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Please view both photos as the 2nd photo shows both parts of the data table (Computing ratos) Use the information from the balance sheet and
Please view both photos as the 2nd photo shows both parts of the data table
(Computing ratos) Use the information from the balance sheet and income statement in the popup window, to calculate the following ratios. - Data Table a. Current ratio b. Acid-test ratio c. Times interest eamed d. Inventory turnover e. Total asset tumover t. Operating profit margin g. Days in receivables n. Operating retum on assets 1. Debt ratio 1. Return on equity k. Fixed asset turnover a. The current ratio is LX (Round to two decimal places) Balance Sheet ASSETS $ 90,000 Cash Accounts receivable Inventory Prepaid expenses Total current assets Gross plant and equipment Accumulated depreciation 39.000 42.000 11 000 5 182,000 395.000 (62,000) 5 515.000 $ 85.000 66,000 Total assets LIABILITIES AND OWNERS' EQUITY Accounts payable Accrued liabilities Total current liabilities Long-term debt Common stock Retained earnings Total liabilities and equity 5 151.000 124.000 202.000 38.000 $ 515.000 Income Statement Sales" 220.000 (84000) Cost of goods sold Gross profit Selling general and administrative expenses Enter your answer in the answer box and then click Check Answer $ 136.000 (34,000) Total assets $ 515,000 LIABILITIES AND OWNERS' EQUITY Accounts payable $ 85,000 66,000 Accrued liabilities S 151.000 Total current liabilities Long-term debt 124,000 Common stock 202.000 38,000 Retained earnings Total liabilities and equity $ 515,000 Income Statement Sales S 220,000 (84,000) S Cost of goods sold Gross profit Selling, general, and administrative expenses Depreciation expenses Operating profits 136.000 (34,000) (29,000) S 73,000 (12,000) Interest expense Earnings before taxes $ 61,000 (12,810) Taxes Net income $ 48,190 * 12% of sales are cash salesStep by Step Solution
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