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Current Attempt in Progress Flint Company has been operating for several years, and on December 31, 2020, presented the following balance sheet. FLINT COMPANY BALANCE
Current Attempt in Progress Flint Company has been operating for several years, and on December 31, 2020, presented the following balance sheet. FLINT COMPANY BALANCE SHEET DECEMBER 31, 2020 Cash $43,300 Accounts payable $81,800 Receivables 130,500 79,600 Mortgage payable 94,100 Common stock ($1 par) Inventory 150,400 74,200 Plant assets (net) Retained earnings 219,900 $436,900 $436,900 The net income for 2020 was $27,500. Assume that total assets are the same in 2019 and 2020. (a) Compute each of the following ratios. (Round answers to 2 decimal places, e.g. 1.59 or 45.87%.) (a) Current ratio (b) Acid-test ratio (c) Debt to assets ratio (d) Return on assets
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