Joe's Fish Hut Balance Sheet As at May 31 2016 2015 ASSETS Current Assets Cash Accounts receivable Inventory Total Current Assets Property, plant & equipment Less: Accumulated depreciation TOTAL ASSETS $166,143 $55,200 $20,500 $15,200 $23,800 $29,300 $210,443 $99,700 $150,000 $185,000 $-27,800 $-20,200 $332,643 $264,500 LIABILITIES AND EQUITY Liabilities Current Liabilities Accounts payable $30,800 $35,600 Current portion of bank loan $7,900 $7,900 Total Current Liabilities $38,700 43,500 Non-current portion of bank loan $82,000 $46,000 TOTAL LIABILITIES $120,700 $89,500 Shareholders' Equity Common shares $73,000 $54,400 Retained earnings $138,943 $120,600 TOTAL SHAREHOLDERS' EQUITY $211,943 $175,000 TOTAL LIABILITIES AND EQUITY $332,643 $264,500 Joe's Fish Hut Income Statement For the Year Ended May 31, 2016 Sales $132,000 COGS $81,700 Gross Profit $50,300 Operating Expenses Insurance Expense $810 Rent Expense $5,620 Salaries Expense $5,770 Telephone Expense Interest Expense $1,660 Depreciation Expense $7,600 Total Operating Expenses $22,080 Operating Profit Before Tax $28,220 Income Tax Expense $9,877 Net Profit (Loss) $18,343 $620 Complete the following ratio analysis. Do not enter dollar signs or commas in the input boxes. Round all answers to 2 decimal places. a) Calculate the gross profit margin for the 2016. Gross Profit Margin: 38.11 % b) Calculate EBIT as a percentage of sales for 2016. EBIT Percentage of Sales: 21.38 c) Calculate the interest coverage ratio for 2016. Interest Coverage Ratio: times d) Calculate the net profit margin for 2016. Net Profit Margin: e) Calculate the return on equity for 2016. Return on Equity: f) Calculate the return on assets for 2016. Return on Assets: % g) Calculate the asset turnover ratio for 2016. Asset turnover: times h) Calculate the current ratio for 2016. Current Ratio: i) Calculate the quick ratio for 2016. Quick Ratio: j) Calculate the debt to equity ratio for 2016. Debt to Equity Ratio: k) Calculate the days sales outstanding ratio for 2016. Assume all sales are credit sales. Days sales outstanding: days D) Calculate the accounts receivable turnover for 2016. Assume all sales are credit sales Accounts Receivable turnover: times m) Calculate the inventory days on hand ratio for 2016. Inventory Days on Hand: days n) Calculate the inventory turnover for 2016. Inventory turnover: times 0) Calculate the debt to assets ratio for 2016. Debt to Assets Ratio: p) Calculate the working capital for 2016. Working Capital
