Financial Statement Analysis
The following information relates to Harris Corporation.
|
Account
|
Current year
|
Prior year
|
|
Net sales (all credit)
|
$520,125
|
$499,500
|
|
Cost of goods sold
|
$375,960
|
$353,600
|
|
Gross profit
|
$144,165
|
$145,900
|
|
Income from operations
|
$ 95,500
|
$ 79,900
|
|
Interest expense
|
$ 23,500
|
$ 19,500
|
|
Net income
|
$ 57,600
|
$ 51,600
|
|
Cash
|
$ 30,600
|
$ 15,900
|
|
Accounts receivable, net
|
$ 33,800
|
$ 23,200
|
|
Inventory
|
$ 42,000
|
$ 30,300
|
|
Prepaid expenses
|
$ 2,000
|
$ 1,500
|
|
Total current assets
|
$ 108,400
|
$ 70,900
|
|
Total long-term assets
|
$ 62,000
|
$ 38,000
|
|
Total current liabilities
|
$ 46,000
|
$ 41,600
|
|
Total long-term liabilities
|
$ 20,000
|
$ 22,700
|
|
Common stock, no par, 3,000 shares, value $50/share
|
$ 30,000
|
$ 30,000
|
Required:
- What is the acid-test ratio for the current year?
- What is the inventory turnover for the current year?
- What is days' sales in receivables for the current year?
- What is the book value per share of common stock for the current year?
- What is the price-earnings ratio for the current year?
- What is the rate of return on total assets for the current year?
- What is the times-interest-earned ratio for the current year?
- What is the current ratio for the current year?