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please help asap!! and please complete the whole question Mountainside Manors, Inc., builds environmentally sensitive structures. The company's 203 revenues totalled $2,500 million. On December
please help asap!! and please complete the whole question
Mountainside Manors, Inc., builds environmentally sensitive structures. The company's 203 revenues totalled $2,500 million. On December 31,203, and 202, the company had $645 million and $589 million in current assets, respectively. Accounts payable at the end of 201 was $188 million. The December 31,203, and 202, balance sheets and income statements reported the amount that follow. Read the requirements. Requirement 1. Describe each liability of Mountainside Manors, Inc., and state how the liability arose. Choose the correct liability from the list that best fits the description provided. Amounts owed to suppliers for products or services that have been purchased on account. Expenses that the company has incurred but not yet paid; these are liabilities for expenses such as interest and income taxes. Amounts owed to employees for salaries and other payroll-related expenses. Next year's principal payment on the company's long-term debt. The amount of long-term notes and bonds payable due more than one year after the balance sheet date. The company's liabilities for providing benefits mainly healthcare- to retirees. A catch-all group of liabilities that do not fit one of the more specific categories. These are long-term debts as shown by the fact that they are not listed among the current liabilities. Requirement 2. Evaluate whether the company's ability to pay its long-term debts improved, deteriorated, or remained about the same over the year. What were the company's total assets as of December 31,203 ? Evaluate the company's leverage and debt ratio at the end of 202 and 203. Did the company improve, deteriorate, or remain about the same over the year? Begin by computing the debt ratios. (Round your answers to two decimal places.) Begin by computing the debt ratios. (Round your answers to two decimal places.) What was the debt ratio for 203 ? What was the debt ratio for 202? For the leverage ratio, first determine the formula. Then, complete the formula and calculate the leverage ratios at the end of 202 and 203. (Enter amounts in millions as provided in the problem statement. Round your answers to two decimal places.) \begin{tabular}{|c|c|c|} \hline & + & = Leverage ratio \\ \hline 203 & + & = \\ \hline 202 & + & = \\ \hline \end{tabular} Did the company improve, deteriorate, or remain about the same over the year? Both the leverage ratio and debt ratio in 20X3. The company's ability to pay its long-term debts over the year. Requirement 3. Evaluate whether the company's ability to pay its short-term debts improved, deteriorated, or remained about the same over the year. Determine the formula for the accounts payable turnover. Then, complete the formula and calculate the accounts payable turnover ratios at the end of 202 and 20X3. (Enter amounts in millions as provided in the problem statement. Round your answers to two decimal places.) Next, determine the formula for the days payable outstanding (DPO). Then, complete the formula and calculate the days payable outstanding at the end of 202 and 20X3. (Enter amounts in millions as provided in the problem statement. Round your answers to the nearest whole number.) Mountainside Manors, Inc., builds environmentally sensitive structures. The company's 203 revenues totalled $2,500 million. On December 31 , 20X3, and 202, the company had $645 million and $589 million in current assets, respectively. Accounts payable at the end of 201 was $188 million. The December 31,203, and 202, balance sheets and income statements reported the amount that follow. View the financial statements. Read the requirements. Requirement 3. Evaluate whether the company's ability to pay its short-term debts improved, deteriorated, or remained about the same over the year. Determine the formula for the accounts payable turnover. Then, complete the formula and calculate the accounts payable turnover ratios at the end of 202 and 20X3. (Enter amounts in millions as provided in the problem statement. Round your answers to two decimal places.) 20x 20x Next, determine the formula for the days payable outstanding (DPO). Then, complete the formula and calculate the days payable outstanding at the end of 202 and 20X3. (Enter amounts in millions as provided in the problem statement. Round your answers to the nearest whole number.) 26 26 Now, determine the formula for the current ratio. Then, complete the formula and calculate the current ratios at the end of 20X2 and 20X3. (Round your answers to two decimal places.) 2 2 Evaluate whether the company improved or deteriorated from the standpoint of ability to cover accounts payable and current liabilities. The company's ability to pay its short-term debts over the year Financial statements Requirements 1. Describe each liability of Mountainside Manors, Inc., and state how the liability arose. 2. Evaluate whether the company's ability to pay its long-term debts improved, deteriorated, or remained about the same over the year. 3. Evaluate whether the company's ability to pay its short-term debts improved, deteriorated, or remained about the same over the yearStep by Step Solution
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