Statement of Income and Retained Earnings For the Years Ended December 31 2012 2

Question

Statement of Income and Retained Earnings
For the Years Ended December 31
2012 2011
Revenues
Sales (net) $230,000 $210,000
Other revenues 8,000 5,000
Total revenues 238,000 215,000
Expenses 120,000 103,000
Selling, general, and administrative expenses 55,000 50,000
Interest expense 8,000 7,200
Income tax expense 23,000 22,000
Total expenses 206,000 182,200
Net earnings (net income) 32,000 32,800
Retained earnings, January 1 108,000 83,000
Less: Preferred stock dividends 2,800 2,800
Common stock dividends 5,000 5,000
Retained earnings, December 31 $132,000 $108,000

Use the financial statements for Bernard Company from problem 9-22 to calculate the4 following for 2012 amd 2011.
a. Accounts receivable turnover (beginning receivables at January 1, 2011, were $47,000)
b Average number of days to sell inventory,

c. Times interest earned

d. Plant assets to long-term debt

e. Asset turnover

f. Quick ratio

g. Earnings per share

h. Book value per share of common stock

i. Divided yield on common stock

Explanation / Answer

2012 2011 Sales 230000 210000 Other 8000 5000 Total Revenue 238000 215000 Expenses 120000 103000 Selling 55000 50000 interest 8000 7200 Tax expense 23000 22000 total expense 206000 182200 Net earnngs 32000 32800 Retained eanings 108000 83000 Pref. Stock Div. 2800 2800 Comm. Stock Div. 5000 5000 Closing R/Earnings 132200 108000 Heyy dear, no figures relating to balance sheet. Please co-operate in this regard. Please rate this & re-post the question.

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