Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

1. Below is selected information from M&M 2020 financial statements: As of Dec. 31, 2020 Dec. 31, 2019 Cash and short-term investments $ 958,245 $

1. Below is selected information from M&M 2020 financial statements:

As of Dec. 31, 2020

Dec. 31, 2019

Cash and short-term investments

$ 958,245

$ 745,800

Accounts Receivable (net)

125,850

135,400

Inventories

195,650

175,840

Prepaid Expenses and other current assets

45,300

30,860

Total Current Assets

$1,325,045

$1,087,900

Plant, Property and Equipment, net

1,478,320

1,358,700

Intangible Assets

125,600

120,400

Total Assets

$2,928,965

$2,567,000

Short-term borrowings

$ 25,190

$ 38,108

Current portion of long-term debt

45,000

40,000

Accounts payable

285,400

325,900

Accrued liabilities

916,722

705,891

Income taxes payable

125,400

115,600

Total Current Liabilities

$1,397,712

$1,225,499

Long-term Debt

450,000

430,000

Total Liabilities

$1,847,712

$1,655,499

Shareholders' Equity

$1,081,253

$ 911,501

Total Liabilities and Shareholders' Equity

$2,928,965

$2,567,000

Selected Income Statement Data - for the year ending December 31, 2020:

Net Sales

$3,210,645

Cost of Goods Sold

(2,310,210)

Operating Income

$ 900,435

Net Income

$ 324,850

Selected Statement of Cash Flow Data - for the year ending December 31, 2020:

Cash Flows from Operations

$584,750

Interest Expense

42,400

Income Tax Expense

114,200

A. M&Ms Liabilities to Assets Ratio for 2020 is:

B. M&Ms 2020 Liabilities to Shareholders Equity ratio is:

C. M&Ms 2020 Long-term Debt to Long-Term Capital ratio is:

D. M&Ms 2020 Long-term Debt to Shareholders Equity ratio is:

E. M&Ms 2020 Interest Coverage ratio is:

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

Options Futures And Other Derivatives

Authors: John C. Hull

7th Edition

0136015867, 9780136015864

More Books

Students also viewed these Finance questions