Answered step by step
Verified Expert Solution
Question
1 Approved Answer
Part 2 of this question please part a-m The Final Stop STATEMENT OF INCOME For the Year Ended November 30, 2019 Revenue: Sales Total Revenue
Part 2 of this question please part a-m
The "Final" Stop STATEMENT OF INCOME For the Year Ended November 30, 2019 Revenue: Sales Total Revenue $ 145 145 Cost of Goods Sold: Gross Profit: -54 91 Expenses and Losses: Salaries Depreciation Advertising Interest Miscellaneous 15 11 10 8 3 47 Net Income 44 The "Final" Stop STATEMENT OF FINANCIAL POSITION November 30, 2019, and November 30, 2018 30-Nov-19 30-Nov-18 $ ASSETS: CASH ACCOUNTS RECEIVABLE INVENTORY PREPAID ADVERTISING EXPENSE AVAILABLE-FOR-SALE (long-term) INVESTMENTS PLANT ASSETS ACCUMULATED DEPRECIATION TOTAL ASSETS 87 $ 9 15 14 48 40 -22 94 11 12 10 55 30 -11 $ 191 $ 201 4 10 3 8 LIABILITIES AND EQUITY ACCOUNTS PAYABLE ACCRUED SALARIES PAYABLE INTEREST PAYABLE DIVIDENDS PAYABLE BONDS PAYABLE COMMON STOCK($ 2 Par per share) RETAINED EARNINGS TOTAL LIABILITIES AND EQUITY 2 8 82 40 46 3 2 70 40 74 $ 191 $ 201 Additional information: Market value of a share of Company's common stock was $33 as of November 30, 2019 Instructions: 1. Prepare a statement of Cash Flows-using the indirect method for operating activities to present the operating activities. 2 Prepare the following ratios (for the most recent year). a. Current ratio b. Quick ratio c. Current cash debt coverage d. Accounts Receivable turnover e. Inventory turnover f. Return on assets g. Return on Common Stockholders' Equity h. Earnings per Share i. Price earnings ratio j. Payout ratio k. Debt to total assets ratio 1. Times-interest earned m. Tell me about the financial leverage of The Testing Co.--BE SPECIFICStep 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