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a. 2.67 b. 2.23 c. 2.40 d.2.53 Peak Industries Below are the two most recent balance sheets and most recent income statement for Peak Industries.
a. 2.67 b. 2.23 c. 2.40 d.2.53
Peak Industries Below are the two most recent balance sheets and most recent income statement for Peak Industries. The company has an effective tax rate of 25%. Balance Sheet 2019 2018 Assets: Cash Accounts Receivable (net) Inventory Long-lived assets Less: Accumulated depreciation Total assets $10,000 6,000 8.000 12.000 (4.000) $32.000 $ 6,000 1.500 10.000 11,000 12.000) $26.500 5.9.500 1.000 5.500 Liabilities and Stockholders' Equity: Accounts payable Deferred revenues Long-term note payable Less Discount on note payable Common stock Retained earnings Total liabilities and stockholders equity 18000 $ 6,000 2.000 10.000 (1.000) 0,000 3.500 5260 12.000 1.800 S32.000 Income Statement For the year ended December 31, 2019 Reventes Cost of goods sold Depreciation expense Interest expense Bad debt expense Other expense (including income taxes Net income 560.000 (36,000) 0.000) 13.000 12.000) 19.000 SSD Refer to the information for Peak industries. Peak's currentiatio is Notes the account deterred revenues is a long term HabilityStep by Step Solution
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