Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Assets Liabilities and Equity Cash 14,000 Accounts payable 16,000 Marketable securities 2,000 Notes payable 6,000 Accounts receivable 4,000 Current liabilities 22,000 Inventory 44,000 Long-term

image text in transcribed

Assets Liabilities and Equity Cash 14,000 Accounts payable 16,000 Marketable securities 2,000 Notes payable 6,000 Accounts receivable 4,000 Current liabilities 22,000 Inventory 44,000 Long-term debt 95,000 Current assets 64,000 Total liabilities 117,000 Machines 34,000 Paid-in capital 20,000 Real estate 80,000 Retained earnings 41,000 Net fixed assets 114,000 Equity 61,000 Total assets 178,000 Total liab. & equity 178,000 Line item Value Sales 85,000 - Costs 69,700 - Depreciation 2,000 = EBIT 13,300 - Interest 800 = Taxable income 12,500 Taxes 4,125 = Net income 8,375 Part 1 What is the total debt to total capital ratio? Attempt 1/3 for 10 pts. 3+ decimals Submit

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image_2

Step: 3

blur-text-image_3

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Advanced Accounting

Authors: Gail Fayerman

1st Canadian Edition

9781118774113, 1118774116, 111803791X, 978-1118037911

More Books

Students also viewed these Finance questions

Question

=+b) In which application is a larger length used?

Answered: 1 week ago