Answered step by step
Verified Expert Solution
Question
1 Approved Answer
Problem 3-28 Ratios and Fixed Assets [LO 2] The Plainfield Company has a long-term debt ratio (i.e., the ratio of long-term debt to long-term debt
Problem 3-28 Ratios and Fixed Assets [LO 2] The Plainfield Company has a long-term debt ratio (i.e., the ratio of long-term debt to long-term debt plus equity) of.55 and a current ratio of 1.44. Current liabilities are $2,480, sales are $10,720, profit margin is 12 percent, and ROE is 17 percent. What is the amount of the firm's current assets? (Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.) Current assets $ 3,571.20 What is the amount of the firm's net income? (Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.) Net income $ 1,286.40 What is the amount of the firm's total equity? (Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.) Total equity $ 7,567.06 What is the amount of the firm's long-term debt? (Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.) Long-term debt What is the amount of the firm's total debt? (Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.) Total debt What is the amount of the firm's total assets? (Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.) Total assets What is the amount of the firm's net fixed assets? (Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.) What is the amount of the firm's total debt? (Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.) Total debt What is the amount of the firm's total assets? (Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.) Total assets What is the amount of the firm's net fixed assets? (Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.) Net fixed assets
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored 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