C 17-4B Univers Univers Course IGE U.S. Su Fun X Selecte C Solved: ? Selecte C Get Ho + M Update : e 1 File C:/Users/Imanzano/Desktop/John%20J.%20Wild,%20Ken%20W.%20Shaw%20-%20Fundamental%20Accounting%20Principles%20(2019)... R Apps Bookmarks Schedule Tracker -- University of the Di... Books S Taxes Michelle Work a Protein >> RePelis24 | Ver Pel... | PT 7 Ways to Cope Wit... Emotion 98.3 [GTA:... Fundamental Accounting Principles (24th Ed) 670 / 1208 100% + 10 00/ Assets Liabilities Ratio Ratio Capital 2 Transaction 3 Beginning Assets $300,000 2.50 1.40 Problem 17-4B Calculating financial statement ratios P3 Selected current year-end financial statements of Overton Corporation follow. (All sales were on credit; selected balance sheet amounts at December 31 of the prior year were inventory, $17,400; total assets, $94,900; common stock, $35,500; and retained earnings, $18,800.) 668 OVERTON CORPORATION Income Statement For Current Year Ended December 31 OVERTON CORPORATION Balance Sheet December 31 of Current Year Sales ......... Cost of goods sold ....... Gross profit Operating expenses..... Interest expense... Income before taxes..... Income tax expense..... Net income...... Assets Cash. Short-term investments .... Accounts receivable, net... Merchandise inventory..... Prepaid expenses......... Plant assets, net.......... $315,500 236,100 79,400 49,200 2,200 28,000 4,200 $ 23,800 $ 11,500 3.300 2,600 $ 6,100 6,900 15,100 13,500 2,000 73,900 Liabilities and Equity Accounts payable..... Accrued wages payable......... Income taxes payable Long-term note payable, secured by mortgage on plant assets... Common stock, $5 par value..... Retained earnings .... Total liabilities and equity ........ 30.000 35,000 35.100 $117.500 Total assets........... $117,500 669 Required Check Acid-test ratio, 1.6 to Compute the following: (1) current ratio, (2) acid-test ratio, (3) days' sales uncollected, (4) inventory 1; Inventory turnover, 15.3 turnover, (5) days' sales in inventory, (6) debt-to-equity ratio, (7) times interest earned, (8) profit margin ratio, (9) total asset turnover, (10) return on total assets, and (11) return on common stockholders' equity. Round to one decimal place; for part 6, round to two decimals. Problem 17-5B Comparative ratio analysis P3 Summary information from the financial statements of two companies competing in the same industry follows. 670 Type here to search 1 PL 4:22 PM 3/17/2021
