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i need a little walkthrough on all of these, im so lost! please and thank you this is all the information i was provided Discussion

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i need a little walkthrough on all of these, im so lost! please and thank you

this is all the information i was provided

Discussion 5 The accounting records of Burgess Foods, Inc., include the following items at December 31, 2018. Mortga e notes payable, current portions.. Leases Paybale (long term)........ Bonds Payable Long Term......... Mortgage notes payable, long term........ Bonds payable, current portion. Interest Expense.. Total assets..............$5,400,000 $86,000 Accum Depreciation 445,000 equipment. 162,000 250,000 Discount on bonds payable (all long term......... 21,000 315,000 Operating income..... 360,000 300,000 Equipment............... 747,000 227,000 Long-term invest. (market value........ 400,000 Interest payable....... 70,000 Interest payable....... 70,000 1. Show how each relevant item would be reported on the Burgess Foods classified balance sheet. Include headings and totals for current liabilities and long-term liabilities. 2. Answer the following questions about Burgess Food's financial position at December 31, 2018: A. What is the carrying amount of the bonds payable (combine the current and long-term amounts)? B. Why is the interest payable amount so much less than the amount of interest expense? 3. How many times did Burgess Foods cover its interest expense during 2018? 4. Assume that all of the existing liabilities are included in the information provided. Calculate the leverage ratio and debt ratio of the company. Use year-end figures in place of averages where needed for the purpose of calculating ratios in this problem. Evaluate the health of the company from a leverage point of view. Assume the company only has common stock issued and outstanding. What other information would be helpful in making your evaluation? 5. Independent of your answer to number 4, assume that Footnote 8 of the financial statements includes commitments for long-term operating leases over the next 15 years in the amount of $4,000,000. If the company had to capitalize these leases in 2018 how would it change the leverage ratio and debt ratio? How would the impact your assessment of the company's health from a leverage point of view? DH ni e

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