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also need to find the current ratio to 1 and find debt to equity ratio The 2021 income statement of Adrian Express reports sales of
also need to find the current ratio to 1 and find debt to equity ratio
The 2021 income statement of Adrian Express reports sales of $15,327,000, cost of goods sold of $9,106,000, and net income of $1,580,000. Balance sheet information is provided in the following table. ADRIAN EXPRESS Balance Sheets December 31, 2021 and 2020 2021 2020 Assets Current assets: Cash Accounts receivable Inventory Long-term assets Toto Total assets Liabilities and Stockholders' Equity Current liabilities Long-term liabilities Common stock Retained earnings Total liabilities and stockholders' equity $ 580,000 1,360, eee 1,760,000 4,780,000 $8,480,000 $ 740,000 980,000 1,380,000 4,220,000 $7,320, eee $2,000, eee 2,280,000 1,960,000 2,240,000 $8,480,000 $1,640,000 2,380,000 1,960, eee 1,340,000 $7,320, eee Industry averages for the following four risk ratios are as follows: Average collection period Average days in inventory Current ratio Debt to equity ratio 25 days 60 days 2 to 1 50% Required: 1. Calculate the four risk ratios listed above for Adrian Express in 2021. (Use 365 days in a year. Round your answers to 1 decimal place.) Risk Ratios Average collection period Average days in inventory 27.7 days daysStep by Step Solution
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