Answered step by step
Verified Expert Solution
Question
1 Approved Answer
Determine the following financial ratios for the Very Good Building Contractor from the data in the Balance Sheet and Income Statement. 1 Quick ratio 4
Determine the following financial ratios for the Very Good Building Contractor from the data in the Balance Sheet and Income Statement. 1 Quick ratio 4 Debt to equity ratio 7 Collection period - with retention Collection period - without retention 10 Working capital turns 13 General overhead ratio 2 Current ratio 3 Current liabilities to net worth ratio 5 Fixed assets to net worth 6 ratio Current assets to total assets ratio 8 Average age of accounts 9 Assets to revenues payable with retention ratio days 11 Accounts payable to 12 Gross profit margin revenue ratio 14 Pre-tax profit margin 15 Return on assets 16 Pre-tax return on equity After tax return on equity ASUS VivoBook \begin{tabular}{|c|c|c|c|c|} \hline & & & Depreciation & 34:2 \\ \hline lotal current Assets & 408,405 & 279,950 & Repairs and Maintenance & 10,80 \\ \hline FIXED AND OTHER ASSETS & & & Fuel and Lubrication & 16,98 \\ \hline Building and Land & 106,006 & 106,006 & Taxes, Licenses, and Insurance & 86 \\ \hline Construction Equipment & 56,727 & 56,727 & Equipment Costs charged to jobs & 68,506 \\ \hline Trucks and Autos & 31,159 & 31,159 & Total Equipment Costs & \\ \hline Office Equipment & 35,192 & 35,193 & & \\ \hline Total Fixed Assets & 229,085 & 229,085 & GROSS PROFIT & 242,239 \\ \hline Less Acc. Depreciation & 133,314 & 112,393 & & \\ \hline Net Fixed Assets & 95,771 & 116,69? & OVEHEAD & 207,805 \\ \hline Other Assets & 110,345 & 115,952 & & \\ \hline Total Assets & 614,521 & 512,594 & NET PROFIT FORM OPERATIONS & 34,434 \\ \hline LIABILITIES & & & OTHER INCOME AND EXPENSE & 7,813 \\ \hline Current Liabilities & & & & \\ \hline Accounts Payable-Trade & 191,046 & 142,789P & PROFIT BEFORE TAX & 42,247 \\ \hline Accounts Payable-Retention & 14,945 & 10,159 & x3 & \\ \hline \begin{tabular}{l} Billings in Excess of Costs and \\ Profits \end{tabular} & 2,961 & 7,93511 & INCOME TAX & 7,774 \\ \hline \end{tabular} Determine the following financial ratios for the Very Good Building Contractor from the data in the Balance Sheet and Income Statement. 1 Quick ratio 4 Debt to equity ratio 7 Collection period - with retention Collection period - without retention 10 Working capital turns 13 General overhead ratio 2 Current ratio 3 Current liabilities to net worth ratio 5 Fixed assets to net worth 6 ratio Current assets to total assets ratio 8 Average age of accounts 9 Assets to revenues payable with retention ratio days 11 Accounts payable to 12 Gross profit margin revenue ratio 14 Pre-tax profit margin 15 Return on assets 16 Pre-tax return on equity After tax return on equity ASUS VivoBook \begin{tabular}{|c|c|c|c|c|} \hline & & & Depreciation & 34:2 \\ \hline lotal current Assets & 408,405 & 279,950 & Repairs and Maintenance & 10,80 \\ \hline FIXED AND OTHER ASSETS & & & Fuel and Lubrication & 16,98 \\ \hline Building and Land & 106,006 & 106,006 & Taxes, Licenses, and Insurance & 86 \\ \hline Construction Equipment & 56,727 & 56,727 & Equipment Costs charged to jobs & 68,506 \\ \hline Trucks and Autos & 31,159 & 31,159 & Total Equipment Costs & \\ \hline Office Equipment & 35,192 & 35,193 & & \\ \hline Total Fixed Assets & 229,085 & 229,085 & GROSS PROFIT & 242,239 \\ \hline Less Acc. Depreciation & 133,314 & 112,393 & & \\ \hline Net Fixed Assets & 95,771 & 116,69? & OVEHEAD & 207,805 \\ \hline Other Assets & 110,345 & 115,952 & & \\ \hline Total Assets & 614,521 & 512,594 & NET PROFIT FORM OPERATIONS & 34,434 \\ \hline LIABILITIES & & & OTHER INCOME AND EXPENSE & 7,813 \\ \hline Current Liabilities & & & & \\ \hline Accounts Payable-Trade & 191,046 & 142,789P & PROFIT BEFORE TAX & 42,247 \\ \hline Accounts Payable-Retention & 14,945 & 10,159 & x3 & \\ \hline \begin{tabular}{l} Billings in Excess of Costs and \\ Profits \end{tabular} & 2,961 & 7,93511 & INCOME TAX & 7,774 \\ \hline \end{tabular}
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started