el Calculate the return on assets for 2020 Return an Assets 11 Calculate the asset turnover ratio for 2020 Assat turnover: times TOTAL ASSETS gl Calculate the current ratio for 2020 Current Ratio: The balance sheet and income statement for Joe s Fish Hut are presented below: Joe's Fish Hut Balance Sheet As at May 31 2020 2019 Joe's Fish Hut ASSETS Income Statement Current Assets For the Year Ended May 31, 2020 Cash $155,502 $51,900 Sales $123,000 Accounts receivable $23,900 $12,500 COGS M $81,400 Merchandise Inventory $24,000 $29,400 Gross Profit $41,600 Total Current Assets $203,402 $93,800 Operating Expenses Property, plant & equipment S127,000 $176,000 Insurance Expense $1,100 Less: Nccurrulated depreciation -28,700 S-20,700 Rent Expense $4,330 $301,702 $249,100 Salarios Expense $4,550 een LIABILITIES AND EQUITY Telephone Expense $670 ca Liabilities Interest Expense $1,100 Current Liabilities berriation Depreciation Expense $8.000 Accounts payable $25,100 $43,000 Total Operating Expenses $19,750 Notes Payable-Current Portion $7.900 $7,900 Operating Profit Before Tax $21,850 Total Current Liabilities $33,000 $50,900 Income Tax Expenso $7,648 Notes Payable-Long-Term Portion $86,000 $53,000 Net Profit (l oss $14,202 TOTAL LIABILITIES $119,000 $103,900 Shareholders' Equity Complete the following ratio analysis Common shares $74,000 $50,700 Do not enter dollar signs or commas in the input boxes Retained earnings $108,702 $94,500 Round all answers to 2 decimal places. TOTAL SHAREHOLDERS' EQUITY $182,702 S145,200 E al Calculate the gross profit margin for the 2020. TOTAL LIABILITIES AND EQUITY $301,702 $249,100 Gross Profit Margin: 33.82 % hi Calculate the quick ratia for 2020. Quick Ratio il Calculate the deat to equity ratio for 2020. Debt to Equity Ratio: il Calculate the days sales outstanding ratio for 2020. Assume all sales are credit sales, Day's sales outstanding: days k) Calculate the accounts receivabe turnover for 2020. Assume all sales are credit sales Accounts Receivable turnover: times 1 Calculate the days' sales in inventory ratio for 2020. Days Sales inventory: day's b) Calculate the times interest earned ratio for 2020 Times Interest Earned: 18.66 times mi Calculate the inventory turnover for 2020. Ieritory tumover times cl Calculate the net profit margin for 2020, Net Profit Margin: 1 ni Calculate the debt to assets ratio for 2020. Debt to assets Ratio % d) Calculate the return on equity for 2020. Retum on Equity % contact us: of Calculate the working capital for 2020. Working Capita M Contact us
