Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Please answer ones in yellow, thanks! .com/ext/map/index.htm Reprt Saved 3 Balance Sheet 4 Cash $ 2016 185,000 $ 80,000 104,000 11,900 380,900 514,500 895,400 $

Please answer ones in yellow, thanks!
image text in transcribed
image text in transcribed
.com/ext/map/index.htm Reprt Saved 3 Balance Sheet 4 Cash $ 2016 185,000 $ 80,000 104,000 11,900 380,900 514,500 895,400 $ 2015 143,000 59,000 134,000 5,880 341,880 407,000 748,880 $ $ 5 Accounts Receivable, Net 6 Inventory 7 Prepaid Insurance 8 Total Current Assets 9 Property and Equipment, Net 10 Total Assets 11 12 Current Liabilities 13 Long-term Liabilities 14 Total Liabilities 15 Contributed Capital 16 Retained Earnings 17 Total Stockholders' Equity 18 Total Liabilities and Stockholders' Equity 19 20 Income Statement 21 Net Sales (all on account) 22 Cost of Goods Sold 23 Gross Profit 24 Operating Expenses 25 Income from Operations Sheet1 85,300 $ 284,000 369,300 299,000 227,100 526,100 895,400 $ 96,800 224,000 320,800 299,000 129,080 428,080 748,880 $ $ 3,031,000 1,949,000 1,082,000 891,400 190.600 Saved $ 129,100 29 Net Income 30 31 Required: 32 Compute the following liquidity ratios for 2016. Round to the 33 required number of decimal places USING THE EXCEL 34 ROUND FUNCTION (fx). 35 Current ratio (rounded to one decimal place) 36 Receivables turnover (rounded to two decimal places) 37 Days to collect (rounded to the nearest whole day) 38 Inventory turnover (rounded to two decimal places) 39 Days to sell (rounded to the nearest whole day) 41 Compute the following Solvency Ratios for 2016. Again, USE 42 THE EXCEL ROUND FUNCTION (fx). Debt to assets (rounded to two decimal places) 44 Times interest earned (rounded to one decimal place) 46 Compute the following Profitability Ratios for 2016. Again, USE 47 THE EXCEL ROUND FUNCTION (fx). Net profit margin (rounded to one decimal place) Gross profit percentage (rounded to one decimal place) to 1 times days times days 40 43 to 1 times 45 48 49 percent percent 50 51 Sheet1 ch o O

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

Recommended Textbook for

Comparative International Accounting

Authors: Christopher Nobes, R. H. Parker

6th Edition

0273646028, 978-0273646020

More Books

Students also viewed these Accounting questions