Question
Given below are selected data from the comparative income statement and balance sheet for Titanic Corporation for the years ended December 31, 2021 and 2020:
Given below are selected data from the comparative income statement and balance sheet for Titanic Corporation for the years ended December 31, 2021 and 2020:
| 2021 (RM) | 2020 (RM) |
Net sales (all on credit) Cost of goods sold Gross profit Income from operations Interest expense Net income Cash Accounts receivable, net Inventory Prepaid expenses Total current assets Total long-term assets Total current liabilities Total long-term liabilities Common stock, no par Retained earnings
| 96,000 51,300 44,700 16,300 3,000 9,800 2,700 10,700 25,000 1,000 39,400 50,000 39,000 15,000 *10,000 25,400 | 93,000 52,500 40,500 15,000 3,500 9,000 3,500 12,500 30,000 900 46,900 67,000 49,500 25,000 10,000 29,400 |
*NOTE: 1,000 shares of common stock have been issued and outstanding since the company started operations. During the entire fiscal year ended December 31, 20X8, the stock was selling for $45 per share.
1. Calculate the following ratios at December 31, 2021. Show your calculations): [40 marks]
a) working capital
b) current ratio
c) acid-test ratio
d) gross margin ratio
e) net profit ratio
f) rate of return on total assets
g) inventory turnover
h) days sales in receivables
i) debt ratio
j) book value per share of common stock
k) price/earnings ratio
l) times-interest-earned ratio
(pls answer ASAP i will give the like to you,thanks)
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