looking for some help, thank you in advance. i got this answered before and it was completely different numbers
Presented below are the computed amounts of ratios for the Village of Riverside example appearing in the chapter. Required: a. Using the financial statements provided in Illustrations 2-5 through 2.11. compute ratios for the City of Salem. Assume the population of Salem is 52,000 and the fair value of property totals $970 million b. For each ratio, indicate which of the two governments has a stronger financial position (Round "Debt per Capito" answer to the nearest whole dollar and other answers to 2 decimal places.) City of Salem % % 101Financial Position government-vide, governmental activities) (2) Financial Position (General Fund) (3) Quick Ratio (government wide governmental activities) (4) Leverage (government wide, primary government) (5) Debt Service Coverage (enterprise funds) (6) Debt Services to Total Expenditures (governmental fund-basis) (7) Debt per Capita (government-wide primary government Debt to Assessed Value of Property (government-wide primary government Village of Riverside 10% 11 % 232 0.11 25 times 4 $ 468 468 % Stronger Ratio V | Saler City of Salem Village of Riverside Vilage of Riverside Village of Riverside Village of Riverside Village of Riverside Village of Riverside times * % Example Comprehensive Annual Financial Report Financial Section: Busis Financial Statements Government wide Financial Statements Statoment of Nct Position ILLUSTRATION 2-5 Statement of Net Position CITY OF SALEM Statement of Net Position As of December 31, 2020 Primary Government Governmental Activities $ 8,242.998 3,312,992 1,072,963 Business-type Activities $ 4,814.724 10.350.334 30.779 Primary Government $13,057,722 13,663,326 1,103,742 Component Units $ 84,733 Assets Cash and cash equivalents Investments Inventory Receivables (nety Taxes receivable Accounts receivable Due from other governments Restricted assets Capital assets (net of accumulated depreciation Total assets 2.872,611 722,215 2,657,326 2.872,611 3,379.541 27.085 1.328,448 3,933,126 1.328,448 6.228.159 2.295,043 65,690,373 87,175.726 48,894,402 59,042,608 114,584.775 156,218,334 11.170.900 11.282718 2,425,447 4.340, 108 493,849 173.168 2.919.296 4,813.276 710 2.164.52 1.342.717 3.5072238 Liabilities Accounts payable Accrued liabilities Bonds payable due within one year Bonds payable due in more than one year Total liabilities Net position Net investment in capital assets Betricted Urttestricted Total het position 39.834.882 48.764,958 18,858,187 21.167.921 58.693.069 59.932 879 710 11.197.985 23.690,970 3933120 10,785,672 $38.410.758 30,757.135 2295043 14,822509 $47874.69 54.448,105 512169 25.609.181 $86 285.155 84023 $112522000
