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question #5 and its data table...need help with requirement #2 again because the previous accounting expert on here gave me wrong answers Financial statement data
question #5 and its data table...need help with requirement #2 again because the previous accounting expert on here gave me wrong answers
Financial statement data of Greatland Engineering include the following items: (Click the icon to view the financial statement data.) Read the requirements. Requirement 1. Calculate Greatland's current ratio, debt ratio, and earnings per share. Round all ratios to two decimal places. Start by determining the formula for each ratio, beginning with the current ratio, followed by the debt ratio, and then earnings per share. Current assets Current liabilities Current ratio Total liabilities Total assets Debt ratio Net income Preferred dividends Common shares outstanding Earnings per share Now compute Greatland's current ratio, debt ratio, and earnings per share. (Round all ratios to two decimal places.) Current ratio Debt ratio Earnings per share 2.15 1.60 0.57 Requirement 2. Calculate the three ratios after evaluating the effect of each transaction that follows. Consider each transaction separately. (Round all ratios to two decimal places.) Current ratio Earnings per share Debt ratio 0.71 a. 1.60 2.15 Data table Cash Short-term investments Accounts receivable, net Inventories Prepaid expenses Total assets Short-term notes payable 26,000 Accounts payable 36,000 Accrued liabilities 85,000 147,000 6,000 677,000 49,000 Long-term notes payable Other long-term liabilities Net income Number of common shares outstanding $ 107,000 32,000 163,000 34,000 99,000 46,000 Step by Step Solution
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