Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

solve this (Cash + Cash equivalents) - Total current liabilities Now, compute the cash ratios for 2024 and 2023 (Round your answers to two decimal

solve this (Cash + Cash equivalents) - Total current liabilities Now, compute the cash ratios for 2024 and 2023 (Round your answers to two decimal places, X.XX) Cash ratio 2024 2023 Requirement 1c. Compute the times-interest-eared ratios for 2024 and 2023 Begin by selecting the formula to compute the times-interest-earned ratio. Times-interest-earned ratio = (Net Income + Income tax expense + Interest expense) - Interest ex Now, compute the times-interest-earned ratios for 2024 and 2023. (Round your answers to two decimal 2024 2023 Cash ratio 0.43 0.39 2024 2023 Demodocs example Times-interest-earned ratio Requirement 1d. Compute the inventory turnover ratios for 2024 and 2023. Begin by selecting the formula to compute the inventory turnover ratio. Inventory turnover ratio = Cost of goods sold - Average merchandise inventory Now, compute the inventory tumover ratios for 2024 and 2023. (Round your answers to two decimal plac Inventory turnover ratio 137 0.86 6.46 5.27 Get Current Assets: Cash Assets Accounts Receivables, Net Merchandise Inventory Ranfield, Inc. Comparative Balance Sheet December 31, 2024 and 2023 2024 Prepaid Expenses Total Current Assets Property, Plant, and Equipment, Net Total Assets Liabilities Total Current Liabilities Long-term Liabilities Total Liabilities Stockholders' Equity Preferred Stock, 5% Common Stockholders' Equity, no par Total Liabilities and Stockholders' Equity $ $ S 98,000 $ 108,000 147,000 17,000 370,000 211,000 581,000 $ $ 227,000 $ 118,000 345,000 100,000 136,000 581,000 $ 2023 95,000 120,000 $ 106,000 159,000 210,000 10,000 384,000 176,000 560,000 242,000 99,000 341,000 2022 100,000 119,000 560,000 $596,000 95,000 N C G Op Inc Inte Inc Inco Net
image text in transcribed
image text in transcribed
imventiry Requirement 1c. Compere the times stevest eaved rabios for 2024 avd 2023 Hegn by sedecting tive formia sa compule the times interest-esured neto

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

Step: 3

blur-text-image

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

Design Of Cost Management Systems The Text Cases And Readings

Authors: Robin Cooper

1st Edition

0132041243, 978-0132041249

More Books

Students also viewed these Accounting questions

Question

Show that (n log n + n2)3 is O(n6).

Answered: 1 week ago

Question

Prepare responsibility accounting reports.

Answered: 1 week ago

Question

How is social networking used in informal training?

Answered: 1 week ago

Question

What are some career development methods?

Answered: 1 week ago