ACME, Inc.

Income Statement

Month Ended July 31, 2018

Revenues:

Sales 99,000

Expenses:

Wages Expense 25,000

Rent Expense 12,000

Gasoline Expense 2,400

Utilities Expense 6,000

Supplies Expense 400

Depreciation Expense-Del Van 3,000

Depreciation Expense-Equip 10,000

Total Expenses 58,800

Net Income 40,200

ACME, Inc.

Statement of Retained Earnings

Month Ended July 31, 2018

Retained Earnings, July 1, 2012 39,100

Plus: Net Income for July 40,200

Less: Dividends 6,000

Increase in Retained Earnings 34,200

Retained Earnings, July 31, 2012 73,300

ACME, Inc.

Balance Sheet

July 31, 2018

Assets Liabilities

Current Assets: Current Liabilities:

Cash 42,000 Accounts Payable 4,000

Accounts Receivable 8,000 Sales Tax Payable 4,500

Inventory 800 Total Current Liabilities 8,500

Total Current Assets 50,800 Long-Term Liabilities:

Property, Plant & Equipment: Long Term Loans Payable 11,000

Delivery Van 15,000 Total Liabilities 19,500

Accumulated Depreciation Del Van 3,000 12,000

Equipment 50,000 Stockholders Equity

Accumulated Depreciation Equip 20,000 30,000 Retained Earnings 73,300

Total Assets 92,800 Total Liabilities and 92,800

Stockholders Equity

Using the information from the Financial Statements you have just completed and assuming that Cost of Goods Sold amounted to 40% of your sales and that all your sales are on credit, answer the following:

1. Profit Margin Ratio

2. Return on Equity Ratio

3. Return on Assets Ratio

4. Total Assets Turnover Ratio

5. Current Ratio

6. Debt to Total Assets Ratio

7. Quick (Acid Test) Ratio

8. Receivable Turnover Ratio

1. Fixed Assets Turnover Ratio

10. Inventory Turnover Ratio

11. Debt to Equity Ratio