Assignment Task: Hyrkas Corporation's most recent balance sheet and income statement appear below:
Statement of Financial Position December 31, Year 2 and Year 1 (in thousands of dollars)
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Year 2
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Year 1
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Asset:
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Current assets:
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Cash
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$120
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$130
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Accounts receivable
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230
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240
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Inventory
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130
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120
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Prepaid expenses
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25
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25
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Total current assets
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505
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515
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Plant and equipment, net
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888
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868
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Total assets
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$1,393
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$1,383
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Liabilities and stockholders' equity:
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Current liabilities:
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Accounts payable
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$180
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$170
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Accrued liabilities
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70
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70
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Notes payable, short term
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120
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130
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Total current liabilities
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370
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370
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Bonds payable
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210
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260
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Total liabilities
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580
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630
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Stockholders' equity:
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Common stock, $1 par value
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100
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100
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Additional paid-in capital-common stock
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110
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110
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Retained earnings
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603
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555
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Total stockholders' equity
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813
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765
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Total liabilities and stockholders' equity
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$1,393
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$1,395
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Income Statement for the Year Ended December 31, Year 2 (in thousands of dollars)
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Sales (all on account)
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$1,440
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Cost of goods sold
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872
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Gross margin
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568
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Selling and administrative expenses
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372
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Net operating income
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196
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Interest expense
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53
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Net income before taxes
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143
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Income taxes (30%)
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43
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Net income
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$100
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Dividends on common stock during Year 2 totaled $30 thousand. The market price of common stock at the end of Year 2 was $9.28 per share.
Required:
a. Compute the gross margin percentage for Year 2.
b. Compute the earnings per share (of common stock) for Year 2.
c. Compute the price-earnings ratio for Year 2.
d. Compute the dividend payout ratio for Year 2.
e. Compute the dividend yield ratio for Year 2.
f. Compute the return on total assets for Year 2.
g. Compute the return on common stockholders' equity for Year 2.
h. Compute the book value per share for Year 2.
i. Compute the working capital for Year 2.
j. Compute the current ratio for Year 2.
k. Compute the acid-test ratio for Year 2.
l. Compute the accounts receivable turnover for Year 2.
m. Compute the average collection period for Year 2.
n. Compute the inventory turnover for Year 2.
o. Compute the average sale period for Year 2
p. Compute the times interest earned for Year 2.
q. Compute the debt-to-equity ratio for Year 2.
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