Score: 0 of 13 pts 3 of 4 (0 complete) P15-27A (similar to) Comparative financial statement data of Monfield, Inc. follow: (Click the icon to view the income statement.) (Click the icon to view the balance sheet.) (Click the icon to view the additional financial information.) Read the requirements Requirement 1a. Compute the current ratios for 2018 and 2017. Begin by selecting the formula to compute the current ratio. Current ratio 8:35 AM 5/28/2020 Choose from any drop-down list and then click Check Answer 19 parts remaining Clear All Char al 5-27A (similar to) Balance Sheet - X mparative financial statement data of Manfield, Inc. follow: (Click the icon to view the income statement.) Click the icon to view the balance sheet.) Manfield, Inc. Comparative Balance Sheet quirement 1a. Comoute the current ratios for 2018 and 2017 * Income Statement December 31, 2018 and 2017 2018 2017 2016" Manfield, Inc. Comparative Income Statement Years Ended December 31, 2018 and 2017 2018 Assets Current Assets: Cash Accounts Receivables, Net Merchandise Inventory Prepaid Expenses Total Current Assets 91,000 $ 112,000 148,000 17,000 89,000 119,000 $ 102,000 161.000 206,000 8,000 2017 Net Sales Revenue $ 466,000 $ 426,000 238,000 216,000 Cost of Goods Sold 368,000 216,000 377,000 182,000 Gross Profit Property, Plant, and Equipment, Net 228,000 132.000 210,000 130,000 s Total Assets 584,000 $ 559,000 $602 000 Operating Expenses Income From Operations 96,000 10,000 80,000 11,000 S Interest Expense Income Before Income Tax Liabilities Total Current Liabilities Long-term Liabilities Total Liabilities 226,000 $ 116,000 242.000 97,000 86,000 21,000 69,000 26,000 339,000 342,000 Income Tax Expense $ 65,000 $ 43,000 Net Income Stockholders' Equity Print Done Print Done Done 19 parts remaining of 13 pts 3 of 4 (0 complete) 7A (similar to) ative financial statement data of Manfield, Inc. follow: ok the icon to view the income statement.) (Clich ck the icon te le Requirements ment 1a. selecting to ratio 1. Compute the following ratios for 2018 and 2017: a. Current ratio b. Cash ratio C. Times-interest-earned ratio d. Inventory turnover e. Gross profit percentage f. Debt to equity ratio g. Rate of return on common stockholders' equity h. Earnings per share of common stock i. Price/earnings ratio 2. Decide (a) whether Manfield's ability to pay debts and to sell inventory improved or deteriorated during 2018 and (b) whether the investment attractiveness of its common stock appears to have increased or decreased. Print Done Additional Financiar formation 1. Market price of Manfield's common stock: $72.72 at December 31, 2018, and $44.37 at December 31, 2017 2. Common shares outstanding: 15,000 on December 31, 2018 and 14,000 on December 31, 2017 and 2016. 3. All sales are on credit. Print Done arts maining Clear All nancial statement data of Manfield, Inc. follow: icon to view the income statement.) icon to view the balance sheet.) (Click tH Read the red 1a. Compute the current ratios for 2018 and 2017. Ecting the formula to compute the current ratio Average merchandise inventory / Net sales revenue (Cash Cash equivalents) / Total current liabilities (Cash + Accounts receivable, net) / Total current liabilities Cost of goods sold / Average merchandise inventory Gross profit/Net sales revenue Market price per share of common stock / Earnings per share (Net Income + Income tax expense + Interest expense) / Interest expense (Net income - Preferred dividends) / Average common stockholder's equity (Net income - Preferred dividends)/Weighted average number of common shares outstanding Total current assets/Total current liabilities Total equity / Total liabilities Total liabilities/Total equity Tom any drop-down list and then click Check Answer. rts maining Clear All F2 F3 F4 F5 F6 F7 # % 8. i Balance Sheet - X formatid Assets Current Assets: Cash $ 91,000 $ 89,000 112,000 148,000 17,000 119,000 $ 102,000 161,000 206,000 8,000 Accounts Receivables, Net Merchandise Inventory Prepaid Expenses Total Current Assets Property, Plant, and Equipment, Net Total Assets Liabilities Total Current Liabilities 368,000 216,000 377.000 182,000 $ 584,000 $ 559,000 $602.000 $ 226,000 $ 116,000 242,000 97.000 Long-term Liabilities Total Liabilities 342,000 339,000 Stockholders' Equity Preferred Stock, 6% 108,000 134.000 108,000 112,000 86,000 Common Stockholders' Equity, no par $ 584,000 $ 559,000 Total Liabilities and Stockholders' Equity * Selected 2016 amounts eck Print Done End PrtScn F8 Home 79 F7 F6 F4 F5 A Income Statement . Manfield, Inc. Comparative Income Statement Years Ended December 31, 2018 and 2017 2018 2017 Net Sales Revenue $ 466,000 $426,000 238,000 216,000 Cost of Goods Sold Gross Profit 228,000 132,000 210,000 130,000 Operating Expenses Income From Operations Interest Expense Income Before Income Tax 96,000 10,000 80,000 11,000 86,000 21,000 69,000 26,000 Income Tax Expense Net Income 65,000 $ 43,000 Print Done Clear All J: A (Click the icon to view the additional financial informatic Income Statement - X 2017. Manfield, Inc. Comparative Income Statement Years Ended December 31, 2018 and 2017 2018 2017 Net Sales Revenue $ 466,000 $ 426,000 238,000 216,000 Cost of Goods Sold Gross Profit 228,000 132,000 210,000 130,000 Operating Expenses Income From Operations Interest Expense Income Before Income Tax 96,000 10,000 80,000 11,000 86,000 21,000 69,000 26,000 Income Tax Expense Net Income 65,000 $ 43,000 Answer. Print Done Check Ans P15-27A (similar to) Question Help Comparative financial statement data of Manfield, Inc. follow: Click the icon to view the income statement.) E (Click the icon to view the balance sheet.) (Click the icon to view the additional financial information) Read the requirements. Requirement 1a. Compute the current ratios for 2018 and 2017 Begin by selecting the formula to compute the current ratio. Current ratio -50 AM 28/2020 Choose from any drop-down list and then click Check Answer 19 parts remaining Clear All Check Answer DIL (1) F1 F2 F3 F4 F5 F6 @ # CA % emparative financial statement data of Manfield, c. follow: Click the icon to view the income statement.) Click the icon to view the balance sheet.) (Click the icon to view the additional finan information.) Read the requirements. cequirement 1a. Compute the current ratios for 2018 and 2017. egin by selecting the formula to compute the current ratio. Current ratio Average merchandise inventory / Net sales revenue (Cash + Cash equivalents) / Total current liabilities (Cash + Accounts receivable, net) / Total current liabilities Cost of goods sold / Average merchandise inventory Gross profit/Net sales revenue Market price per share of common stock /Earnings per share (Net Income + Income tax expense + Interest expense) / Interest expense (Net income - Preferred dividends) / Average common stockholder's equity (Net income - Preferred dividends)/ Weighted average number of common shares outstanding Total current assets/Total current liabilities Total equity / Total liabilities Total liabilities/Total equity Choose from any drop-down list and then click Check Answer. 19 parts remaining Clear All Check Answer -- go F1 F2 F3 F4 FS F6 Manfield, Inc. Comparative Balance Sheet December 31, 2018 and 2017 2018 2017 2016* Assets Current Assets: Cash $ 89,000 Accounts Receivables, Net Merchandise Inventory Prepaid Expenses Total Current Assets 91,000 $ 112,000 148,000 17,000 119,000 $ 102,000 161,000 206,000 8,000 368,000 216,000 Property, Plant, and Equipment, Net 377,000 182,000 559,000 Total Assets $ 584,000 $ $602,000 Liabilities Total Current Liabilities $ 226,000 $ 116,000 Long-term Liabilities Total Liabilities 242,000 97,000 342,000 339,000 Print Done remaining 30 F1 ux F2 F3 F4 F5 56 Current Assets Cash $ 91,000 $ 89,000 Accounts Receivables, Net Merchandise Inventory 112,000 148,000 17,000 119,000 $ 102,000 161,000 206,000 8,000 Prepaid Expenses Total Current Assets 368,000 216,000 377,000 182,000 Property, Plant, and Equipment, Net Total Assets $ 584,000 $ 559,000 $602,000 Liabilities $ Total Current Liabilities Long-term Liabilities Total Liabilities 226,000 $ 116,000 242,000 97,000 342,000 339,000 Stockholders' Equity Preferred Stock, 6% Common Stockholders' Equity, no par 108,000 134,000 108,000 112,000 86,000 Tatal Liabilities and Stockholders' Equity $ 584,000 $ 559,000 Selected 2016 amounts Print Done Temaining (Click the icon to view the income statement.) (Click the icon to view the balance sheet.) information.) Read the requirements. Requirement 1a. Compute the current ratios for 2018 and 2017. Begin by selecting the formula to compute the current ratio. Additional Financial Information 1. Market price of Manfield's common stock: $72.72 at December 31, 2018, and $44.37 at December 31, 2017 2. Common shares outstanding: 15,000 on December 31, 2018 and 14,000 on December 31, 2017 and 2016 3. All sales are on credit Print Done Choose from any drop-down list and then click Check Answer. 19 parts remaining Clear All Check Answer F1 F2 F3 F4 F5 F6 # . LA LA % A