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Ive posted this once and the answer was completely wrong Ness Company Balance Sheets December 31 (in thousands) 2020 2019 $320 420 430 140 1,310
Ive posted this once and the answer was completely wrong
Ness Company Balance Sheets December 31 (in thousands) 2020 2019 $320 420 430 140 1,310 370 $350 430 380 160 1,320 380 Current assets Cash and cash equivalents Accounts receivable (net) Inventory Prepaid expenses Total current assets Property, plant, and equipment (net) Investments Intangibles and other assets Total assets Current liabilities Long-term liabilities Stockholders' equity-common Total liabilities and stockholders' equity 1 10 520 $2,201 $740 451 1,010 $2,201 470 $2,180 $780 390 1,010 $2,180 Ness Company Income Statements For the Years Ended December 31 (in thousands) 2020 2019 Sales revenue $3,860 $3,460 Costs and expenses Cost of goods sold 940 900 Selling & administrative expenses 2,450 2,380 Interest expense Total costs and expenses 3,400 3,300 Income before income taxes 460 160 Income tax expense Net income $276 596 20 64 Compute the following ratios for 2020 and 2019. Inventory on December 31, 2018, was $370. Assets on December 31, 2018, were $1,920. Equity on December 31, 2018, was $850. (Round current ratio and inventory turnover to 2 decimal pl 2020 2019 (a) Current ratio (b) Inventory turnover times times (c) Profit margin (d) Return on assets (e) Return on common stockholders' equity (f) Debt to assets ratio (9) Times interest earned times times Click if you would like to Show Work for this question: Open Show WorkStep by Step Solution
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