Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

I need someone to calculate the 2019 current ratio, quick ratio, times interest earned ratio, and return on stockholders equity with the 2 statements i

I need someone to calculate the 2019 current ratio, quick ratio, times interest earned ratio, and return on stockholders equity with the 2 statements i have screenshotted.

image text in transcribed

image text in transcribedimage text in transcribed

WP A.7 WHEELS-4-U CORPORATION CONSOLIDATED BALANCE SHEETS ($000 except share data) 12/31/20x9 12/31/20x8 ASSETS Current Assets: Cash and cash equivalents Accounts and other receivables, net Inventories Deferred income tax assets Prepaid expenses Total current assets Property, plant, and Equipment, at cost: Land and land improvements Buildings and building improvements Machinery and equipment Office furniture, fixtures, and equipment Leasehold improvements Construction in progress $1,432 101,283 49,606 9,338 12,551 174 210 0.489% 34.571% 16.932% 3.187% 4.284% 59.463% $5,419 92,850 41,847 12,227 8,755 161,098 1.928% 33.032% 14.887% 4.350% 3.115% 57.311% Less: Accumulated depreciation Net Property, plant, and Equipment Excess of cost over net assets acquired Intangible assets, net Deferred income tax assets Pension assets Other assets TOTAL ASSETS 1,621 4,611 19,403 16,210 2,322 1, 303 45, 470 (28,671) 16,799 29,627 45,313 16,539 506 9,977 $292.971 0.553 % 1.574% 6.623 % 5.533 % 0.793% 0.445% 15.520% -9.786% 5.734% 10.113% 15.467% 5.645% 0.173 % 3.405% 100.000% 1,621 4,611 18,970 17,498 2,069 933 45,702 (30, 191) 15,511 26,663 48, 112 22,484 574 6,650 $281.092 0.577% 1.640% 6.749% 6.225% 0.736% 0.332% 16.259% -10.741% 5.518% 9.486% 17.116% 7.999% 0.204% 2.366% 100.000 LIABILITIES AND SHAREHOLDERS' EQUITY Current Liabilities: Notes payable Current installments of LT obligations Accounts payable Accrued expenses: Salaries, wages, and other compensation Insurance Environmental $62,374 18,028 74,722 $54,069 5,258 65,519 21.29% 6.15% 25.50% 0.00% 1.13% 1.76% 0.30% 19.24% 1.87% 23.31% 0.00% 2.44% 2.18% 0.31% 3,313 5,152 879 6,854 6,141 879 1.76% 5,152 879 8,460 17,804 606 173,534 542 31,692 9,158 5,389 220,315 0.30% 2.89% 6.08% 0.21% 59.23% 0.19% 10.82% 3.13% 1.84% 75.20% 6,141 879 13,986 27,860 8,090 160,796 317 31,934 9,340 6,958 209,345 2.18% 0.31% 4.98% 9.91% 2.88% 57.20% 0.11% 11.36% 3.32% 2.48% 74.48% Insurance Environmental Other Total accrued expenses Other current liabilities Total current liabilities Long-term obligations, less current installments Pension liabilities Postretirement benefits other than pension Other long-term liabilities Total Liabilities Shareholders' Equity: Common stock: 60,000,000 shares authorized 22,553,280 and 21, 153,290 shares issued, and 16,037,799 and 14,637,809 shares outstanding at December 31, 2007 and 2006, respectively Additional paid-in capital Retained earnings Unearned stock compensation Accumulated other comprehensive loss Treasury shares, at cost Total Shareholders' Equity TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY 22,523 102,917 66,314 (23) (29,109) (89,966) 72,656 $292.971 7.69% 35.13% 22.64% -0.01% -9.94% -30.71% 24.80% 100.00 21,153 95, 267 73,769 (18) (28,551) (89,873) 71,747 $281.092 7.53% 33.89% 26.24% -0.01% -10.16% -31.97% 25.52% 100.00% WHEELS-4-U CORPORATION CONSOLIDATED INCOME STATEMENTS ($000 except share data) Product sales Service revenue Net sales Cost of products sold Cost of services sold Cost of sales Gross profit Selling, general, and administrative expenses Restructuring costs Operating income (loss) Other expense (income): Interest expense 12/31/20x9 $347,019 90,657 437,676 281,877 77,541 359,418 78, 258 79,872 79.29% 20.71% 100.00% 64.40% 17.72% 82.12% 17.88% 18.25% 12/31/20X8 $282,676 87,108 369,784 226,369 77,842 304, 211 65,573 57,374 76.44% 23.56% 100.00% 61.22% 21.05% 82.27% 17.73% 15.52% (1,614) -0.37% 8,199 2.22% 5,990 1.37% 1,973 0.53% DI 78, 258 79,872 17.88% 18.25% 65,573 57,374 17.73% 15.52% (1,614) -0.37% 8,199 2.22% 5,990 (363) (730) (6,511) Gross profit Selling, general, and administrative expenses Restructuring costs Operating income (loss) Other expense (income): Interest expense Interest income Other (income) expense, net Earnings (loss) before income taxes Income tax expense (benefit) Earnings (loss) from continuing operations Discontinued operations: Income (loss from discontinued operations, net of income tax provision (benefit) of $810 and $(3,182), in 2007 and 2006, respectively Loss on disposal of discontinued operations, net of income tax benefit of $84 Net loss 1.37% -0.08% -0.17% -1.49% 0.22% -1.71% 1,973 (285) 1,636 4,875 540 4,335 0.53% -0.08% 0.44% 1.32% 0.15% 1.17% 966 (7,477) 926 0.21% (5,713) -1.54% (904) $7.455 -1.70% $1378) -0.37%

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

Internal Audit Leadership Elevating The Internal Audit Function To Accelerate Value

Authors: Patricia Kaim

1st Edition

1032557168, 978-1032557168

More Books

Students also viewed these Accounting questions