Question
The balance sheet and income statement for the J. P. Robard Mfg. Company are as follows: LOADING... . Calculate the following ratios: Current ratio Times
The balance sheet and income statement for the J. P. Robard Mfg. Company are as follows:
LOADING...
. Calculate the following ratios:
Current ratio Times interest earned Inventory turnover Total asset turnover Operating profit margin | Operating return on assets Debt ratio Average collection period Fixed asset turnover Return on equity |
J. P. Robard Mfg., Inc. Balance Sheet ($000) | |
Cash | $450 |
Accounts receivable | 2,060 |
Inventories | 920 |
Current assets | $3,430 |
Net fixed assets | 4,430 |
Total assets | $7,860 |
Accounts payable | $1,000 |
Accrued expenses | 560 |
Short-term notes payable | 250 |
Current liabilities | $1,810 |
Long-term debt | 1,900 |
Owners' equity | 4,150 |
Total liabilities and owners' equity | $7,860 |
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J. P. Robard Mfg., Inc. Income Statement ($000) | |
Net sales (all credit) | $7,930 |
---|---|
Cost of goods sold | (3,240) |
Gross profit | $4,690 |
Operating expenses (includes $500 depreciation) | (2,910) |
Net operating income | $1,780 |
Interest expense | (355) |
Earnings before taxes | $1,425 |
Income taxes (35%) | (499) |
Net income |
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