Question
Mulder Corporations comparative balance sheets are presented below. MULDER CORPORATION Balance Sheets December 31 2020 2019 Cash $11,160 $3,700 Accounts receivable 14,580 25,800 Inventory 10,080
Mulder Corporations comparative balance sheets are presented below. MULDER CORPORATION Balance Sheets December 31 2020 2019 Cash $11,160 $3,700 Accounts receivable 14,580 25,800 Inventory 10,080 8,500 Land 28,900 27,700 Building 78,900 78,900 Accumulated depreciation (14,400 ) (13,100 ) Total $129,220 $131,500 Accounts payable $18,000 $30,200 Common stock ($5 par) 65,000 65,000 Retained earnings 46,220 36,300 Total $129,220 $131,500 Mulders 2020 income statement included net sales of $100,950, cost of goods sold of $65,030, and net income of $20,190. Compute the following ratios for 2020. (Round Current ratio, Acid-test ratio, Accounts receivable turnover, Inventory turnover, Asset turnover and Earnings per share to 2 decimal places, e.g. 15.25 or 15.25%. Round Debt to assets ratio to 1 decimal place, e.g. 15.2%. Round other answers to 0 decimal places, e.g. 15 or 15%.)
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started