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Excel 2003

Acc300 Principles of Accounting: P2-6A Condensed balance sheet and income statement data for Sievert Corporation

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Acc300 Principles of Accounting

Week 4 Assignment

P2-6A                   

Condensed balance sheet and income statement data for Sievert Corporation are presented here and on the next page.

SIEVERT CORPORATION

Balance Sheets

31-Dec

Assets    2012       2011

Cash       28,000  20,000

Receivables (net)              70,000  62,000

Other current assets       90,000  73,000

Long-term investments                 62,000  60,000

Plant and equipment (net)          510,000                 470,000

Total assets        760,000                 685,000

Liabilities and Stockholders’ Equity

Current liabilities               75,000  70,000

Long-term debt                 80,000  90,000

Common stock  330,000                 300,000

Retained earnings           275,000                 225,000

Total liabilities and stockholders’ equity                  760,000                 685,000

SIEVERT CORPORATION

Income Statements

For the Years Ended December 31

2012        2011

Sales       750,000                 680,000

Cost of goods sold            440,000                 400,000

Operating expenses (including income taxes)      240,000                 220,000

Net income         70,000  60,000

Additional information:

Cash from operating activities     82,000  56,000

Cash used for capital expenditures           45,000  38,000

Dividends paid  20,000  15,000

Average number of shares outstanding                  33,000  30,000

Instructions

Compute these values and ratios for 2011 and 2012.

(a) Earnings per share.

(b) Working capital.

(c) Current ratio.

(d) Debt to total assets ratio.

(e) Free cash flow.

(f ) Based on the ratios calculated, discuss briefly the improvement or lack thereof in financial position and operating results from 2011 to 2012 of Sievert Corporation

 

 

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