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Business, 18.12.2019 01:31 ereyes181

Problem 13-2a the comparative statements of cullumber company are presented here. cullumber company income statements for the years ended december 31 2017 2016 net sales $1,896,240 $1,756,200 cost of goods sold 1,064,240 1,011,700 gross profit 832,000 744,500 selling and administrative expenses 505,700 484,700 income from operations 326,300 259,800 other expenses and losses interest expense 23,300 21,300 income before income taxes 303,000 238,500 income tax expense 93,300 74,300 net income $ 209,700 $ 164,200 cullumber company balance sheets december 31 assets 2017 2016 current assets cash $ 60,100 $ 64,200 debt investments (short-term) 74,000 50,000 accounts receivable 123,500 108,500 inventory 127,300 116,800 total current assets 384,900 339,500 plant assets (net) 661,000 532,300 total assets $1,045,900 $871,800 liabilities and stockholders’ equity current liabilities accounts payable $ 165,700 $151,100 income taxes payable 44,800 43,300 total current liabilities 210,500 194,400 bonds payable 232,000 212,000 total liabilities 442,500 406,400 stockholders’ equity common stock ($5 par) 290,000 300,000 retained earnings 313,400 165,400 total stockholders’ equity 603,400 465,400 total liabilities and stockholders’ equity $1,045,900 $871,800 all sales were on account. net cash provided by operating activities for 2017 was $238,000. capital expenditures were $135,000, and cash dividends were $61,700. compute the following ratios for 2017

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Problem 13-2a the comparative statements of cullumber company are presented here. cullumber company...

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