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5. Suppose you want to buy a new house. You currently have $15,000 and you figure you need to have a 10% down payment. If
5. Suppose you want to buy a new house. You currently have $15,000 and you figure you need to have a 10% down payment. If the type of house you want costs about $200,000 and you can earn 7.5% per year, how long will it be before you have enough money for the down payment? . 1. From the following financials prepare the ratios listed below: Balance Sheet as 31" December 2019 Current Assets Current Liabilities Cash 24,255 Accounts Payable 27,420 Accounts Receivables 15,235 Notes Payable 10.800 Inventory 27,155 Others 15,553 Total 66,645 Total 53.773 Fixed Assets Long Term Debt 95,000 Plant & Equipment 365,734 Owner's Equity 40,000 Retained Earnings 243,606 Total 283,606 Total Assets 432,379 Total Liabilities + OE 432,379 Income Statement Sales 366,996 Cost of Goods sold 253,122 Depreciation 32,220 EBIT 81,654 Interest Paid 14,300 Taxable income 67,354 Taxes 35% 23.574 Net Income 43,780 Dividends 20,000 Addition to Retained Earnings 23,780 a) Current Ratio? b) Total assets turnover ratio? c) Debt to Equity Ratio
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