1 Paul Sabih organized Sabin Electronics 10 years ago to produce and sell several electronic devices on which he had secured patients Although the company has been fairly profitable, it is now experiencing a severe cash shortage. For this reasons $560,000 long term loan from Gulfport State Bank $130.000 of which will be used to bolster the cash account and SC10,000 of which will be used to moderntre equipment. The companys financial statements for the two most recent years foow . ou Domparative $9,000 14.00 DOM 555,000 1.005.000 210,000 360,000 65,000 70.000 1.277.000 3,830.000 12.711,000 1.680.00 1.665.00 $3,45,400 Cross Markable Mecounts receivable Prepaia Total current plant and uit. Totalt Llabila and Stockholders buity Llabile Current Liabilities Bonds payable Total liabilities tokholdecat uit Common Stoke 15 par Metained Total stockholderswity Total Habilities and stockholder ty ce . 800.000 900.000 430,000 900.000 100 750.000 365.400 750.000 547.000 ...co 13.927.000 Sabit Tectronice Balo coat of good old Cromargin Bell and talep Se operating hoone TER $3.300.000 14.530.000 1,025,000 2.310.000 63.000 700,000 $10.000 VO Nad > MacBook Air + S.O PRE 6 $ 4 % 5 8 7 2 6 9 3 o 8 Q W E R T Y U 0 4 S D F G L . J K Check 1 810,000 900,000 1.730.000 1 490,000 300,000 190.000 Current abilis Donde payable, 12 Total abilities stockholde equity Coman stock015 par Retained ning Total stockholders' alty Total Itabilities and stockholdere quity 15 boints 950.000 567,000 750,000 565,400 1.615.400 3,345,400 3,707,000 000 ab eo Comparative Income statement and collation The Year Last Year 15,300,000 $4,530,000 cost of goods sold 1,235,000 3.510,000 Drone margin Belling and administrative expenses 1.365.000 1.020,000 665.000 560.000 Nat operating Income 700,000 460,000 Interest expenso 100,000 100,000 Net Inco become taxes 592,000 352.000 Thoone taxes (301) 127.500 105,600 Not Income 434,400 206,600 Common dividende 116,000 95.000 Net Income retained 20,400 251,400 Beginning retained ning 567.00 1,600 Ending retained earning $ 065,400 1567.000 rences During the past year, the company introduced several new product lines and raised the selling prices on a number of old product lines In order to improve its profit margin. The company also hired a new soles manager, who has expanded sales into several new territories Sales terms are 2/10,n/30. All sales are on account Required: 1. To assist in approaching the bank about the loan, Paul has asked you to compute the following ratios for both this year and last year. a. The amount of working capital b. The current ratio c. The acid test ratio d. The average collection period. (The accounts receivable at the beginning of last year totaled $310.000) e. The average sale period. (The inventory at the beginning of last year totaled $560,000 Not to retained Beginning retained earnings Tading retained earnings 990,400 567,000 165,400 151,400 415,600 15 points 01:50 BOR During the past year, the company introduced several new product lines and raised the selling prices on a number of old product lines In order to improve its profit margin. The company also hired a new sales manager, who has expanded sales into several new territories, Sales terms are 2/10, 1/30. All soles are on account Required: 1. To assist in approaching the bank about the lon, Paul has asked you to compute the following ratios for both this year and test year a. The amount of working capital b. The current ratio. c. The acid-test ratio. d. The average collection period, (The accounts receivable at the beginning of last year totaled $310,000) e. The average sale period. (The inventory at the beginning of last year totaled $560,000) 1. The operating cycle. 9. The total asset turnover (The total assets at the beginning of last year were $2,600,000) h. The debt to equity ratio The times interest eamed ratio. J. The equity multiplier (The total stockholders' equlty at the beginning of last year totaled $1307000) 2. For both this year and last year: a. Present the balance sheet in common-size format b. Present the income statement in common site format down through net income Pint References Complete this question by entering your answers in the tabs below. Rea 1 Red 2A Reg 20 Present the income statement in common-sire format down through net income. (Found your statemala Sabin Electronice Chi Rog1 Reg 2 Reg 28 To assist in approaching the bank about the loan, Paul has asked you to compute the following is for both this year and last year 15 points 201328 eBook a. The artigunt of working capital b. The current ratio. (Round your answers to 2 decimal places) c. The acid-test ratio (Round your answers to 2 decimal places) d. The average collection period. (The accounts receivable at the beginning of last year totaled $10,000.) (und your intermediate calculations and finalwers to 2 decimal place 365 days in a year) e. The average sale period. (The inventory at the beginning of last year totaled 5560,000) (Round your inte calculations and no answers to 2 decimal place. Use 365 days in a year) f. The operating cycle. (Round your intermediate calculation and final answers to 2 decimal 365 dinya 9. The total asset turnover. (The total assets at the beginning of last year were $2,600,000.) (round your art 2 decimal places.) h. The debt-to-equity ratio. (Round your answers to 2 decimal places) 1. The times interest eamed ratio (Round your answers to 2 decimal places) 1. The equity multiplier. (The total stockholders' equity at the beginning of last year totaled 51,307,000.) (Round your answers to 2 decimal places.) Show less Peint References This Year a. Working capital b Current ratio o Acid-test ratio d. Average collection period o Average le period Operating cycle Total saturnover Debt-to-equity ratio Times interest med ratio Equity multiplier days days caye days days days en M La 1 Req 1 Rudi za Reg 28 Present the balance sheet in common-size format. (Round your answers to 1 decimal place.) 15 points 8 01:13:17 Last Your eBook Print 0.0 References Sabin Elogtronics Common Size Balance Sheets This Your Assets Current assets: Cash Marketable securities Accounts receivable, net Inventory Prepaid expenses Total current assets 0.0 Plant and equipment, net Total assets 0.0 % Liabilities and Stockholders' Equity Llabdities: Current liabilities Bonds payable, 12% Total liabilities 0.0 Stockholders' equity Common stock, S15 par Retained earnings Total stockholders' equity Total liabilities and equity 0.0 % 0.01% % 0.0 0.0 0.0 0.01% M 1 Complete this question by entering your answers in the tabs below. 15 points Reg 1 Reg 2A Reg 28 Present the income statement in common-size format down through net income. (Round your answers to 1 decim 01:13:03 Last Year Book % 0.0 Print Sabin Electronics Common-Size Income Statements This Year Sales Cost of goods sold Gross margin 0.0 Selling and administrative expenses Net operating income 0.0 Interest expense Not income before taxes Income taxes Net income 0.0 % 0.0 References 0.0 0.0 0.0 % MacBook Air + S.O PRE 6 $ 4 % 5 8 7 2 6 9 3 o 8 Q W E R T Y U 0 4 S D F G L . J K Check 1 810,000 900,000 1.730.000 1 490,000 300,000 190.000 Current abilis Donde payable, 12 Total abilities stockholde equity Coman stock015 par Retained ning Total stockholders' alty Total Itabilities and stockholdere quity 15 boints 950.000 567,000 750,000 565,400 1.615.400 3,345,400 3,707,000 000 ab eo Comparative Income statement and collation The Year Last Year 15,300,000 $4,530,000 cost of goods sold 1,235,000 3.510,000 Drone margin Belling and administrative expenses 1.365.000 1.020,000 665.000 560.000 Nat operating Income 700,000 460,000 Interest expenso 100,000 100,000 Net Inco become taxes 592,000 352.000 Thoone taxes (301) 127.500 105,600 Not Income 434,400 206,600 Common dividende 116,000 95.000 Net Income retained 20,400 251,400 Beginning retained ning 567.00 1,600 Ending retained earning $ 065,400 1567.000 rences During the past year, the company introduced several new product lines and raised the selling prices on a number of old product lines In order to improve its profit margin. The company also hired a new soles manager, who has expanded sales into several new territories Sales terms are 2/10,n/30. All sales are on account Required: 1. To assist in approaching the bank about the loan, Paul has asked you to compute the following ratios for both this year and last year. a. The amount of working capital b. The current ratio c. The acid test ratio d. The average collection period. (The accounts receivable at the beginning of last year totaled $310.000) e. The average sale period. (The inventory at the beginning of last year totaled $560,000 Not to retained Beginning retained earnings Tading retained earnings 990,400 567,000 165,400 151,400 415,600 15 points 01:50 BOR During the past year, the company introduced several new product lines and raised the selling prices on a number of old product lines In order to improve its profit margin. The company also hired a new sales manager, who has expanded sales into several new territories, Sales terms are 2/10, 1/30. All soles are on account Required: 1. To assist in approaching the bank about the lon, Paul has asked you to compute the following ratios for both this year and test year a. The amount of working capital b. The current ratio. c. The acid-test ratio. d. The average collection period, (The accounts receivable at the beginning of last year totaled $310,000) e. The average sale period. (The inventory at the beginning of last year totaled $560,000) 1. The operating cycle. 9. The total asset turnover (The total assets at the beginning of last year were $2,600,000) h. The debt to equity ratio The times interest eamed ratio. J. The equity multiplier (The total stockholders' equlty at the beginning of last year totaled $1307000) 2. For both this year and last year: a. Present the balance sheet in common-size format b. Present the income statement in common site format down through net income Pint References Complete this question by entering your answers in the tabs below. Rea 1 Red 2A Reg 20 Present the income statement in common-sire format down through net income. (Found your statemala Sabin Electronice Chi Rog1 Reg 2 Reg 28 To assist in approaching the bank about the loan, Paul has asked you to compute the following is for both this year and last year 15 points 201328 eBook a. The artigunt of working capital b. The current ratio. (Round your answers to 2 decimal places) c. The acid-test ratio (Round your answers to 2 decimal places) d. The average collection period. (The accounts receivable at the beginning of last year totaled $10,000.) (und your intermediate calculations and finalwers to 2 decimal place 365 days in a year) e. The average sale period. (The inventory at the beginning of last year totaled 5560,000) (Round your inte calculations and no answers to 2 decimal place. Use 365 days in a year) f. The operating cycle. (Round your intermediate calculation and final answers to 2 decimal 365 dinya 9. The total asset turnover. (The total assets at the beginning of last year were $2,600,000.) (round your art 2 decimal places.) h. The debt-to-equity ratio. (Round your answers to 2 decimal places) 1. The times interest eamed ratio (Round your answers to 2 decimal places) 1. The equity multiplier. (The total stockholders' equity at the beginning of last year totaled 51,307,000.) (Round your answers to 2 decimal places.) Show less Peint References This Year a. Working capital b Current ratio o Acid-test ratio d. Average collection period o Average le period Operating cycle Total saturnover Debt-to-equity ratio Times interest med ratio Equity multiplier days days caye days days days en M La 1 Req 1 Rudi za Reg 28 Present the balance sheet in common-size format. (Round your answers to 1 decimal place.) 15 points 8 01:13:17 Last Your eBook Print 0.0 References Sabin Elogtronics Common Size Balance Sheets This Your Assets Current assets: Cash Marketable securities Accounts receivable, net Inventory Prepaid expenses Total current assets 0.0 Plant and equipment, net Total assets 0.0 % Liabilities and Stockholders' Equity Llabdities: Current liabilities Bonds payable, 12% Total liabilities 0.0 Stockholders' equity Common stock, S15 par Retained earnings Total stockholders' equity Total liabilities and equity 0.0 % 0.01% % 0.0 0.0 0.0 0.01% M 1 Complete this question by entering your answers in the tabs below. 15 points Reg 1 Reg 2A Reg 28 Present the income statement in common-size format down through net income. (Round your answers to 1 decim 01:13:03 Last Year Book % 0.0 Print Sabin Electronics Common-Size Income Statements This Year Sales Cost of goods sold Gross margin 0.0 Selling and administrative expenses Net operating income 0.0 Interest expense Not income before taxes Income taxes Net income 0.0 % 0.0 References 0.0 0.0 0.0 %