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Does someone have the answers to all 10 items? Financial Statements Analysis Below are the two most recent balance sheets and most recent income statement
Does someone have the answers to all 10 items?
Financial Statements Analysis Below are the two most recent balance sheets and most recent income statement for Orca Industries. The company has an effective tax rate of 21%. Balance Sheet 2020 2019 Assets: Cash $10,000 $ 6,000 Accounts Receivable (net) 6.000 1,500 Inventory 8.000 10,000 Long-lived assets 12.000 11,000 Less: Accumulated depreciation (4.000 _(2.000) Total assets $32.000 $26.500 $5,000 $ 6,000 1,000 2,000 10,000 10,000 Liabilities and Stockholders' Equity: Accounts payable Deferred revenues Long-term note payable Less: Discount on note payable Common stock Retained earnings Total liabilities and stockholders' equity (800) 12,000 4.800 $32.000 (1.000) 6,000 3,500 $26.500 Income Statement For the year ended December 31, 2020 Revenues $42.000 (24.000) (2.000) Cost of goods sold Depreciation expense Interest expense Bad debt expense Other expense (including income taxes) Net income (3.000) (2.000) (9.000) $ 2.000 Calculate the following ratios and explain what they mean to the company: 1. Current ratio 2. Quick ratio 3. A/R turnover 4. Collection ratio 5. Inventory turnover 6. Average number of days inventory is in stock 7. debt-to-equity ratio 8. Profit margin 9. Asset turnover 10. Return on assets Step by Step Solution
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