Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Please calculate Working Capital, Current Ratio, Quick Ratio, Inventory Turnover, Number of Days Sales in Ending Inventory, A/R Turnover, Number of Days Sales Uncollected, ROA/ROI,

image text in transcribed

Please calculate Working Capital, Current Ratio, Quick Ratio, Inventory Turnover, Number of Days Sales in Ending Inventory, A/R Turnover, Number of Days Sales Uncollected, ROA/ROI, ROE, Debt Ratio, Equity Ratio and Debt-to-Equity Ratio. All answers should be computed to the nearest tenth (i.e., X.X) or tenth of a percent (X.X%).

Please show your work required to calculate each answer

Slayer Inc. Year 2 Income Statement: Required: Sales COGS Gross Margin Op. Expenses Op. Income Loss on Disposal Income Before Taxes Taxes Net Income $ 1,250,000 715,000 535,000 305,000 230,000 15,000 215,000 65,000 150,000 1) Compute Current Ratio & Quick Ratio ii) Compute the four Efficiency Ratios iii) Compute the five Profiotabilty Ratios iv) Compute the three Solvency Ratios v) Complete the Quiz on Canvas Comparative Balance Sheets: Year 2 40,000 205,000 225,000 25,000 495,000 Assets Cash AIR Inventory Prepaids Total Current Assets Long Term Investments Property, Plant & Equipment Accum. Depreciation Net Property, Plant & Equipment Total Assets Year 1 25,000 215,000 180,000 15,000 435,000 15,000 25,000 435,000 (120,000) 315,000 350,000 (80,000) 270,000 720,000 835,000 Liabilities AP Unearned Revenue Total Current Liabilities 145,000 20,000 165,000 175,000 45,000 220,000 Long Term Note Payable 140,000 145,000 Total Liabilities 305,000 365,000 Equity Common Stock Retained Earnings Total Owners' Equity Total Liabilities & Equity 370,000 160,000 530,000 260,000 95,000 355,000 835.000 720.000

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

Corporate Financial Reporting In A Competitive Economy (RLE Accounting)

Authors: Herman W. Bevis

1st Edition

1138966819, 9781138966819

More Books

Students also viewed these Accounting questions