Answered step by step
Verified Expert Solution
Question
1 Approved Answer
1.What is ABC Company's return on assets? Give your answer as a percentage to 2 decimal places. 2. What is ABC Company's quick ratio? Give
1.What is ABC Company's return on assets? Give your answer as a percentage to 2 decimal places.
2. What is ABC Company's quick ratio? Give your answer to 2 decimal places.
3. What is ABC Company's return on equity? Give your answer as a percentage to 2 decimal places.
4. What is ABC Company's return on revenue? Give your answer as a percentage to 2 decimal places.
5.What is ABC Company's current ratio? Give answer to 2 decimal places
6. What is ABC Company's working capital?
ABC Company Income Statement 31-Dec-19 ABC Company Balance Sheet 31-Dec-19 $50,000,000 Sales Cost of goods sold Materials Labor Overhead Total cost COGS ($8,000,000) ($11,000,000) ($6,000,000) ($25,000,000) Assets Current Assets Cash and cash equivalents Accounts receivable Inventory Prepaid expenses Investments Total current assets $100,000 $20,000 $15,000 $4,000 $10,000 $149,000 Liabilities and Shareholde's Equity Current Liabilities Accounts payable $30,000 Notes payable $10,000 Accrued expenses $5,000 Deferred revenue $2,000 Total current liabilities $47,000 Gross Margin $25,000,000 Long term debt $200,000 Total Liabilities $247,000 Operating Expenses Selling expenses Administrative expenses Depreciation and amortization Total operating expenses ($9,000,000) ($6,000,000) ($5,000,000) ($20,000,000) Property and Equipment Land Buildings ans improvements Equipment Less accumulated depreciation $24,300 $ $250,000 $50,000 ($5,000) Shareholder's Equity Common stock Additional paid-in capital Retained earnings Treasury stock Net Worth $10,000 $20,000 $197,100 ($2,000) $225,100 Operating Income Other Assets Intangible assets less accumulated amortization $5,000,000 $4,000 ($200) Total Assets $472,100 Total Liabilities and Shareholders Equity $472,100 Other Income and Expenses Interest Revenue Interest Expense Extraordinary Items Total other items and expenses $50,000 ($1,000,000) $2,000,000 $1,050,000 Income Before Tax $6,050,000 Income Tax (35%) ($2,117,500) Net Income $3,932,500Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started