The comparative financial statements of Triad Images Inc. ar…
The comparative financial statements of Triad Images Inc. are as follows. The market price of Triad Images Inc. common stock was $55 on December 31, 2008.
Triad Images Inc.
Comparative
retained earnings statement for years ended december 31, 2008 and 2007
dec 31 2008 dec 31 2007
retained earnings January 1 1,006,500 781,500
add net income for year 430,000 277,500
total 1,436,500 1,059,000
deduct dividends on
preferred stock 12,500 12,500
on common stock 40,000 40,000
total 52,500 52,500
retained earnings dec 31 1,384,000 1,006,500
triad images inc.
comparative income statement for years ended december 31, 2008 and 2007
2008 2007
sales 3,005,000 3,062,500
sales returns and allowances 35,000 22,500
net sales 3,360,000 3,040,000
cost of goods sold 1,500,000 1,437,500
gross profit 1,860,000 1,602,500
selling expenses 726,000 718,750
admin expenses 486,000 475,000
total operating expenses 1,212,000 1,193,750
income from operations 648,000 408,750
other income 48,000 37,500
696,000 446,250
other expense
interest 98,000 50,000
income before income tax 598,000 6,250
income tax expense 168,000 118,750
net income 430,000 277,500
TRIAD IMAGES INC. comparative balance sheet december 31 2008 and 2007 2008 2007 assets cash 132,000 120,000 marketable securities 387,000 157,500 accounts receivable net 260,000 196,500 inventories 425,000 332,500 prepaid expenses 27,500 35,000 total current assets 1,231,500 841,500 Long term investments 319,500 250,000 Prop, plant, equip net 2,575,000 2,000,000 Total assets 4,126,000 3,091,500 Liabilities Current Liabilities 342,000 285,000 Long term liabilities mortgage payable, 8% due 2013 600,000 Bonds payable 10%, due 2017 500,000 500,000 Total long term liabilities 1,100,000 500,000 Stockholders Equity Preferred 2.50 stock $100 par 500,000 500,000 common stock $20 par 800,000 800,000 retained earnings 1,384,000 1,006,500 total stockholders equity 2,684,000 2,306,500 Total liabilities stockholder equity4,126,000 3,091,500
Determine the following measures for 2008 rounding to one decimal place:
1. Working capital
2. current ratio
3. quick ratio
4. accounts receivable turnover
5. number of days sales in receivables
6. inventory turnover
7. number of days sales in inventory
8. ratio of fixed assets to long term liabilities
9. ratio of liabilities to stockholders equity
10. number of times interest charges earned
11. number of times preferred dividends earned
12. ratio of net sales to assets
13. rate earned on total assets
14. rate earned on stockholders equity
15. rate earned on common stockholders equity
16. earnings per share on common stock
17. price earnings ratio
18. dividends per share of common stock
19. dividend yield
