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A partial list of accounts for the year ended November 30, 2023 for Reindeer Incorporated is provided below: Cash $52,100 Short term investments 25,000 Net
A partial list of accounts for the year ended November 30, 2023 for Reindeer Incorporated is provided below:
Cash | $52,100 |
Short term investments | 25,000 |
Net receivables | 32,600 |
Inventory | 57,900 |
Property, plant & equipment, net | 179,000 |
Accounts payable | 61,500 |
Interest payable | 1,000 |
Wages payable | 2,800 |
Long term note payable | 75,000 |
Income from operations | 122,600 |
Interest expense | 5,000 |
Required: Compute the following ratios for 2023:
Current ratio
Quick ratio
Debt ratio
Times Interest earned ratio
Current ratio | Current assets Current liabilities |
Quick ratio | Cash + short-term investments + net current receivables Current liabilities |
Debt ratio | Total liabilities Total assets |
Times interest earned | Income from operations Interest expense |
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