Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Hi i need your help for this questions. Thank you :) Calculate ratios. E18-17 Rinker Corporation's comparative balance sheet is presented below. (LO 4, 5,

Hi i need your help for this questions.

Thank you :)

image text in transcribed
Calculate ratios. E18-17 Rinker Corporation's comparative balance sheet is presented below. (LO 4, 5, 6) AP RINKER CORPORATION Balance Sheet December 31 2017 2016 $ 5,300 $ 3,700 Cash 21,200 23,400 Accounts receivable 9,000 7,000 Inventory Land 20,000 26,000 Buildings 70,000 70,000 Accumulated depreciation-buildings (15,000) (10,000) Total $110,500 $120,100 Accounts payable $ 10,370 $ 31,100 Common shares 75,000 69,000 Retained earnings 25,130 20,000 Total $110,500 $120,100 $14,000. Rinker's 2017 income statement included net sales of $120,000, cost of goods sold of $70,000, and profit of Instructions Calculate the following ratios for 2017. (a) Current ratio (b) Acid-test ratio (g) Profit margin (c) Receivables turnover (h) Asset turnover (d) Collection period (i) Return on assets (e) Inventory turnover (j) Return on equity (f) Days sales in inventory (k) Debt to total assets

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Organizational Behavior Integrating Individuals Groups And Organizations

Authors: Joseph E. Champoux

4th Edition

0415804647, 9780415804646

Students also viewed these Accounting questions