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Some recent financial statements for Earl Grey Golf Corp. follow. EARL GREY GOLF CORP. 2017 and 2018 Statement of Financial Position Assets Liabilities and Owners
Some recent financial statements for Earl Grey Golf Corp. follow.
EARL GREY GOLF CORP. 2017 and 2018 Statement of Financial Position | ||||||||||||||||
Assets | Liabilities and Owners Equity | |||||||||||||||
2017 | 2018 | 2017 | 2018 | |||||||||||||
Current assets | Current liabilities | |||||||||||||||
Cash | $ | 24,046 | $ | 24,255 | Accounts payable | $ | 23,184 | $ | 27,420 | |||||||
Accounts receivable | 12,448 | 15,235 | Notes payable | 12,000 | 10,800 | |||||||||||
Inventory | 25,392 | 27,155 | Other | 11,571 | 15,553 | |||||||||||
Total | $ | 61,886 | $ | 66,645 | Total | $ | 46,755 | $ | 53,773 | |||||||
Long-term debt | $ | 80,000 | $ | 95,000 | ||||||||||||
Fixed assets | Owners equity | |||||||||||||||
Net plant and equipment | $ | 324,695 | $ | 365,734 | Common stock and paid-in surplus | $ | 40,000 | $ | 40,000 | |||||||
Retained earnings | 219,826 | 243,606 | ||||||||||||||
Total | $ | 259,826 | $ | 283,606 | ||||||||||||
Total assets | $ | 386,581 | $ | 432,379 | Total liabilities and owners equity | $ | 386,581 | $ | 432,379 | |||||||
EARL GREY GOLF CORP. 2018 Statement of Comprehensive Income | |||||||
Sales | $ | 366,996 | |||||
Cost of goods sold | 253,122 | ||||||
Depreciation | 32,220 | ||||||
Earnings before interest and tax | $ | 81,654 | |||||
Interest paid | 14,300 | ||||||
Taxable income | $ | 67,354 | |||||
Taxes (35%) | 23,574 | ||||||
Net income | $ | 43,780 | |||||
Dividends | $ | 20,000 | |||||
Additions to retained earnings | 23,780 | ||||||
Find the following financial ratios for Earl Grey Golf Corp. (use year-end figures rather than average values where appropriate): (Round the final answers to 2 decimal places.)
Short-term solvency ratios: | 2017 | 2018 | |
a. | Current ratio | times | times |
b. | Quick ratio | times | times |
c. | Cash ratio | times | times |
Asset utilization ratios: | |||
d. | Total asset turnover | times | |
e. | Inventory turnover | times | |
f. | Receivables turnover | times | |
es 2018 Statement of Comprehensive Income Sales Cost of goods sold Depreciation Earnings before interest and tax Interest paid Taxable income Taxes (35%) Net income Dividends Additions to retained earnings $20,000 23,780 Short-term solvency ratios: a. Current ratio b. Quick ratio c. Cash ratio Find the following financial ratios for Earl Grey Golf Corp. (use year-end figures rather than average values where appropriate): (Round the final answers to 2 decimal places.) $366,996 253,122 32,220 $ 81,654 14,300 $ 67,354 23,574 $ 43,780 2017 times. times times 2018 times times times Check my wo Find the following financial ratios for Earl Grey Golf Corp. (use year-end figures rather than average values where appropriate): (Round the final answers to 2 decimal places.) Short-term solvency ratios: a. Current ratio b. Quick ratio c. Cash ratio Asset utilization ratios: d. Total asset turnover e. Inventory turnover f. Receivables turnover Long-term solvency ratios: g. Total debt ratio h. Debt-equity ratio i. Equity multiplier 2017 times times times 2017 times times times times times 2018 2018 times times times times times Long-term solvency ratios: g. Total debt ratio h. Debt-equity ratio i. Equity multiplier j. Times interest earned k. Cash coverage ratio Profitability ratios: 1. Profit margin m. Return on assets n. Return on equity 2017 times times % times times 2018 times times
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