(Assets, Liabilities, & Stockholders Equity)

Assets, Liabilities, & Stockholders Equity)

Cash 490 Accounts payable 22,300

Marketable securities 950

Notes payable 47,300

Accounts receivable 24,900

Total Current Liabilities 69,600

Inventories 45,300

Long-term Debt 22,950

Total Current Assets 71,640

Net Fixed Assets 77,900

Common stock equity 31,800

TOTAL ASSETS 149,540

Retained earnings 25,190

Total Stockholders' Equity 56,990

TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY 149,540

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Sales revenue $159,500

Less: Cost of good sold 106,300

Gross Profit $53,200

Less: Operating expenses

General and administrative $25,300

Depreciation expenses 10,720

Total Operating Expense 36,020

Operating Profits $17,180

Less: Interest expense 5,900

Net Profits Before Taxes $11,280

Less: Taxes 4,310

Earnings Avail. for Common Stockholders $6,970

Use the Balance Sheet and Income Statement to answer questions 16-23

16.) Current Ratio equals

a. 1.62

b. 1.03

c. 0.97

d. 0.38

17.) Quick Ratio equals

a. 1.62

b. 1.03

c. 0.97

d. 0.38

18.) Average collection period equals

a. 56.98

b. 0.16

c. 0.21

d. 76.57

19.) Average payment period equals (assume all purchases made in calendar year)

a. 56.98

b. 0.16

c. 0.21

d. 76.57

20.) Debt ratio equals

a. 0.371

b. 1.624

c. 1.616

d. 0.619

21.) Times interest earned equals

a. 1.18

b. 2.91

c. 27.03

d. 0.34

22.) Operating profit equals

a. 0.071

b. 0.334

c. 0.108

d. 0.044

23.) Net profit equals

a. 0.071

b. 0.334

c. 0.108

d. 0.044