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Need help finding each ratios! Current ratio Il Current Assets Current Liabilities Receivable Turnover ratio = Net Sales Average Account Receivables Average collection period Il
Need help finding each ratios!
Current ratio Il Current Assets Current Liabilities Receivable Turnover ratio = Net Sales Average Account Receivables Average collection period Il 365 days Receivable Turnover Ratio Inventory turnover ratio = Cost of Goods Sold Average Inventory Average days in inventory 11 365 days Inventory Turnover Ratio Gross profit ratio 11 Gross profit Net Sales B A Byte of Accounting, Inc. Income Statement For Year Ending December 31, 2021 Revenues Sales Revenue $ 449,954.00 Cost of Goods Sold 225,021.00 Gross Profit $ 224,933.00 Operating Expenses Rent Expense Salary Expense Advertising Expense Repairs & Maint. Expense Supplies Expense Interest Expense Insurance Expense Depreciation Expense Bad Debt Expense Telephone Expense S 27 600.00 111,860.00 4.685.00 15.005.00 1,966.00 9,403.94 263.00 10,571.09 1,041.15 5.920.00 Total 188,315.18 Net Income Before Tax 36,617.82 Income Tax Expense (Round to two decimal places) 9.154.46 Net Income After Tax $ 27,463.36 A Byte of Accounting Balance Sheet As of December 31, 2021 Assets $ 279,531.50 $ 20,823.00 2.035.15 Current Assets Cash Accounts Receivable Allowance for Doubtful Accounts Net Receivable Prepaid Insurance Prepaid Rent Office Supplies Inventory Total 18.787.85 6,049.00 2,300.00 734.00 655.00 $ 308,05735 $ 65,500.00 11.671.09 $ 53,828.91 Long-Term Assets Office Equipment Accum. Depr.-Office Equipment Net Office Equipment Computer Equipment Accum. Depr.-Computer Equipment Net Computer Equipment Total Total Assets $ 23,500.00 9,400.00 14.100.00 67,928.91 $ 375,986.26 Liabilities Current Liabilities Accounts Payable Advanced Payment Interest Payable Salaries Payable Income Taxes Payable Total $ 19,351.00 8.465.00 19.80 1.410.00 9.154.46 $ 38,400.26 Stockholders Equity Unadjusted TB Der 31 Adiusted TR Dor Liabilities Current Liabilities Accounts Payable Advanced Payment Interest Payable Salaries Payable Income Taxes Payable Total $ 19,351.00 8,465.00 19.80 1.410.00 9. 154.46 $ 38,400.26 Long-Term Liabilities Notes Payable Bond Payable Premium on Bond Payable Net Bond Payable Total Total Liabilities $3,960.00 $ 150,000.00 10.042.64 160,042.64 164,002.64 $ 202,402.90 Stockholder's Equity Paid-in Capital Capital Stock Additional Paid-in-Capital Retained Earnings Total Stockholder's Equity Total Liabilities and Stockholder's Equity $ 107,500.00 17 200.00 48,883.36 173,583.36 $ 375.986.26 + Step by Step Solution
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