Last Year $57,660 83,600 110.420 251,680 67,340 230,700 $549,720 146 Exam Company 147 Balance Sheet 148 As for December 31 149 Current Year 150 Cash $53,900 151 Accounts Receivable, Net 83,870 152 Merchandise Inventory 110.940 153 Total Current Assets 248,710 154 Long Term Investments 84,800 155 Plant Assets, Net 203,700 156 TOTAL ASSETS $537,210 157 158 Accounts Payable $67,900 159 Salaries Payable 14,230 160 Total Current Liabilities 82,130 161 Long Term Liabilities 46500 162 Total Liabilities 128,630 163 164 Paid in Capital 315,420 165 Retained Earnings 93,160 166 Total Equity 408,580 167 TOTAL LIABILITIES AND EQUITY $537,210 168 $58,600 14,400 73,000 107,300 180,300 307,120 62,300 369,420 $549,720 HO 0 Exam Company 1 Income Statement 2 For Year Ending December 31 3 Sales Revenue $278,000 4 Cost of Goods Sold 180,700 5 Gross Profit 97,300 6 Selling expenses 45,600 7 Admin expenses 53,460 8 Total Operating Expenses 99,060 9 Net Income $1,760 30 31 32 a. Calculate the Current Ratio for Current Year (show formula as well) 83 84 Current Ratio = 85 86 87 b. Calculate the Current Year AR Turnover and Days Sales Uncollected Ratios (show formulas) 88 89 AR Turnover = 90 91 92 Days Sales Uncollected 193 194 95 96 c. Calculate the Current Year Inventory Turnover and Days Sales in Inventory Ratio (show formulas) 97 98 Inventory Turnover = 99 200 201 Days Sales in Inventory = P02 P03 204 205 d. Explain what these ratios tell you specifically about this company. 206 207 208 209