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P2-6A Condensed balance sheet and income statement data for Sievert Corporation are presented here and on the next page.
P2-6A Condensed balance sheet and income statement data for Sievert Corporation are presented here and on the next page.SIEVERT CORPORATION Balance SheetsDecember 31 Assets (year) 2012 2011Cash $ 28,000 (2012 year) $ 20,000 (2011 year)Receivables (net) 70,000 (2012 year) 62,000 (2011 year)Other current assets 90,000 (2012 year) 73,000 (2011 year)Long-term investments 62,000 (2012 year) 60,000 (2011 year)Plant and equipment (net) 510,000 (2012 year) 470,000 (2011 year)Total assets $760,000 (2012 year) $685,000 (2011 year)Liabilities and Stockholders’ EquityCurrent liabilities $ 75,000 (2012 year) $ 70,000 (2011 year)SIEVERT CORPORATIONIncome StatementsFor the Years Ended December 31 2012 2011Sales $750,000 (2012 year) $680,000 (2011 year)Cost of goods sold 440,000 (2012 year) 400,000 (2011 year)Operating expenses (including income taxes) 240,000 (2012 year) 220,000 (2011 year)Net income $ 70,000 (2012 year) $ 60,000 (2011 year)Additional information:Cash from operating activities $82,000 (2012 year) $56,000 (2011 year)Cash used for capital expenditures $45,000 (2012 year) $38,000 (2011 year)Dividends paid $20,000 (2012 year) $15,000 (2011 year)Average number of shares outstanding 33,000 (2012 year) 30,000 (2011 year)Compute and interpret liquidity, solvency, and profitability ratios.(SO 2, 4, 5), AP InstructionsCompute these values and ratios for 2011 and 2012.A.
