Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

$ 234,000 $ 163,000 $ 222,000 999,000 749,000 769,000 1,734,000 1,364,000 1,034,000 139,000 109,000 84,000 1,460,000 1,460,000 1,460,000 (690,000) (4907.000) (290,000) $3,876,000 $3,355,000 $3,279,000 Current

image text in transcribed
$ 234,000 $ 163,000 $ 222,000 999,000 749,000 769,000 1,734,000 1,364,000 1,034,000 139,000 109,000 84,000 1,460,000 1,460,000 1,460,000 (690,000) (4907.000) (290,000) $3,876,000 $3,355,000 $3,279,000 Current assets! Cash Accounts receivable Inventory Supplies Long-term assets: Equipment Less: Accumulated depreciation Total assets Liabilities and Stockholders' Equity Current liabilities: Accounts payable Interest payable Income tax payable Long-term liabilities: Notes payable Stockholders' equity! Common stock Retained earnings Total liabilities and stockholders' equity $ 201,100 4,900 49,000 $ 132,000 0 44,000 $ 116,100 4,900 39,000 590,000 590,000 590,000 690,000 2,341,000 $3,876,000 690,000 1,899,000 $3,355,000 690,000 1,839,000 $3,279,000 Required: 1. Calculate the following risk ratios for 2021 and 2022: (Round your answers to 1 decimal place.) 2022 Receivables turnover ratio Inventory turnover ratio Current ratio Debt to equity ratio 2021 13.4 times 5.3 times to 1 % 13.3 times 4.9 times to 1 %

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_2

Step: 3

blur-text-image_3

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Financial Accounting Tools For Business Decision Making

Authors: Paul D. Kimmel

4th Canadian Edition

0470155353, 978-0470155356

More Books

Students also viewed these Accounting questions

Question

Explain how brand licensing differs from co-branding.

Answered: 1 week ago

Question

Statistical regression: Were extreme groups used?

Answered: 1 week ago

Question

How does Disney try to redress prejudice and discrimination?

Answered: 1 week ago