(Click the icon to view the financial statements.) Requirement 1. Describe each liability of Dome Homes, Inc., and state how the liability arose. Choose the correct liability from the list that best fits the description provided. Amounts owed to suppliers for products or services that have been purchased on account. Expenses that the company has incurred but not yet paid; these are liabilities for expenses such as interest and income taxes. Amounts owed to employees for salaries and other payroll-related expenses. Next year's principal payment on the company's long-term debt. The amount of long-term notes and bonds payable due more than one year after the balance sheet date. The company's liabilities for providing benefits-mainly health care-to retirees. A catch-all group of liabilities that do not fit one of the more specific categories. These are long-term, as shown by the fact that they are not listed among the current liabilities. payable at the end of 2018 was $185 million. The December 31,2020 and 2019 , balance sheets and income statements reported the following amounts: (Click the icon to view the financial statements.) Requirement 2. Evaluate whether the company's ability to pay its long-term debts improved, deteriorated, or remained about the same over the year. What were the company's total assets at December 31, 2020? The total assets at December 31,2020 , were $ million. Evaluate the company's leverage and debt ratio at the end of 2019 and 2020 . Did the company improve, deteriorate, or remain about the same over the year? Begin by computing the debt ratios. (Round your answers to two decimal places, X.XX.) The debt ratio for 2020 is The debt ratio for 2019 is 120202019=Leverageratio11 Did the company improve, deteriorate, or remain about the same over the year? Both the leverage ratio and debt ratio in 2020. The company's ability to pay its long-term debts over the year. Requirement 3. Evaluate whether the company 's ability to pay its short-term debts improved, deteriorated, or remained about the same over the year. Accounts payable at the end of 2018 was $185 million. The December 31, 2020 and 2019 , balance sheets and income statements reported the following amounts: (Click the icon to view the financial statements.) Requirement 3. Evaluate whether the company's ability to pay its short-term debts improved, deteriorated, or remained about the same over the year. decimal places, X.XX.) Round your answers to the nearest whole day.) Now, determine the formula for the current ratios. Then complete the formula and calculate the current ratios at the end of 2019 and 2020 . (Round your answers to two decimal places, X.XX.) Evaluate whether the company improved or deteriorated from the standpoint of ability to cover accounts payable and current liabilities. The company's ability to pay its short-term debts over the year Dome Homes, Inc., builds environmentally ser payable at the end of 2018 was $185 million. 7 (Click the icon to view the financial sta Financial statements Requirement 3. Evaluate whether the compar Determine the formula for the accounts payab decimal places, X.XX.) Now, determine the formula for the current rati Requirement 1. Describe each liability of Dome Homes, Inc., and sta Choose the correct liability from the list that best fits the description pro Amounts owed to suppliers fo i that the company hi owed to employees fi 's principal payment o Int of long-term notes Jany's liabilities for prov Il group of liabilities that s ability to pay its long-t or 31,2020? million. Evaluate the company's leverage and debt ratio at the end of 2019 and 202 payable at the end of 2018 was $185 million. The December 31,2020 and 20 (Click the icon to view the financial statements.) Requirement 2. Evaluate whether the Long-term liabilities What were the company's total assets e The total assets at December 31,2020 Shareholders' equity Evaluate the company's leverage and d Total assets Begin by computing the debt ratios. (Rc Total current assets The debt ratio for 2020 is The debt ratio for 2019 is Total current liabilities For the leverage ratio, first determine th Total liabilities Su me company improve, deteriorate, or remain about the same over the year? Both the leverage ratio and debt ratio Requirement 3. Evaluate whether the company 's ability to pay its short-term debts A catch-all group of liabilities that do not fit one of the more spec Requirement 2. Evaluate whether the company's ability to pay its long-term debts improved, deteriorat What were the company's total assets at December 31, 2020? The total assets at December 31,2020 , were $ million. Evaluate the company's leverage and debt ratio at the end of 2019 and 2020. Did the company improve, Begin by computing the debt ratios. (Round your answers to two decimal places, X.XX.) The debt ratio for 2020 is The debt ratio for 2019 is For the leverage ratio, first determine t a and calculate the leverage Requirement 3. Evaluate whether the company's ability to pay its short-term debts improved, deteriorated, or rem Determine the formula for the accounts payable turnover. Then complete the formula and calculate the accounts pay decimal places, X.XX.) Next, determine the formula for the days payal Round your answers to the nearest whole c Now, determine the formula for the current rati Evaluate whether the company improved or de Next, determine the formula for the days payable outstanding (DPO). Then complete the formula : Round your answers to the nearest whole day.) Now, determine the formula for the current ratios. Then complet deteriorated improved. Evaluate whether the company improved or deteriorated from th stayed the same. The company's ability to pay its short-term debts over the year
