Answered step by step
Verified Expert Solution
Question
1 Approved Answer
(Ratio analysis) The balance sheet and income statement for the A. Thiel Mfg. Company are given in the popup window: Calculate the following ratios: a.
(Ratio analysis) The balance sheet and income statement for the A. Thiel Mfg. Company are given in the popup window: Calculate the following ratios: a. Current ratio b. Operating return on assets c. Times interest earned d. Debt ratio e. Inventory turnover f. Average collection period g. Total asset turnover h. Fixed asset turnover i. Operating profit margin j. Return on equity a. The current ratio is x. (Round to two decimal places.) Balance Sheet ($000) Cash Accounts receivable Inventories Current assets Net fixed assets Total assets $ 482 2,021 1,000 $ 3,503 4,504 $ 8,007 Accounts payable Accrued expenses Short-term notes payable Current liabilities Long-term debt Owners' equity Total liabilities and owners' equity $ 1,096 618 317 $ 2,031 2,005 3,971 $ 8,007 Viola on follo Income Statement ($000) Sales (all credit) Cost of goods sold Gross profit Operating expenses (includes $524 depreciation) Operating profits Interest expense Earnings before taxes Income taxes (21%) Net income $ 7,990 (3,279) $ 4,711 (3,012) $ 1,699 (345) $ 1,354 (284) $ 1,070
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