Answered step by step
Verified Expert Solution
Question
1 Approved Answer
Radio Heed, Incorporated's Income statement and other financial Information for the current year is presented below. $ 229, 131 78,360 150, 771 Radio Heed, Incorporated
Radio Heed, Incorporated's Income statement and other financial Information for the current year is presented below. $ 229, 131 78,360 150, 771 Radio Heed, Incorporated Income Statement For the year ended December 31 Sales revenue Cost of goods sold Gross profit Selling, general and administrative expenses Operating income Interest expense Income before taxes Income tax expense Net income 14,885 135,886 4,947 130,939 4,814 $ 126, 125 Balance sheet information: Current assets Noncurrent assets Current liabilities Long-term debt $ 257, eee 514, eee 64,000 128, eee Required: a. Perform vertical analysis of the Income statement. b. Calculate the debt-to-assets ratlo. c. Calculate the times Interest earned ratio. Complete this question by entering your answers in the tabs below. Required A Required B Required Perform vertical analysis of the income statement. (Round your answers to the nearest whole percent.) Radio Heed, Incorporated Income Statement For the year ended December 31 Amount Percent (%) $ 229,131 78,360 150.771 14,885 Sales revenue Cost of goods sold Gross profit Selling, general, and administrative expenses Operating income Interest expense Income before taxes Income tax expense Net income 135,888 4,947 130.939 4,814 $ 126,125 Required A Required B > Complete this question by entering your answers in the tabs below. Required A Required B Required Calculate the debt-to-assets ratio. (Round your answer to 2 decimal places.) Debt-to-assets Ratio Complete this question by entering your answers in the tabs below. Required A Required B Required Calculate the times interest earned ratio. (Round your answer to 2 decimal places.) Interest Earned Ratio
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