Answered step by step
Verified Expert Solution
Question
1 Approved Answer
Please calculate the following ratios Asset Turnover (Net Sales / average total assets) Current Ratio ROA Multi-Step Income Statement For Year Ended December 31 2021
Please calculate the following ratios
Asset Turnover (Net Sales / average total assets) Current Ratio ROA
Multi-Step Income Statement For Year Ended December 31 2021 Balance Sheet As of 12/31/2021 Statement ot Cash Flows For Year Ended December 31 2021 sales Change in AIR d Debts cost of GoodkS6i4 Change in Alp Loans to other bu of Land Equipm $ Is? ,822 $137,483 $37,200 portion L sco,soo Ide,' Less: sales Discounts saies FD hipping Expense Administrative Expens "7,200 5384,750 LIZ_ZII $481.sso $7.B18.oso $L77a.302 31,408.142 ($26,325) [$422,487) _E53Q_ $107 current Assets current Assets $151,875 $14,225 $111,375 $754,464 ss,0B3 $354,37s t4ss.400 $83,883 $3,sss $31,388 tao.7E.o $25,313 2021 $370,000 $723,000 $872,000 Mao,7so $101,250 $324,000 $243,000 $648,000 $121,500 ss 522 805 2020 '405.000 ($202,500) $121,500 $324,000 $243,000 $567,000 $567,000 $121,500 $4 374 ooo Change in Change in Repayment of Loans ($202,305)! $162,000 ($ss,2sov ($283,373 sss.483 $81,000 (S4,osoj ($324,000) $486,000 Consulting and Legal Fees Exper Executive Salaries Expense Depreciation Expense Insurance Expense Miscelianeous Admin E:qpenses Office Supplies Expense Utilities Expense Administrative Expens Rent Revenue Intevest Expens Income from Continuing Income Tax Expens Liabilities and Stockholders' E ss7,30s $202,500 $1.33B.soo $32S,soo ($38,120) I $388 880 Stockho\de common Stock Addi'ional Pad authorized, SOO,OOOo u tanding) $243,000 ss 4ss sas $121,500 $11.2so $40,500 $830,250 $243,000 $648,000 '831.000 ssoo.ooo $2as.aoo $1,sos.7so '2,652.750 T al Liabilities and Stockho $4 374 ooo
Step 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