Book Print Item Basic Financial Ratios The accounting staff of CCB Enterprises has completed the financial statements for the 2017 calendar year. The statement of income for the current year and the comparative statements of financial position for 2017 and 2016 follow CCB Enterprises Statement of Income For the Year Ended December 31, 2017 (thousands omitted) Revenue: Net sales $805,560 Other 59,080 Total revenue $864,640 Expenses: Cost of goods sold $532,620 Research and development 25,340 Selling and administrative 155,300 Interest 20,260 Total expenses $733,520 Income before income taxes $131,120 Income taxes 52,448 Net Income $78,672 CCB Enterprises Comparative Statements of Financial Position Check My Work Previous Next All work saved Save and it Submit Assignment for Grading ebook Printem CCB Enterprises Comparative Statements of Financial Position December 31, 2017 and 2016 (thousands omitted) 2017 2016 Assets Current assets: $26,000 $20,800 Cash and short-term investments Receivables, less allowance for doubtful accounts ($1,150 in 2017 and $1,410 in 2016) Inventories, at lower of FIFO cost or market Prepaid items and other current assets Total current assets Other assets: 48,120 50,060 65,140 62,080 4,950 3,200 $144,210 $136,140 Investments, at cost Deposits Total other assets Property, plant, and equipment: Land $106,170 $106,170 9,850 $116,020 $114,290 8,120 $12,010 $12,010 Buildings and equipment, less accumulated depreciation ($126,280 in 2017 and $121,040 in 2016) Total property, plant, and equipment 267,110 247,860 $279.120 $259,870 $539,350 $510,300 Total acces Check My Work All work saved Save a ** 20 gde 000 FS DII 8 F7 59 FV $ A & 3 4 5 6 7 8 9 ) 0 E RT eBook Print item Liabilities and Owners' Equity Current liabilities: Short-term loans Accounts payable $22,060 $24,020 72,250 70,900 26,060 26,740 Salaries, wages, and other Total current liabilities $120,370 $121,660 $159,110 $170,440 $279,480 $292,100 Long-term debt Total liabilities Owners' equity: Common stock, at par Pald-in capital in excess of par Total paid-in capital Retained earnings Total owners' equity Total liabilities and owners' equity $44,270 $42,000 64,230 60,960 $108,500 $102,960 151,370 115,240 $259,870 $218,200 $539,350 $510,300 Required: 1. Calculate the following financial ratios for 2017 for CCB Enterprises Round items he and k to the nearest whole number. Round all other answers to two decimal places. Assume a 360-day year. a. Times interest earned to 1 b. Return on total assets c. Return on common stockholders' equity d. Debt-to-equity ratio (at December 31, 2017) to 1 Check My Work All work saved Save an 20 ogg 74 a FS ga DH FB F FVO 3 4 5 V20 6 8 C 9 ) 0 CergastNow Online X Quizzes Elementary Statistik + mirkossignment takeAssignment Main.doFinvokeretakeAssignmentSessionLocator=&inprogress=false yo Danmar Check Thesaurus Quizlet Sign in to Outlook > Work Order Roque Electronic library Gordon State Co on) book Priem Total pad-in capital 5100,500 $102.960 Retained earnings 151,370 115,240 Total owners' equity $259,870 218,200 Total liabilities and owners' equity $539,350 $510,300 Required: 1. Calculate the following financial ratios for 2017 for CC Enterprises Round stems ty, and to the nearest whole number, Round all other answers to two decimal places. Assume a 360-day year. B. Times interest earned to 1 b. Return on total assets % to 1 to 1 to 1 times c. Return on common stockholders equity d. Debt-to-equity ratio at December 31, 2017) e. Current ratio (ut December 31, 2017) 1. Quick (acid-test) ratio (at December 31, 2017) 9. Accounts receivable turnover ratio (Assume that all sales are on Credit h. Number of days' ales in receivables Inventory tumover ratio (Assume that all purchases are on credit.) J. Number of days' sales in inventory * Number of days in cash operating eyde 2. Which of the following statements pertaining to ratio analysis of CB Enterprises is true All of these are true days times days days Check My Work Pri All work Save and Eat Subm 80 999 00 DD EV 3 4 5 6 & 7 8 9 0