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Please help me find the times interest earned ratio! Thanks!! Required: 1. Calculate the following risk ratios for 2022. (Use 365 days in a year.
Please help me find the times interest earned ratio! Thanks!!
Required: 1. Calculate the following risk ratios for 2022. (Use 365 days in a year. Round your intermediate calculations and final answers to 1 decimal place.) Answer is complete but not entirely correct. a. 7.6 times b. Receivables turnover ratio. (Hint: Use net sales revenues for net credit sales) Average collection period. Inventory turnover ratio. Average days in inventory. 48.0 days 8.4 times C. d. 43.5 days e. Current ratio. 2.4 to 1 f. 2.4 to 1 g. Acid-test ratio. (Hint: There are no current investments) Debt to equity ratio. Times interest earned ratio. 71.9% h. 19.4 X times Income statement and balance sheet data for Great Adventures, Inc., are provided below. $189, 230 360 GREAT ADVENTURES, INC. Income Statement For the year ended December 31, 2022 Net sales revenues Interest revenue Expenses : Cost of goods sold $39, 700 Operating expenses 66,040 Depreciation expense 18,450 Interest expense 9,777 Income tax expense 15,700 Total expenses Net income 149,667 $ 39,923 GREAT ADVENTURES, INC. Balance Sheets December 31, 2022 and 2021 2022 2021 $ 283, 118 49,760 9,400 1,140 $ 64,740 0 0 5,460 740,000 860,000 86,720 (27,650) $2,002,488 0 0 52,000 (8,600) $113,600 Assets Current assets: Cash Accounts receivable Inventory Other current assets Long-term assets: Land Buildings Equipment Accumulated depreciation Total assets Liabilities and Stockholders' Equity Current liabilities: Accounts payable Interest payable Income tax payable Other current liabilities Notes payable (current) Notes payable (long-term) Stockholders' equity: Common stock Paid-in capital Retained earnings Treasury stock Total liabilities and stockholders' equity $ $ 3,280 870 23, 200 1,350 15,700 28, 200 72,259 697,086 14,240 0 0 32,400 144,000 1, 122,400 60,293 (162,000) $2,002,488 28,160 0 34,650 0 $113,600 nto 20 SuidStep by Step Solution
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