Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

please answer a1- liquidity profitability December 31 Assets 2022 2021 Cash $69.290 $68,060 Debt investments (short-term) 53,000 42.000 Accounts receivable 106,000 90,000 Inventory 238,000 163,000

image text in transcribed
image text in transcribed
image text in transcribed
image text in transcribed
image text in transcribed
image text in transcribed
image text in transcribed
please answer
a1- liquidity
profitability
December 31 Assets 2022 2021 Cash $69.290 $68,060 Debt investments (short-term) 53,000 42.000 Accounts receivable 106,000 90,000 Inventory 238,000 163,000 Prepaid expenses 24,000 27,000 Land 134,000 134,000 Building and equipment (net) 259,000 183,000 Total assets $883,290 $707.060 Liabilities and Stockholders' Equity Notes payable $173,974 $103,000 Accounts payable 66,000 54,000 Accrued liabilities 40,000 40,000 Bonds payable, due 2025 250,000 169,000 Common stock, $10 par 208,000 208,000 Retained earnings 145,316 133,060 Total liabilities and stockholders' equity $883,290 $707.060 CARLA VISTA COMPANY Income Statements For the Years Ended December 31 2022 2021 Sales revenue $891,800 $792,000 Cost of goods sold 641,600 571,950 Gross profit 250,200 220,050 Operating expenses 192,233 164,610 Net income $ 57,967 $ 55,440 Additional information: 1. Inventory at the beginning of 2021 was $116,000. 2. Accounts receivable (net) at the beginning of 2021 were $90,000. Total assets at the beginning of 2021 were $634,000. 3. 4. No common stock transactions occurred during 2021 or 2022. 5. All sales were on account. (a1) Compute the liquidity and profitability ratios of Carla Vista Company for 2021 and 2022. (Round current ratio, asset turnover and earnings per share to 2 decimal places, es 1.83 and all other answers to 1 decimal place, eg. 1.8 or 1.8%. If % change is a decrease show the numbers as negative, e... -1.83% or (1.83%)) 2022 2021 LIQUIDITY Current ratio .1 1 Accounts receivables turnover times times Inventory turnover times times ute the liquidity and profitability ratios of Carla Vista Company for 2021 and 2022. (Round current ratio, asset turnover and ngs per share to 2 decimal places, eg 1.83 and all other answers to 1 decimal place, eg. 18 or 1.8%. If % change is a decrease show umbers as negative, eg. -1.83% or (1.83%).) 2022 2021 % Change :1 :1 arover times times times times Question 9 of 9 -/1 2022 2021 % Change PROFITABILITY Profit margin % 96 Asset turnover times times Return on assets % % Earnings per Share $

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_2

Step: 3

blur-text-image_3

Ace Your Homework with AI

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

Get Started

Recommended Textbook for

Audits

Authors: Arthur E Cutforth

1st Edition

1017097445, 978-1017097443

More Books

Students also viewed these Accounting questions

Question

Be aware of the forces that affect group and team cohesiveness.

Answered: 1 week ago