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Culver Corporation was formed 5 year's ago through a public subscription of common stock. Daniel Brown, who owns 1 5 % of the common stock,
Culver Corporation was formed year's ago through a public subscription of common stock. Daniel Brown, who owns of the
common stock, was one of the organizers of Culver and is its current president. The company has been successful, but it currently is
experiencing a shortage of funds. On June Daniel Brown approached the Topeka National Bank, asking for a month
extension on two $ notes, which are due on June and September Another note of $ is due on March
but he expects no difficulty in paying this note on its due date. Brown explained that Culver's cash flow problems are due
primarily to the company's desire to finance a $ plant expansion over the next fiscal years through internally generated
funds. The notes payable due at march are due prior to March
The commercial loan officer of Topeka National Bank requested the following financial reports for the last fiscal years.
aCash, dividends were paid at the rate of $ per share in fiscal year and $ per share in fiscal year Culver Corporation
Income Statement
For the Fiscal Years Ended March
aDepreciation charges on the plant and equipment of $ and $ for fiscal years ended March and
respectively, are included in cost of goods sold.
a Compute the following items for Culver Corporation. Round answers to decimal places, eg or
Current ratio for fiscal years and
Acidtest quick ratio for fiscal years and
Inventory turnover for fiscal year
Return on assets for fiscal years and Assume total assets were $ at
Percentage change in sales, cost of goods sold, gross margin, and net income after taxes from fiscal year to a Compute the following items for Culver Corporation. Round answers to decimal places, eg or
Current ratio for fiscal years and
Acidtest quick ratio for fiscal years and
Inventory turnover for fiscal year
Return on assets for fiscal years and Assume total assets were $ at
Percentage change in sales, cost of goods sold, gross margin, and net income after taxes from fiscal year to
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