Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

OG Corporation's balance sheet and income statement is listed below. PLEASE answer this with appropriate ways, write on papers on type it with tables, so

OG Corporation's balance sheet and income statement is listed below. PLEASE answer this with appropriate ways, write on papers on type it with tables, so everyone can understands. Please show the solution and the reason. Thank you SO MUCH
image text in transcribed
OG Corporation's balance sheet and income statement is listed below. Oher data: - Cash dividends paid this year were \$21,000. - The change in accumulated depreciation accoount is the depreciation for the year. 1. Answer the following five questions penaining to the OG Corporation and be specific. Prepare a common size vertical analysa of OGs balance sheet in good form. Round percentages fo one decimal place (5 points) 2. Prepare a common siat vertical anaysis of OGs income stalement and reconcile the rotained earnings accourt. Rlound percertages to one decimal place. (5 points) 3. Prepare the current year statement of canh flows for OG Corporafon using the indirect method and reconcle the cash account. (5 points) 4. Based on the financial statements propared in equestions (1) and (2), calculate the efficiency ratiot. lequidiny ratios, ieverage ratios, and proftubility ratios for OOC Corperation for this year. Where data is avalable, also calculate ratos for lant year. Une a 3to-day year. Al. sales are on credt to business customen. Assume an income tax rate of 30 percent. (7 points) 5. Based upon your answers to parts (1) tuough (4) mould you provide a creda line to this company? Support your decision by relerence to your work in parts (1) trough (4). (200 peints

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Students also viewed these Accounting questions