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Chapter 6 (5 pts.) Use the financial data shown below to calculate the following ratios for the current year: a. Current ratio. b. Quick ratio.
Chapter 6 (5 pts.) Use the financial data shown below to calculate the following ratios for the current year: a. Current ratio. b. Quick ratio. c. Accounts receivable turnover. d. Days' sales uncollected. e. Inventory turnover. f. Days' sales in inventory. g. Gross profit margin h. Net profit margin i. Return on investment assets Income statement data Sales (all on credit). Cost of goods sold... Income before taxes Net income. $650,000 425.000 78.000 54.600 Ending Beginning Cash......... Accounts receivable (net). Inventory Plant and equipment (net). Total assets... Current liabilities. Long-term notes payable.. Balances Balances $ 19.500 $ 15.000 65.000 60.000 71.500 64.500 195.000 $351,000 183.900 $323,400 $ 62.400 S 52.700 97.500 100.000
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