Question
A condensed balance sheet for Bradford Corporation prepared at the end of the year appears as follows: Assets Liabilities & Stockholders' Equity Cash $ 109,000
A condensed balance sheet for Bradford Corporation prepared at the end of the year appears as follows: Assets Liabilities & Stockholders' Equity Cash $ 109,000 Notes payable (due in 6 months) $ 41,000 Accounts receivable 160,000 Accounts payable 95,000 Inventory 270,000 Long-term liabilities 339,000 Prepaid expenses 60,000 Capital stock, $6 par 300,000 Plant and equipment (net) 570,000 Retained earnings 484,000 Other assets 90,000 Total $ 1,259,000 Total $ 1,259,000
During the year, the company earned a gross profit of $1,116,000 on sales of $2,950,000. Accounts receivable, inventory, and plant assets remained almost constant in amount throughout the year, so year-end figures may be used rather than averages. Compute the current ratio. Note: Round your answer to 2 decimal place. Compute the quick ratio. Note: Round your answer to 2 decimal place. Compute the working capital. Compute the debt ratio. Note: Round your percentage answer to nearest whole percent. i.e. 0.1234 as 12%. Compute the accounts receivable turnover (all sales were on credit). Note: Round your answer to 2 decimal places. Compute the inventory turnover. Note: Round your answer to 2 decimal places. Compute the book value per share of capital stock. Note: Round your answer to 2 decimal places.
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