Question
Can someone please help? I need ratio analysis for the following statements SAXTON COMPANY Income Statement For the Year Ended December 31, 2009 Sales (all
Can someone please help? I need ratio analysis for the following statements
SAXTON COMPANY
Income Statement
For the Year Ended December 31, 2009
Sales (all on credit) $ 4,000,000
Cost of Goods Sold3,000,000
___________
Gross Profit.$ 1,000,000
Selling and Administrative Expenses. 450,000
_____________
Operating Profit $ 550,000
Interest Expense 50,000
Extraordinary Loss. 200,000
Earnings Before Taxes$ 300,000
Income Taxes (33%). 100,000
Net Income.$ 200,000
SAXTON COMPANY
Balance Sheet
As of December 31, 2009
Assets
Cash $ 30,000
Accounts Receivable.. 350,000
Marketable Securities .. 50,000
Inventory. 370,000
____________
Total Current Assets. $ 800,000
Net Plant and Equipment.. 800,000
____________
Total Assets.$ 1,600,000
Liabilities and Stockholders Equity
Accounts Payable..$ 50,000
Notes Payable.. 250,000
_____________
Total Current Liabilities..$ 300,000
Long Term Liabilities 300,000
____________
Total Liabilities ..$ 600,000
Common Stock. 400,000
Retained Earnings.. 600,000
____________
Total Stockholders Equity.$ 1,000,000
____________
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started