Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Balance Sheet December 31, 2016 Assets Current Assets Cash $1,054.312 Accounts Receivable 123,200 Short-term Investments 738,054 Inventories 578,366 Prepaid Expenses 82,310 Total Current Assets $2,576,242

Balance Sheet December 31, 2016 Assets Current Assets Cash $1,054.312 Accounts Receivable 123,200 Short-term Investments 738,054 Inventories 578,366 Prepaid Expenses 82,310 Total Current Assets $2,576,242 Property, plant and equip (net) 832,400 Intangibles and other assets 692,175 Total Assets $4,100,817 Current Liabilities Accounts payable 69,210 Short-term notes 131,870 Other current liabilities 200,574 Total Current Liabilities $401,654 Long-term debt 1,962,357 Total Liabilities $2,364,011 Stockholders Equity Common Stock 1,421,300 Retained Earnings 315,506 Total Stockholders Equity $1,736,806 Total liabilities + Stockholders $4,100,817

Using the information from the balance sheet prepared the following ratios for 2016: a. Current Ratio b. Acid (Quick) Ratio c. Debt to Asset Ratio d. Debt to Equity Ratio

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

Step: 3

blur-text-image

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

Eoc Only Davis Managerial Accounting

Authors: Charles E. Davis, Elizabeth Davis

2nd Edition

111883464X, 978-1118834640

More Books

Students also viewed these Accounting questions