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Monty Company has been operating for several years, and on December 31, 2020, presented the following balance sheet. MONTY COMPANY BALANCE SHEET DECEMBER 31, 2020
Monty Company has been operating for several years, and on December 31, 2020, presented the following balance sheet.
MONTY COMPANY BALANCE SHEET DECEMBER 31, 2020 | ||||||
---|---|---|---|---|---|---|
Cash | $43,500 | Accounts payable | $82,800 | |||
Receivables | 70,300 | Mortgage payable | 136,200 | |||
Inventory | 103,400 | Common stock ($1 par) | 145,300 | |||
Plant assets (net) | 227,900 | Retained earnings | 80,800 | |||
$445,100 | $445,100 |
The net income for 2020 was $24,200. Assume that total assets are the same in 2019 and 2020. (a) Compute each of the following ratios. (Round answers to 2 decimal places, e.g. 1.59 or 45.87%.)
(a) | Current ratio | enter the Current ratio rounded to 2 decimal places | |||
---|---|---|---|---|---|
(b) | Acid-test ratio | enter the Acid-test ratio rounded to 2 decimal places | |||
(c) | Debt to assets ratio | enter the Debt to assets ratio in percentages rounded to 2 decimal places | % | ||
(d) | Return on assets | enter the Return on assets in percentages rounded to 2 decimal places | %
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