Question
The balance sheet and income statement for Chico Electronics are reproduced below (tax rate is 40%). CHICO ELECTRONICS Balance Sheet ($ thousands) PROBLEM 1-8
The balance sheet and income statement for Chico Electronics are reproduced below (tax rate is 40%). CHICO ELECTRONICS Balance Sheet ($ thousands) PROBLEM 1-8 Financial Statement Ratio Analysis Current assets Cash Accounts receivable Inventories Prepaid expenses Total current assets. Property, plant and equipment, net Other assets Total assets ( As of December 31 Year 4 Year 5 Assets $ 683 $ 325 1,490 3,599 1,415 2,423 15 13 3,603 6,360 1,066 1,541 123 157 $4,792 $8,058 Liabilities and Shareholders' Equity Current liabilities Notes payable to bank Current portion of long-term debt Accounts payable Estimated income tax liability Accrued expenses Customer advance payments Total current liabilities Long-term debt Other liabilities I $ 875 38 116 485 933 588 472 576 586 34 963 1,721 3,945 122 179 81 131 LAFE < 55
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