Homework: HW #11 (Financial Statement Analysis) Save Score: 0 of 1 pt To follow are the balance sheets for Metro Corporation and selected comparative competitor data. (Click the icon to view the assets section of the balance sheet.) 6 of 10 (0 complete) HW Score: 0%, 0 of 10 pts Use the data to answer the following questions 1. Calculate Metro's quick (acid-test) ratio at December 31, 2018, and 2017 2. Use the comparative information from the table given for Orleans Electric, Inc., O'Neil Company, and Lavallee Foods Corporation. Is Metro's quick (acid-test) ratio for 2018 and 2017 strong, average, or weak in comparison? (Click the icon to view the liabilities and stockholders' equity sections of the balance sheet.) (Click the icon to view the quick (acid-test) ratios of other companies.) 1. Calculate Metro's quick (acid-test) ratio at December 31, 2018, and 2017. = Select the formula and then enter the amounts to calculate the acid-test ratio. (Abbreviation used: ST = short-term. Cash* = Cash and cash equivalents. Net receivables** = Net current receivables. Enter the amounts in millions as provided to you in the problem. Round the ratios to two decimal places, X.XX.) Quick ratio 2018 Data Table - X 2017 ( + + Data Table - X Metro Corporation Balance Sheet (Adapted) December 31, 2018 and 2017 More Info X Metro Corportion Balance Sheets (Adapted) December 31, 2018 and 2017 Increase (Decrease) Amount Percentage 2018 2017 Quick (acid-test) Ratio 0.74 Increase (Decrease) Amount Percentage Company Orleans Electric, Inc. (Utility) O'Neil Company (Department store) Lavallee Foods Corporation (Grocery store) (Dollar amounts in millions) Liabilities and Stockholders' Equity Current liabilities: Accounts payable Income tax payable Short-term debt 0.63 (Dollar amounts in millions) 2018 2017 $ 966 $ 12.3 % 0.66 860 $ 66 106 (24) Assets 42 (36.4) 128 12 10.3 Current assets: Cash and cash equivalents 116 68 1,210 $ 980 $ 230 Print Done 66 Other (2) (2.9) Short-term investments 14 48 1,202 1,110 (34) (38) Total current liabilities 92 23.5 % (70.8) (14.2) 45.7 8.3 Receivables, net 230 268 Long-term debt 678 22.8 Inventories 32 102 292 3,648 1,128 2.970 1,096 70 302 32 Other liabilities 2.9 Prepaid expenses and other assets (10) (3.3) 5.978 Total liabilities 5,176 802 15.5 1,848 1,668 180 Total current assets 10.8 Stockholders' equity: 3,660 3,386 274 8.1 Property, plant, and equipment, net Intangible assets Common stock 2 2 848 172 20.3 1,020 826 (6.5) 730 Other assets 96 1,534 (160) 1,640 (186) Retained earnings Accumulated other comprehensive (loss) Total stockholders' equity (106) 26 13.2 14.0 Clear All $ Total assets 7,354 $ 722 6,632 $ 10.9 % 1,376 1,456 (80) (5.5) $ 7,354 $ 6,632 $ 722 Total liabilities and stockholders' equity 10.9 % Print Done
