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can you help me with number 4 for to find the ratios please? Stevie's Surfboard Tables, Inc. Comparative Balance Sheet December 31, 2020 and 2019
can you help me with number 4 for to find the ratios please?
Stevie's Surfboard Tables, Inc. Comparative Balance Sheet December 31, 2020 and 2019 2020 2019 Assets Current Assets: Cash Accounts Receivable, net Merchandise Inventory Supplies Prepaid Rent Total Current Assets 200,000 100,000 100,000 9,700 10.000 $419,700 60,000 150,000 70,000 500 30.000 $310,500 Property, plant, and Equipment: Equipment Less: Accumulated Depreciation - Equipment Total Property, Plant, and Equipment Total Assets 350,000 (70,000 $280,000 $699,700 235,000 165,000) $170,000 $480,500 2020 2019 Liabilities and Stockholders' Equity Current Liabilities: Accounts Payable Unearned Revenue Salaries Payable Federal Income Taxes Payable Total Current Liabilities 75,000 60,000 40,000 25.000 $200,000 105,000 75,000 42,000 16,000 $238,000 Long Term Liabilities Note Payable Total Liabilities 132.200 $332,200 78,000 $316,000 20,000 Stockholders' Equity Common Stock, $10 Par Paid In Capital in Excess of Par Retained Earnings Total Stockholders' Equity Total Liabilities and Stockholders' Equity 70,000 30,000 267,500 $367,500 $699,700 144,500 $164,500 $480,500 Stevie's Surfboard Tables, Inc. Comparative Statement of Income For the Years Ended December 31, 2020 and 2019 2020 2013 2019 935,000 610.000 $325,000 650,000 475,000 $175,000 Sales Cost of Goods Sold Gross Margin Operating Expenses: Salaries and Wages Expense Rent Expense Depreciation Expense Total Operating Expenses Income from Operations Gain on Sale of Equipment Interest Expense Increase (Decrease) in Operating Income Income before Taxes Federal Income Taxes Net Income 100,000 20,000 10.000 $130,000 $45,000 86,000 30,000 15,000 $131,000 $194,000 3,000 (2000) 14.000) 190,000 (57.000) $133,000 (5.000) (5,000 40,000 (12.000) $28,000 COMPARATIVE STATEMENT OF RETAINED EARNINGS Stevie's Surfboard Tables, Inc. Comparative Statement of Retained Earnings For the Years Ended December 31, 2020 and 2019 2020 2019 Retained Earnings, Beginning 144,500 116,500 of Year Net Income 133,000 28,000 Less: Dividends 7 0 Retained Earnings, End of Year $267,500 $144,500 1. Equipment with a cost of $87,000 on which $10,000 of depreciation has been recorded, was sold for cash. Additional equipment was purchased for cash and a note payable. 2. Stock was issued for cash. 3. The dividends were paid in cash. C 4. Using the financial statements in the practice set (located on Blackboard), calculate the ratios below: (Use the following template shown here in the practice set) a. Working Capital both years b. Current Ratio both years Quick ratio both years d. Accounts Receivable Turnover 2020 Number of Days Sales in Receivables 2020 (Company policy states 30 days in receivables) f. Inventory Turnover 2020 g. Number of Days Sales in Inventory 2020 (Company policy states 50 days to turn over inventory) h. Ratio of Liabilities to Stockholders' Equity 2020 Return on Total Assets 2020 j. Return on Stockholders' Equity 2020 * 1910 Earnings Per Share 2019 and 2020 Step by Step Solution
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