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Compute the following ratios for 2017 Compute the following ratios for 2017. (Weighted-average common shares in 2017 were 57,000.) As you can see, I need
Compute the following ratios for 2017
Compute the following ratios for 2017. (Weighted-average common shares in 2017 were 57,000.)
As you can see, I need help with b, c, f, and g. Please explain how I can do these because i'm having trouble determining the correct components of the formula's.
The comparative statements of Painter Tool Company are presented below. PAINTER TOOL COMPANY For the Years Ended December 31 2017 2016 Net sales Cost of goods sold Gross profit Selling and administrative expenses Income from operations Other expenses and losses $1,818,500 1,011,500 807,000 499,000 308,000 $1,750,500 996,000 754,500 275,500 Interest expense Income before income taxes 18,000 290,000 87,000 $ 203,000 14,000 261,500 Net income $ 184,500 PAINTER TOOL COMPANY December 31 Assets 2017 2016 Current assets $60,100 69,000 107,800 133,000 369,900 600,300 $970,200 $64,200 50,000 102,800 115,500 332,500 600,300520,300 Short-term investments Accounts receivable (net) Inventory Total current assets Plant assets (net) Total assets Liabilities and Stockholders' Equity Current liabilities 20,200 $852,800 $160,000 43,500 203,500 200,000 403,500 $145,400 42,000 187,400 200,000 387,400 Accounts payable Income taxes payable Total current liabilities Bonds payable Total liabilities 3571400 Stockholders' equity Common stock ($5 par) Retained earnings 280,000 286,700 566,700 300,000 165,400 465,400 $852,800 Total stockholders' equity All sales were on accountStep by Step Solution
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