Corp Fin Week 3 Assingmnet

What was Gannons Quick Ratio at the end of 2017?

What was Gannons Debt to Equity Ratio at the end of 2017? (AP is not part of Debt)

What was Gannons Times Interest Earned Ratio in 2017?

Assuming that all Gannons sales are on credit, how many days, on average, did it take the firm to sell its inventory in 2017? (For balance sheet accounts, use the average of the beginning and end-of-year balances).

Assuming that all Gannons sales are on credit, what was the companys Days Sales Outstanding in 2017? (For balance sheet accounts, use the average of the beginning and end-of-year balances).

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For questions #7-18, refer to the following financial information for Gannon Insurance. YOU MUST SHOW ALL CALCULATIONS TO EARN CREDIT 2016 2017 BALANCE SHEETS: Assets: Cash Accounts Receivable Inventory Fixed Assets, net Total Assets 120,000 520,000 305,000 410,000 1,355,000 160,000 620,000 290,000 510,000 1,580,000 Liabilities and Equity: Accounts Payable Long-term Debt Common Stock Retained Earnin Total Liabilities and Equity 350,000 500,000 50,000 455,000 1,355,000 375,000 625,000 75,000 505,000 1,580,000 INCOME STATEMENT: 3,500,000 2,275,000 515,000 120,000 590,000 40,000 550,000 167,000 383,000 Revenue Cost of Goods Sold General and Administrative ation se Earnings Before Interest and Taxes Interest Pretax Net Income Income Taxes Net Income se