Problem 13-2A The comparative statements of Osborne Company are presented here.OSBORNE COMPANYIncome

Problem 13-2A The comparative statements of Osborne Company are presented here.OSBORNE COMPANYIncome StatementsFor the Years Ended December 3120142013Net sales$1,898,458$1,758,418Cost of goods sold1,066,4581,013,918Gross profit832,000744,500Selling and administrative expenses507,918486,918Income from operations324,082257,582Other expenses and losses Interest expense23,13221,132Income before income taxes300,950236,450Income tax expense93,13274,132Net income$ 207,818$ 162,318OSBORNE COMPANYBalance SheetsDecember 31Assets20142013Current assets Cash$ 60,100$ 64,200 Debt investments (short-term)74,00050,000 Accounts receivable125,718110,718 Inventory127,132116,632 Total current assets386,950341,550Plant assets (net)659,029530,329Total assets$1,045,979$871,879Liabilities and Stockholders’ EquityCurrent liabilities Accounts payable$ 167,918$153,318 Income taxes payable44,63243,132 Total current liabilities212,550196,450Bonds payable230,029210,029 Total liabilities442,579406,479Stockholders’ equity Common stock ($5 par)290,000300,000 Retained earnings313,400165,400 Total stockholders’ equity603,400465,400Total liabilities and stockholders’ equity$1,045,979$871,879All sales were on account. Net cash provided by operating activities for 2014 was $239,440. Capital expenditures were $135,170, and cash dividends were $59,818.Compute the following ratios for 2014. (Round all answers to 2 decimal places, e.g. 1.83 or 12.61%.)(a)Earnings per share$(b)Return on common stockholders’ equity %(c)Return on assets %(d)Current ratio :1(e)Accounts receivable turnover times(f)Average collection period days(g)Inventory turnovertimes(h)Days in inventory days(i)Times interest earned times(j)Asset turnover times(k)Debt to assets %(l)Current cash debt coverage times(m)Cash debt coverage times(n)Free cash flow$

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