Question
1.Compute the required ratios using the data provided. Use the average of beginning and ending amounts when appropriate 2.Based on ratios table, is your company
1.Compute the required ratios using the data provided. Use the average of beginning and ending amounts when appropriate
2.Based on ratios table, is your company doing better or worse than last year? Explain your answer.
| 2019 | 2018 | |
| 1. Current ratio | ||
| 2. Quick ratio / Acid-test ratio | ||
| 3. Accounts receivable turnover | n/a | |
| 4. Days' sales uncollected | ||
| 5. Equity ratio | ||
| 6. Debt ratio | ||
| 7. Debt-to-equity ratio | ||
| 6. Gross Margin Ratio | ||
| 9. Profit margin ratio | ||
| 10. Total asset turnover | n/a | |
| 11. Return on total assets | n/a | |
| 12. Return on common stockholders' equity | n/a |
income statement
| 2019 | 2018 | $ Change | % Change | |
| Total Revenue | $ 22,428 | $ 21,965 | $ 463 | 2% |
| Operating Expenses | $ 19,471 | $ 18,759 | $ 712 | 4% |
| Operating Income or Loss | $ 2,957 | $ 3,206 | $ (249) | -8% |
| Interest Expense | $ 118 | $ 131 | $ (13) | -10% |
| Capitalized Interest | $ (36) | $ (38) | $ 2 | -5% |
| Interest Income | $ (90) | $ (69) | $ (21) | 30% |
| Other (gains) losses, net | $ 8 | $ 18 | $ (10) | -56% |
| Net Income from Continuing Operations | $ - | $ 42 | $ (42) | -100% |
| Non-recurring Events | $ 657 | $ 699 | $ (42) | -6% |
| Net Income | $ 2,300 | $ 2,465 | $ (165) | -7% |
| *all numbers in thousands. | ||||
BALANCE SHEET
| 2019 | 2018 | Common Size % 2018 | Common Size % 2017 | |
| Cash and Cash Equivalents | $ 2,548 | $ 1,854 | 9.84% | 7.06% |
| ST Investments | $ 1,524 | $ 1,835 | 5.89% | 6.99% |
| Accounts and Other Receivables | $ 1,086 | $ 568 | 4.19% | 2.16% |
| Inventory | $ 529 | $ 461 | 2.04% | 1.76% |
| Prepaid Expenses | $ 287 | $ 310 | 1.11% | 1.18% |
| Total Current Assets | $ 5,974 | $ 5,028 | 23.07% | 19.16% |
| Flight Equipment | $ 21,629 | $ 21,753 | 83.53% | 82.89% |
| Ground Property & Equipment | $ 5,672 | $ 4,960 | 21.90% | 18.90% |
| Deposits on Flight Equipment | $ 248 | $ 775 | 0.96% | 2.95% |
| Assets constructed for others | $ 164 | $ 1,768 | 0.63% | 6.74% |
| Less Allowance for Depreciation | $ 10,688 | $ 9,731 | 41.27% | 37.08% |
| Goodwill | $ 970 | $ 970 | 3.75% | 3.70% |
| Other Assets | $ 1,926 | $ 720 | 7.44% | 2.74% |
| Total Assets | $ 25,895 | $ 26,243 | 100.00% | 100.00% |
| Total Current Liabilities | $ 8,952 | $ 7,905 | 34.57% | 30.12% |
| Long Term Debt | $ 1,846 | $ 2,771 | 7.13% | 10.56% |
| Other Liabilities | $ 1,684 | $ 650 | 6.50% | 2.48% |
| Deferred Long Term Liability Charges | $ 2,364 | $ 2,427 | 9.13% | 9.25% |
| Minority Interest | $ 1,053 | $ 936 | 4.07% | 3.57% |
| Negative Goodwill | $ 164 | $ 1,701 | 0.63% | 6.48% |
| Total Liabilities | $ 16,063 | $ 16,390 | 62.03% | 62.45% |
| Total Stockholders Equity | $ 9,832 | $ 9,853 | 37.97% | 37.55% |
| *all numbers in thousands |
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Working Papers Volume 1 For Needles/Powers/Crossons Financial And Managerial Accounting 8th
Authors: Belverd E. Needles
8th Edition
0618777237, 978-0618777235
