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find following price =8 $ SILVER LINING LIMITED Income Statement For the Year Ended December 31, 2009 $ $ $ 700 9,000 3,825 1,100 29,000

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find following price =8 $

SILVER LINING LIMITED Income Statement For the Year Ended December 31, 2009 $ $ $ 700 9,000 3,825 1,100 29,000 420 Revenues: Consulting services revenue Expenses: Office supplies expense Depreciation expense: office equipment Rent expense Insurance expense Salaries expense Profit before Interest and Taxes Interest expense Profit before taxes Income taxes expense Profit for the year SILVER LINING LIMITED Balance Sheet December 31, 2009 Assets Cash 29,025 3,500 Accounts receivable Inventory 15,000 Office equipment 18,000 Less: Accumulated Depreciation: Office equipment TOTAL ASSETS 65,525 Liabilities Accounts payable 1,400 Note payable (Due 3/1/10) 9,000 Income taxes payable 2,350 Unearned consulting services revenue 1,000 Salaries payable 1,900 Interest payable 420 TOTAL LIABILITIES 16,070 Shareholders' Equity Share capital 30,000 Retained earnings 19,455 TOTAL SHAREHOLDERS' EQUITY 49,455 TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY $ 65,525 Compute the following (round to one decimal place): 1. Current ratio 2. Quick ratio 3. Working capital 4. Debt ratio 7. EPS 8.P.E ratio 5 Return on assets 6 Return on equity 9. Number of times inventory turned over during the year and the average number of days required to turn over inventory (round computation to the nearest day). 10. Number of times accounts receivable turned over during the year and the average number of days required to collect accounts receivable (round computation to the nearest day). 54,000 36,000 $ $ S $ $ $ 64,000 43,625 20,375 44,045 19,955 7.500 12.455 $ $

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