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) Year 2Year 1  Asset:      Current assets:      Cash$140 $150   Accounts receivable 250  260   Inventory 150  140   Prepaid expenses 15  15   

  Total current assets 555  565   Plant and equipment, net 956  936   

  Total assets$1,511 $1,501   

  Liabilities and stockholders’ equity:      Current liabilities:      Accounts payable$200 $190   Accrued liabilities 90  90   Notes payable, short term 140  150   

  Total current liabilities 430  430   Bonds payable 230  280   

  Total liabilities 660  710   

  Stockholders’ equity:      Common stock, $1 par value 100  100   Additional paid-in capital–common stock 110  110   Retained earnings 641  565   

  Total stockholders’ equity 851  775   

  Total liabilities and stockholders’ equity$1,511 $1,485   

Income Statement

For the Year Ended December 31, Year 2

(in thousands of dollars)  Sales (all on account)$1,370   Cost of goods sold 854   

  Gross margin 516   Selling and administrative expenses 253   

  Net operating income 263   Interest expense 35   

  Net income before taxes 228   Income taxes (30%) 68   

  Net income$160   

Dividends on common stock during Year 2 totaled $60 thousand. The market price of common stock at the end of Year 2 was $9.40 per share.

Required:a.Compute the gross margin percentage for Year 2. (Round your answer to one decimal place. e.g. 0.1234 = 12.3%.)

b.Compute the earnings per share (of common stock) for Year 2. (Round your answer to 2 decimal places.)

c.Compute the price-earnings ratio for Year 2. (Do not round intermediate calculations. Round your answer to one decimal place.)

d.Compute the dividend payout ratio for Year 2.(Do not round intermediate calculations. Round your answer to one decimal place. e.g. 0.1234 = 12.3%.)

e.Compute the dividend yield ratio for Year 2. (Round your answer to 2 decimal places. e.g. 0.1234 = 12.34%.)

f.Compute the return on total assets for Year 2. (Do not round intermediate calculations. Round your answer to 2 decimal places. e.g. 0.1234 = 12.34%.)

g.Compute the return on common stockholders’ equity for Year 2.(Round your answer to 2 decimal places. e.g. 0.1234 = 12.34%.)

h.Compute the book value per share for Year 2. (Round your answer to 2 decimal places.)

i.Compute the working capital for Year 2.(Input your answer in thousands of dollars, e.g. $100,000 is 100.)

j.Compute the current ratio for Year 2. (Round your answer to 2 decimal places.)

k.Compute the acid-test ratio for Year 2. (Round your answer to one decimal place.)

l.Compute the accounts receivable turnover for Year 2. (Round your answer to 2 decimal places.)

m.Compute the average collection period for Year 2. (Use 365 days in a year. Do not round intermediate calculations. Round your answer to one decimal place.)

n.Compute the inventory turnover for Year 2. (Round your answer to 2 decimal places.)

o.Compute the average sale period for Year 2. (Use 365 days in a year. Do not round intermediate calculations. Round your answer to one decimal place.)

p.Compute the times interest earned for Year 2. (Round your answer to 2 decimal places.)

q.Compute the debt-to-equity ratio for Year 2. (Round your answer to 2 decimal places. e.g. 0.1234 = 0.12)

 

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