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Please help solve! I am missing a step. Thanks! Problem 4.37 Modern Appliances Corporation has reported its financial results for the year ended December 31,
Please help solve! I am missing a step. Thanks!
Problem 4.37 Modern Appliances Corporation has reported its financial results for the year ended December 31, 2013.Modern Appliances Corporation Income Statement for the Fiscal Year Ended December 31, 2013 | |
Net sales | $5,398,412,000 |
Cost of goods sold | 3,432,925,255 |
Gross profit | $1,965,486,745 |
Selling, general, and administrative expenses | 1,036,311,231 |
Depreciation | 299,928,155 |
Operating income | $629,247,359 |
Interest expense | 35,826,000 |
EBT | $593,421,359 |
Income taxes | 163,104,554 |
Net earnings | $430,316,805 |
Modern Appliances Corporation Balance Sheet as of December 31, 2013 | ||||
Assets: | Liabilities and Equity: | |||
Cash and cash equivalents | $514,412,159 | Short-term borrowings | $117,109,865 | |
Accounts receivable | 1,046,612,233 | Trade accounts payable | 466,937,985 | |
Inventories | 981,870,990 | Other current liabilities | 994,289,383 | |
Other Current Assets | 313,621,610 | |||
Total current assets | $2,856,516,992 | Total current liabilities | $1,578,337,233 | |
Net Fixed Assets | 754,660,275 | Long-term debt | 1,200,691,565 | |
Goodwill | 118,407,710 | Common stock | 397,407,352 | |
Other Assets | 665,058,761 | Retained earnings | 1,218,207,588 | |
Total assets | $4,394,643,738 | Total liabilities and equity | $4,394,643,738 |
Liquidity Ratios | ||
Current Ratio | times | |
Quick Ratio | times | |
Efficiency Ratios | ||
Inventory turnover ratio | times | |
Accounts receivables turnover | times | |
DSO | days | |
Asset Turnover Ratios | ||
Total asset turnover | times | |
Fixed assets turnover | times | |
Leverage Ratios | ||
Total debt ratio | ||
Debt to equity ratio | ||
Equity multiplier | ||
Coverage Ratios | ||
Times interest earned | times | |
Cash coverage | times | |
Profitability Ratios | ||
Gross Profit Margin | % | |
Net Profit Margin | % | |
ROA | % | |
ROE | % | |
Du Point identity | ||
ROE | % |
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