Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

1. 2. 3. 4. The comparative balance sheets for are shown below. Comparative Balance Sheets As of 2019 2018 2017 Cash $ 10,030 $ 8,564

1. image text in transcribed image text in transcribed
2.
image text in transcribed image text in transcribed
3.
image text in transcribed
4.
image text in transcribed
The comparative balance sheets for are shown below. Comparative Balance Sheets As of 2019 2018 2017 Cash $ 10,030 $ 8,564 $ 9,992 Accounts receivable 12,471 14,364 11,397 Inventory 79,728 64,902 63,805 Plant assets (net) 31.396 29,529 27.168 Total assets $ 133,625 $ 117,359 $ 112,362 Accounts payable $38,421 $27,724 $25,271 Bonds payable 44,613 35,359 36,001 Common stock 5,061 5,061 5,061 Retained earnings 45,530 49,215 46,022 Total liabilities and equity $ 133,625 $ 117,359 $ 112,362 ave, fill in ith the common-size percentages. 2019 2018 2017 Cash 96 % 9 Accounts receivable % 96 96 Inventory 56 96 96 Plant assets BR TOR por Total assets DOR %% BR Accounts payable % %6 Bonds payable % %6 $ Common stock % %6 Retained earnings % %6 Total liabilities and equity 96 are shown The comparative income statements for below. Comparative Income Statements For the Years Ended 2019 2018 2017 Sales $ 47,007 $ 44,438 $ 41,138 Cost of goods sold 23,328 23,201 20.280 Gross margin 23,679 21,237 20,858 Selling expenses 9,645 9,352 8,602 General and administrative expenses 7,836 6.734 6,756 Net income $ 6,198 $ 5.151 $5.500 o fill in the trend percentages. Trend Analysis 2019 2018 2017 Sales se % % Cost of goods sold % % % Gross margin % % % Selling expenses % % % General and administrative expenses del % % Net income % % sel Calculate the debt to equity ratio for 2019 Balance Sheet 2019 Cash $ 10,030 Accounts receivable 12,471 Inventory 79,728 Plant assets (net) 31,396 Total assets $ 133,625 Accounts payable $38,421 Bonds payable 44,613 Common stock 5,061 Retained earnings 45.530 Total liabilities and equity $ 133,625 Calculate the current ratio Balance Sheet As 2018 Cash $ 8,564 Accounts receivable 14,364 Inventory 64,902 Plant assets (net) 29,529 Total assets $ 117.359 Accounts payable $27,724 Bonds payable 35,359 Common stock 5,061 Retained earnings 49.215 Total liabilities and equity $ 117.359

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

The Internal Auditing Pocket Guide

Authors: J. P. Russell

1st Edition

0873895606, 978-0873895606

More Books

Students also viewed these Accounting questions