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ASSETS Cash $ 100,000 Accounts receivable 30,000 Inventory 50,000 Prepaid expenses 10,000 Total current assets $ 190,000 Gross plant and equipment $ 401,000 Accumulated depreciation
ASSETS | ||
Cash | $ 100,000 | |
Accounts receivable | 30,000 | |
Inventory | 50,000 | |
Prepaid expenses | 10,000 | |
Total current assets | $ 190,000 | |
Gross plant and equipment | $ 401,000 | |
Accumulated depreciation | -66,000 | |
Net plant and equipment | $ 335,000 | |
Total assets | $ 525,000 | |
DEBT AND EQUITY | ||
Accounts payable | $90,000 | |
Accrued liabilities | 63,000 | |
Total current debt | $153,000 | |
Long-term debt | 120,000 | |
Common stock | 205,000 | |
Retained earnings | 47,000 | |
Total debt and equity | $525,000 | |
Sales | $210,000 | |
Cost of goods sold | (90,000) | |
Gross profit | $120,000 | |
Selling, general, and administrative expenses | (29,000) | |
Depreciation expense | (26,000) | |
Operating income | $65,000 | |
Interest expense | (8,000) | |
Earnings before taxes | $57,000 | |
Taxes | (16,000) | |
Earnings available to common shareholders | $ 41,000 | |
Calculate: | ||
Current ratio | ||
Acid-test ratio | ||
Times interest earned | ||
Inventory turnover | ||
Total asset turnover | ||
Operating profit margin | ||
Days in receivables | ||
Operating return on assets | ||
Debt ratio | ||
Fixed asset turnover | ||
Return on equity |
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