Answered step by step
Verified Expert Solution
Question
1 Approved Answer
All answers rounded to 2 decimals please 1. What was the common size ratio for Cash account at the end of the year? 2. What
All answers rounded to 2 decimals please
1. What was the common size ratio for Cash account at the end of the year?
2. What was the quick ratio at the end of the year?
3. What was the cash coverage ratio at the end of the year?
4. How long, on average, did a unit of inventory sit on the shelf before it was sold for the year?
5. What was the company's ROE for the year? (percent)
Balance Sheet Beginning of year End of year Cash $ 38,200.00 $ 43,700.00 Accounts Recievable $ 91,400.00 $ 86,150.00 Inventory $ 203,900.00 $ 214,600.00 Net Fixed assets $ 516,100.00 $ 537,950.00 Total assets $ 849,600.00 $882,400.00 Accounts Payable $ 136,100.00 $ 104,300.00 Long-term debt $ 329,500.00 $298,200.00 Common stock ($1 par value) $ 75,000.00 $ 82,000.00 Retained earnings $ 309,000.00 $397,900.00 Total Liabilities and Equity $ 849,600.00 $882,400.00 For the year Net Sales $ 827,500.00 Cost of Goods Sold $ 611,800.00 Depreciation $ 23,100.00 EBIT $ 192,600.00 Interest $ 9,700.00 Taxable income $ 182,900.00 Taxes $ 38,400.00 Net Income $ 144,500.00
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started