Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Referring to the data above, please help me calculate financial ratios to understand the company's financial position. 2007 2006 Consolidated Balance Sheet - Year end

image text in transcribed

Referring to the data above, please help me calculate financial ratios to understand the company's financial position.

2007 2006 Consolidated Balance Sheet - Year end December 31 (In thousan Current assets: Cash and cash equivalents Funds held for payroll customers Receivables, net Investments Inventory Prepaid expenses Current tax asset Current deferred tax assets, net Total current assets Capitalized customer acquisition costs, net Deferred tax assets, net Property and equipment, net Goodwill and intangible assets Deposits and other assets Total assets $35,508 $16,054 $24,201 $16,960 $122,613 $107,154 $1,119 $1,082 $5,383 $2,252 $3,478 $2,030 $5,449 $19,227 $690 $757 $198,441 $165,516 $70,498 $56,705 $3,878 $4,562 $50,248 $23,135 $5,970 $1,757 $154 $93 $329,189 $251,768 Current liabilities: Due to sponsor banks Accounts payable Deposits held for payroll customers Current portion of accrued buyout liability Merchant deposits and loss reserves Accrued expenses and other liabilities Current portion of borrowings and financing arrangements Total current liabilities Reserve for unrecognized tax benefits Long-term portion of accrued buyout liability Total liabilities $49,798 $20,495 $24,201 $11,521 $14,757 $15,266 $27,253 $16,936 $16.960 $11,519 $8,210 $9,649 $174 $90,701 $136,038 $1,230 $26,252 $163,520 $21,774 $112,475

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_2

Step: 3

blur-text-image_3

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

GAO Financial Audit Manual Volume 1 Updated April 2020

Authors: United States Government GAO

2020 Edition

B091PR8396, 979-8733135977

More Books

Students also viewed these Accounting questions

Question

1. Identify three approaches to culture.

Answered: 1 week ago

Question

3. Identify and describe nine cultural value orientations.

Answered: 1 week ago

Question

4. Describe how cultural values influence communication.

Answered: 1 week ago