Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Presented below are select figures from the balance sheet of Einstein Company for 2 0 2 3 and 2 0 2 2 . Einstein Company

Presented below are select figures from the balance sheet of Einstein Company for 2023 and 2022.
Einstein Company
Balance Sheet
As at January 31
20232022
Total Assets $288,371 $213,317
Total Liabilities $118,490 $60,646
Shareholders' Equity $169,881 $152,671
In 2023, Einstein Company had sales of $527,000 and net income of $41,700. Calculate the ratios for 2023 as indicated below.
Do not enter dollar signs or commas in the input boxes.
Round your answers to 2 decimal places.
Return on Assets (Percent): Answer
14.46
%
Asset Turnover: Answer
1.83
times
Debt-to-Equity (Decimal): Answer
0.697
Debt-to-Total-Assets (Percent): Answer
41.09
%

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Managerial Accounting

Authors: Ray Garrison, Eric Noreen and Peter Brewer

14th edition

978-007811100, 78111005, 978-0078111006

More Books

Students also viewed these Accounting questions