Financial Statement Analysis Exercises

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1.)

Feiler Corporation has total current assets of $507,000, total current liabilities of $371,000, total stockholders' equity of $1,081,000, total net plant and equipment of $1,055,000, total assets of $1,562,000, and total liabilities of $481,000. The company's current ratio is closest to:

0.77

2.19

1.37

1.05

2.)

Dennisport Corporation has an acid-test ratio of 2.2. It has current liabilities of $48,000 and noncurrent assets of $77,000. The corporation's current assets consist of cash, marketable securities, accounts receivable, prepaid expenses, and inventory; it has no short-term notes receivable. If Dennisport's current ratio is 3.4, its inventory and prepaid expenses must be:

$86,200

$98,600

$57,600

$63,800

3.)

Deacon Corporation has provided the following financial data from its balance sheet and income statement:

	Year 2	Year 1
Total assets	$1,210,000	$1,171,000
Total liabilities	$476,000	$472,000
Total stockholders' equity	$744,000	$710,000
Net operating income (income before interest and taxes)	$68,739
Interest expense	$25,000

The company's times interest earned for Year 2 is closest to:

1.75

2.75

0.66

3.75

4.)

Data from Fontecchio Corporation's most recent balance sheet appear below:

Cash	$24,000
Marketable securities	$29,000
Accounts receivable	$75,000
Short-term notes receivable	$0
Inventory	$66,000
Prepaid expenses	$19,000
Current liabilities	$160,000

The corporation's acid-test ratio is closest to:

0.62

0.18

0.80

0.33

5.)

Calin Corporation has total current assets of $643,000, total current liabilities of $252,000, total stockholders' equity of $1,211,000, total net plant and equipment of $986,000, total assets of $1,629,000, and total liabilities of $418,000. The company's working capital is:

$391,000

$343,000

$477,000

$418,000

6.)

During the year just ended, the retailer James Corporation purchased $449,000 of inventory. The inventory balance at the beginning of the year was $199,000. If the cost of goods sold for the year was $472,000, then the inventory turnover for the year was: (Round your Final answers to 2 decimal places.)

2.37

2.68

2.39

2.52

7.)

Granger Corporation had $193,000 in sales on account last year. The beginning accounts receivable balance was $25,000 and the ending accounts receivable balance was $34,000. The corporation's average collection period was closest to: (Assume 365 days a year. Round your intermediate answers to 2 decimal places.)

6.5 days

64.3 days

55.8 days

47.3 days

8.)

Irawaddy Company, a retailer, had cost of goods sold of $423,500 last year. The beginning inventory balance was $37,000 and the ending inventory balance was $40,000. The company's average sale period was closest to: (Assume 365 days a year.)

	11.00 days
	33.20 days
	0.03 days
	3.14 days