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LANDWEHR CORPORATION Balance Sheets December 31 2018 2017 2016 Cash $ 19,000 $ 26,000 $ 18,000 Accounts receivable (net) 50,000 43,000 46,000 Other
LANDWEHR CORPORATION
Balance Sheets
December 31
2018
2017
2016
Cash
$ 19,000
$ 26,000
$ 18,000
Accounts receivable (net)
50,000
43,000
46,000
Other current assets
85,000
92,000
63,000
Investments
73,000
68,000
45,000
Plant and equipment (net)
400,000
370,000
358,000
$627,000
$599,000
$530,000
Current liabilities
$73,000
$79,000
$70,000
Long-term debt
75,000
85,000
50,000
Common stock, $10 par
340,000
310,000
300,000
Retained earnings
139,000
125,000
110,000
$627,000
$599,000
$530,000
LANDWEHR CORPORATION
Income Statement
For the Years Ended December 31
2018
2017
Sales revenue
$740,000
$700,000
Less: Sales returns and allowances
40,000
50,000
Net sales
700,000
650,000
Cost of goods sold
420,000
400,000
Gross profit
280,000
250,000
Operating expenses (including income taxes)
235,000
220,000
Net income
$ 45,000
$ 30,000
Additional information:
1.
The market price of Landwehr's common stock was $4, $5, and $8 for 2016, 2017, and 2018, respectively.2.
All dividends were paid in cash.
(a)
Compute the following ratios for 2017 and 2018. (Round Earnings per share to 2 decimal places, e.g. 1.65, and all other answers to 1 decimal place, e.g. 6.8 or 6.8%.)
2017
2018
(1)
Profit margin
%
%(2)
Asset turnover
times
times(3)
Earnings per share. (Weighted-average common shares in 2018 were 32,000
and in 2017 were 31,000.)
$
$
(4)
Price-earnings ratio
times
times(5)
Payout ratio
%
%(6)
Debt to assets ratio
%
%
