The following information pertains to Diane Company. Assume…

The following information pertains to Diane Company. Assume that all balance sheet amounts represent both average and ending balance figures and that all sales were on credit. Assets Cash and short-term investments $30,000 Accounts receivable (net) 20,000 Inventory 15,000 Property, plant, and equipment 185,000 Total Assets $250,000   Liabilities and Stockholders’ Equity Current liabilities $45,000 Long-term liabilities 70,000 Common stock 80,000 Retained earnings 55,000 Total liabilities and stockholders’ equity $250,000   Income Statement Sales $85,000  Cost of goods sold 45,000  Gross margin $40,000  Operating expenses (15,000) Interest expense (5,000) Net income $20,000    Number of shares of common stock outstanding 6,000 Market price of common stock $20 Total dividends paid $9,000 Cash provided by operations $30,000 What is the return on total assets for Diane Company?

Balance sheet and income statement data indicate the followi…

Balance sheet and income statement data indicate the following: Bonds payable, 10% (due in two years) $884,000 Preferred 5% stock, $100 par (no change during year) 203,900 Common stock, $50 par (no change during year) 1,694,400 Income before income tax for year 361,564 Income tax for year 71,952 Common dividends paid 84,720 Preferred dividends paid 10,195 Interest expense 88,400 Based on the data presented, what is the times interest earned ratio? Round your answer to two decimal places.

Department M had 2,400 units 59% completed in process at the…

Department M had 2,400 units 59% completed in process at the beginning of June, 12,600 units completed during June, and 1,600 units 34% completed at the end of June. The number of equivalent units of production for conversion costs for June if the first-in, first-out method is used to cost inventories is