1. Show how each relevant item would be reported on the Brighton Foods classified balance sheet. Include headings and totals for current liabilities and long-term liabilities. 2. Answer the following questions about Brighton Food's financial position at December 31, 2018: a. What is the carrying amount of the bonds payable (combine the current and long-term amounts)? b. Why is the interest-payable amount so much less than the amount of interest expense? How many times did Brighton Foods cover its interest expense during 2018? Assume that all of the existing liabilities are included in the information provided. Calculate the leverage ratio and debt ratio of the company. Use year-end figures in place of averages where needed for the purpose of calculating ratios in this problem. Evaluate the health of the company from a leverage point of view. Assume the company only has common stock issued and outstanding. What other information would be helpful in making your evaluation? Independent of your answer to (4), assume that Footnote 8 of the financial statements includes commitments for long-term operating leases over the next 15 years in the amount of $3,800,000. If the company had to capitalize these leases in 2018, how would it change the leverage ratio and the debt ratio? How would this impact your assessment of the company's health from a leverage point of view? Print Done 3 of 32 completo) at December 31, 2018: The accounting records of Brighton Foods, Inc., include the following om BEE (Click the loon to view the accounting records.) Read the requirements Total liabilities Total assets - 5300000 = 1299000 Debt ratio 24 Evaluate the health of the company from a leverage point of view. What other information would be helpful in making your evaluation? (Round the ratio to two decimal places.) The company's debt ratio and leverage ratios are low and operating income covers interest payments by times With this limited information, the company appears to be low risk from a leverage point of view. would also be helpful. Requirements. Independent of your answer to (4), assume that Footnote 8 of the financial statements includes commitments for operating lenses over the next 15 years in the leases in 2018, how would it change the leverage ratio and the debt ratio? How would this impact your assessment of the company's health from a leverage point of view? Select the formula and compute the leverage ratio assuming that the company had to capitalize lases amounting to $3,800,000. (Round your answer to two decimal places) - Leverage ratio Select Average common stockholders' equity Average total assets Long-term liabilities Total current assets Total current liabilities ving that the company had to capitalize leases amounting to $3,800,000. (Round your answer to two decimal places) Debt ratio How wo Totalbes to company's health from a leverage point of view? The company would from a leverage point of view. The leverage ratio and debt ratio would Choose from any list or enter any number in the input fields and then continue to the next question Data Table Read the requirements. Total assets Debt ratio Total liabilities 1299000 5300000 = Evaluate the health of the company from a leverage point of view. What other information would be helpful in making your evaluation? (Round the ratio The company's debt ratio and leverage ratios are low With this limited information, the company appears to be times. , and operating income covers interest payments by low risk from a leverage point of view. would also be helpful. Requirement 5. Independent of your answer to (4), assume that Footnote 8 of the financial statements includes commitments for operating leases ove leases in 2018, how would it change the leverage ratio and the debt ratio? How would this impact your assessment of the company's health from a love Select the formula and compute the leverage ratio assuming that the company had to capitalize leases amounting to $3,800,000. (Round your answer Leverage ratio Select the formula and compute the deb mpany had to capitalize leases amounting to $3,800,000. (Round your answer to tu Debt ratio Total current liabilities decrease increase How would this change impact your assi remain the same. Sealth from a leverage point of view? The leverage ratio and debt ratio would || from a leverage point of The company would Choose from any list or enter any number in the input fields and then continue to the next question The counting records of Brighton Foods, Inc., include the following items at December 31, 2018 (Click the icon to view the accounting records.) Read the requirements Total liabilities Total assets - Debt ratio 1299000 5300000 = 24 Evaluate the health of the company from a leverage point of view. What other information would be helpful in making your evaluation? (Round the ratio to two The company's debt ratio and leverage ratios are low With this limited information, the company appears to be times. and operating income covers interest payments by low risk from a leverage point of view. would also be helpful. Requirement 5. Independent of your answer to (4), assume that Footnote 8 of the financial statements includes commitments for operating leases over the ne leases in 2018, how would it change the leverage ratio and the debt ratio? How would this impact your assessment of the company's health from a leverage p Select the formula and compute the leverage ratio assuming that the company had to capitalize leases amounting to $3,800,000. (Round your answer to two = Leverage ratio Select the formula and compute the debt ratio assuming that the company had to d your answer to two deci Total current liabilities / Total assets Debt i now be considered high risk. now be considered really low risk. still be considered healthy (average risk) How would this change impact your assessment of the company's health from all from a leverage point of view. The leverage ratio and debt ratio would The company would Choose from any list or enter any number in the input fields and then continue to the next question. Data Table $ 5,300,000 92,000 * 461,000 325,000 168,000 Mortgage note payable, current portion ... Leases payable (long-term)... Bonds payable, long-term . Mortgage note payable long-term Bonds payable, current portion Interest expense. Total assets....... Accumulated depreciation, equipment Discount on bonds payable (all long-term) .... Operating income........ Equipment.......... Long-term investments (market value) Interest payable. 319,000 50,000 129,000 25,000 400,000 744,000 425,000 77,000 Print Done 5300000 219000 Total current liabilities Long-term liabilities: Leases payable, long-term 425000 461000 ANID 1. Show how each relevant item would be reported on the Brighton Foods classified balance sheet. Include headings and totals for current liabilities and long-term liabilities. 2. Answer the following questions about Brighton Food's financial position at December 31, 2018: a. What is the carrying amount of the bonds payable (combine the current and long-term amounts)? b. Why is the interest-payable amount so much less than the amount of interest expense? How many times did Brighton Foods cover its interest expense during 2018? Assume that all of the existing liabilities are included in the information provided. Calculate the leverage ratio and debt ratio of the company. Use year-end figures in place of averages where needed for the purpose of calculating ratios in this problem. Evaluate the health of the company from a leverage point of view. Assume the company only has common stock issued and outstanding. What other information would be helpful in making your evaluation? Independent of your answer to (4), assume that Footnote 8 of the financial statements includes commitments for long-term operating leases over the next 15 years in the amount of $3,800,000. If the company had to capitalize these leases in 2018, how would it change the leverage ratio and the debt ratio? How would this impact your assessment of the company's health from a leverage point of view? Print Done 3 of 32 completo) at December 31, 2018: The accounting records of Brighton Foods, Inc., include the following om BEE (Click the loon to view the accounting records.) Read the requirements Total liabilities Total assets - 5300000 = 1299000 Debt ratio 24 Evaluate the health of the company from a leverage point of view. What other information would be helpful in making your evaluation? (Round the ratio to two decimal places.) The company's debt ratio and leverage ratios are low and operating income covers interest payments by times With this limited information, the company appears to be low risk from a leverage point of view. would also be helpful. Requirements. Independent of your answer to (4), assume that Footnote 8 of the financial statements includes commitments for operating lenses over the next 15 years in the leases in 2018, how would it change the leverage ratio and the debt ratio? How would this impact your assessment of the company's health from a leverage point of view? Select the formula and compute the leverage ratio assuming that the company had to capitalize lases amounting to $3,800,000. (Round your answer to two decimal places) - Leverage ratio Select Average common stockholders' equity Average total assets Long-term liabilities Total current assets Total current liabilities ving that the company had to capitalize leases amounting to $3,800,000. (Round your answer to two decimal places) Debt ratio How wo Totalbes to company's health from a leverage point of view? The company would from a leverage point of view. The leverage ratio and debt ratio would Choose from any list or enter any number in the input fields and then continue to the next question Data Table Read the requirements. Total assets Debt ratio Total liabilities 1299000 5300000 = Evaluate the health of the company from a leverage point of view. What other information would be helpful in making your evaluation? (Round the ratio The company's debt ratio and leverage ratios are low With this limited information, the company appears to be times. , and operating income covers interest payments by low risk from a leverage point of view. would also be helpful. Requirement 5. Independent of your answer to (4), assume that Footnote 8 of the financial statements includes commitments for operating leases ove leases in 2018, how would it change the leverage ratio and the debt ratio? How would this impact your assessment of the company's health from a love Select the formula and compute the leverage ratio assuming that the company had to capitalize leases amounting to $3,800,000. (Round your answer Leverage ratio Select the formula and compute the deb mpany had to capitalize leases amounting to $3,800,000. (Round your answer to tu Debt ratio Total current liabilities decrease increase How would this change impact your assi remain the same. Sealth from a leverage point of view? The leverage ratio and debt ratio would || from a leverage point of The company would Choose from any list or enter any number in the input fields and then continue to the next question The counting records of Brighton Foods, Inc., include the following items at December 31, 2018 (Click the icon to view the accounting records.) Read the requirements Total liabilities Total assets - Debt ratio 1299000 5300000 = 24 Evaluate the health of the company from a leverage point of view. What other information would be helpful in making your evaluation? (Round the ratio to two The company's debt ratio and leverage ratios are low With this limited information, the company appears to be times. and operating income covers interest payments by low risk from a leverage point of view. would also be helpful. Requirement 5. Independent of your answer to (4), assume that Footnote 8 of the financial statements includes commitments for operating leases over the ne leases in 2018, how would it change the leverage ratio and the debt ratio? How would this impact your assessment of the company's health from a leverage p Select the formula and compute the leverage ratio assuming that the company had to capitalize leases amounting to $3,800,000. (Round your answer to two = Leverage ratio Select the formula and compute the debt ratio assuming that the company had to d your answer to two deci Total current liabilities / Total assets Debt i now be considered high risk. now be considered really low risk. still be considered healthy (average risk) How would this change impact your assessment of the company's health from all from a leverage point of view. The leverage ratio and debt ratio would The company would Choose from any list or enter any number in the input fields and then continue to the next question. Data Table $ 5,300,000 92,000 * 461,000 325,000 168,000 Mortgage note payable, current portion ... Leases payable (long-term)... Bonds payable, long-term . Mortgage note payable long-term Bonds payable, current portion Interest expense. Total assets....... Accumulated depreciation, equipment Discount on bonds payable (all long-term) .... Operating income........ Equipment.......... Long-term investments (market value) Interest payable. 319,000 50,000 129,000 25,000 400,000 744,000 425,000 77,000 Print Done 5300000 219000 Total current liabilities Long-term liabilities: Leases payable, long-term 425000 461000 ANID