Answered step by step
Verified Expert Solution
Question
00
1 Approved Answer
Please help me calculate Part B (RATIOS) This is the data from the Balance Sheet. 206,500 B. Create formulas for each ratio listed below to
Please help me calculate Part B (RATIOS)
This is the data from the Balance Sheet.
206,500 B. Create formulas for each ratio listed below to properly compute the ratios: RATIOS: Working Capital $ 303,000 $ Current Ratio ? ? Quick Ratio (#.## to 1) ? ? Debt Ratio ? ? Equity Ratio ? ? Asset to Equity ? ? Debt to Equity ? ? Cash Ratio ? ? Silver Tone Partners, Inc. BALANCE SHEETS As of December 31, 2016 & 2015 2016 2015 Variance ASSETS Current Assets Cash Accounts Receivable Inventory Total Current Assets $ $ $ $ $ $ 310,000 46,750 6,250 363,000 195,500 21,000 35,000 251,500 114,500 25,750 28,750 111,500 $ $ $ $ $ $ Property, Plant & Equipment Furniture & Equipment Accumulated Depreciation Total Property, Plant & Equipment 13,000 2,500 10,500 3,000 500 2,500 10,000 2,000 8,000 $ $ $ $ $ $ Other Assets Prepaid Rent Prepaid Insurance Total Other Assets 4,000 3,000 7,000 2,000 2,000 4,000 1,000 5,000 $ $ $ TOTAL ASSETS S 380,500 $ 256,000 $ 124,500 $ $ $ LIABILITIES & STOCKHOLDER'S EQUITY Current Liabilities Accounts Payable Payroll Payable Notes Payable (current) Accrued Expense Total Current Liabilities 42,500 2,000 38,000 8,000 12,000 2,000 60,000 4,500 6,000 12,000 1,500 15,000 500 45,000 S $ $ Long Term Liabilities Notes Payable (Long term) Total Long Term Liabilities $ $ 88,000 88,000 $ $ $ $ 88,000 88,000 Total Liabilities $ 148,000 $ 45,000 $ 103,000 $ $ $ Stockholder's Equity Capital Stock Retained Earnings Total Stockholder's Equity 1,000 231,500 232,500 1,000 210,000 211,000 21,500 21,500 $ $ $ TOTAL LIABILITIES & STOCKHOLDER'S EQUITY $ 380,500 $ 256,000 $ 124,500Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access with AI-Powered 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