Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

14-9 (similar to) Financial ratios: Liquidity. The financial statements for Tyler Toys, Inc. are shown in the popup window. ! Calculate the current ratio, quick

image text in transcribed
image text in transcribed
14-9 (similar to) Financial ratios: Liquidity. The financial statements for Tyler Toys, Inc. are shown in the popup window. ! Calculate the current ratio, quick ratio, and hareholders? 0 Data Table What is the current ratio for 2014? (Round to four decimal places. Tyler Toys, Inc. Income Statement for Years Ending December 31, 2013 and 2014 2014 2013 Revenue s 14,148.085$ 13,566,404 Cost of goods sold $ -8,448,334,5 -8.132,530 Selling general and administrative expenses S -908,490 -981,930 Depreciation S -1.407.1865 -1,472,305 EBIT S 3,202.087 $ 2.979,830 Interest expense $ -378, 175$ -355,015 Taxes S -1.073,830 -907,364 Net Income $ 1,752,053 5 1,627,261 Right click on the table and select Copy to clipboard and then night-clicle the highlighted texts in the popup dialogue box and select Copy in order to paste its content into readsheet contents into a spreadsheet. Tyler Toys, Inc. Balance Sheet as of December 31, 2013 and 2014 ASSETS 2014 2013 LLABILITIES 2014 2013 Current assets Cash $ 191,028 $ Current liabilities 187,991 Accounts payable 120,168 Short-term debt $ 1,548,9285 1,455,441 Investments $ 180,6215 s 332.935 312,145 5 1,859,0735 $ 830.088 Total current liabilities $ 1,788,376 Accounts receivable Inventory Total current assets 687,880 S 588,8985 $ 1,628,405 S 564.405 Long-term liabilities 1,502,632 Debt Other liabilities S 7,286,49215 $ 1,462,5741 $ Long-term assets Investments 6.603,742 1,346,372 9,738,490 $ 3,053,385 $ 2 827 200 Total liabilities s 10,608,139$ Plant, property, and equipments 8.496.456 S 8.480.158 OWNERS' EQUITY Goodwill 347 578 s S 1.457,8845 1.453,530 $ $ 347 320Common stock 957.660 Retained earnings Intangible assets 1.157.876 S S 2,017,05013 2,923,040 Total owners' equity S 4,075,540 $ 4,376,582 TOTAL LIABILITIES $ TOTAL ASSETS S 14.683,679 14.115,072 AND OWNERS' EQUITY 14.683,679 14.115,072 Right click on the table and select Copy to clipboard and then night-click the highlighted texts in the popup dialogue box and select Copy order to paste its contents into a spreadsheet

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

Students also viewed these Accounting questions