Vogue Companys condensed financial statements provide the following information. Instructions (a) Determine the following for 2012. (1)
Question:
Vogue Company’s condensed financial statements provide the following information.
Instructions
(a) Determine the following for 2012.
(1) Current ratio at December 31.
(2) Acid-test ratio at December 31.
(3) Accounts receivable turnover.
(4) Inventory turnover.
(5) Rate of return on assets.
(6) Profit margin on sales.
(b) Prepare a brief evaluation of the financial condition of Vogue Company and of the adequacy of its profits.
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a 1 Current ratio at December 31 Current Ratio Current Assets Current Liabilities Current Ratio 547000 240000 Current Ratio 228 2 Acidtest ratio at De...View the full answer
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