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only need (F) and (G) Presented here are the comparative balance sheets of Hames Inc. at December 31, 2020 and 2019. Sales for the year
only need (F) and (G)
Presented here are the comparative balance sheets of Hames Inc. at December 31, 2020 and 2019. Sales for the year ended December 31, 2020, totaled $630,000 2019 $ 19,000 72,000 99,000 $190,000 40,000 110,000 (60,000) $280,000 HAMES INC. Balance Sheets December 31, 2020 and 2019 2020 Assets Cash $ 20,000 Accounts receivable 78,000 Merchandise inventory 103,000 Total current assets $ 201,000 Land 50.000 Plant and equipment 125,000 Less: Accumulated depreciation (65,000) Total assets $311,000 Liabilities Short-term debt $ 18,000 Accounts payable 64,400 Other accrued liabilities 20,000 Total current liabilities $102,400 Long-term debt 22,000 Total liabilities $124,400 Stockholders' Equity Common stock, no par, 100,000 shares authorized 40,000 and 25,000 shares issued, respectively $ 74,000 Retained earnings: Beginning balance $ 81,000 Net income for the year 51,600 Dividends for the year (20.000) Ending balance $112,600 Total stockholders' equity $186,600 Total liabilities and stockholders $311,000 equity $ 17,000 75,000 18,000 $110,000 30,000 $140,000 S 59,000 $ 85,000 1,000 5,000) $ 81,000 $140,000 $280,000 Required: a. Calculate ROI for 2020. (Do not round intermediate calculations. Round your final answer to 2 decimal places.) b. Calculate ROE for 2020. (Round your answer to 1 decimal place.) c. Calculate working capital at December 31, 2020, d. Calculate the current ratio at December 31, 2020. (Round your answer to 2 decimal places.) e. Calculate the acid-test ratio at December 31, 2020. (Round your answer to 2 decimal places.) E Assume that on December 31, 2020, the treasurer of Hames decided to pay $15,000 of accounts payable. What impact, if any, this payment will have on the answers you calculated for parts o-d (increase, decrease, or no effect). 9. Assume that instead of paying $15,000 of accounts payable on December 31, 2020. Hames collected $15.000 of accounts receivable. What impact, if any, this receipt will have on the answers you calculated for parts ad increase decrease, or no effect). 17.46% 1 ROI b. ROE C. Working capital d. Current ratio e. Acid test ratio 1. ROI ROE Working capital Current ratio 9. ROT ROE Working capital Current ratio Step by Step Solution
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