 |
Subcategory,Long-term Liabilities: | |
Mortgage note payable due 2020 | 202,000 |
Bonds Payable, 10% due 2019 | 1,504,000Single line |
Total Long-term Liab. | Single line1,706,000Single line |
Total Liabilities | Single line2,611,000 |
Subcategory,Stockholders' Equity | |
Preferred $0.90 stock, $10 par | 513,000 |
Common Stock, $5 par | 503,000 |
Retained Earnings | 6,183,000Single line |
Total Stockholders Equity | Single line7,199,000Single line |
TOTAL LIAB + EQUITY | Single line9,810,000Double line |
Description | Amount |
---|---|
Subcategory,Assets | |
Cash | 390,000 |
Marketable securities | 994,000 |
Accounts Receivable (net) | 509,000 |
Merchandise Inventory | 945,000 |
Prepaid Expense | 219,000Single line |
Total Current Assets | Single line3,057,000 |
Long-term investments | 2,314,000 |
Property, Plant & Equip. | 3,362,000Single line |
TOTAL ASSETS | Single line8,733,000Double line |
Subcategory,Liabilities | |
Total Current Liab. | 870,000 |
Subcategory,Long-term Liabilities: | |
Mortgage note payable due 2020 | 0 |
Bonds Payable, 10% due 2019 | 1,494,000Single line |
Total Long-term Liab. | Single line1,494,000Single line |
Total Liabilities | Single line2,364,000 |
Subcategory,Stockholders' Equity | |
Preferred $0.90 stock, $10 par | 499,000 |
Common Stock, $5 par | 495,000 |
Retained Earnings | 5,364,000Single line |
Total Stockholders Equity | Single line6,358,000Single line |
TOTAL LIAB + EQUITY | Single line8,722,000Double line |
Using the information from Ryan Express, Inc. financial statements, compute the following for 2020:
- Working Capital = $
- Current Ratio =
- Quick Ratio =
- Accounts Receivable turnover =
- Number of day's sales in receivables =
- Inventory turnover =
- Number of days' sales in inventory =
- Rate earned on common stockholder's equity = %
- Earnings per share on common stock = $
- Price-earnings ratio =
2812000
4.107182320442
2.4983425414365
15.95530726257
22.876400560224
4.9832402234637
73.245515695067
13.867357512953
8.646421471173
12.930204752653