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The balance sheet for Altoid Co. is shown below. ALTOID CO. Balance Sheet At December 31, 2016 Assets: Cash $ 180 Short-term investments 350 Accounts
The balance sheet for Altoid Co. is shown below. |
ALTOID CO. | ||
Balance Sheet | ||
At December 31, 2016 | ||
Assets: | ||
Cash | $ | 180 |
Short-term investments | 350 | |
Accounts receivable (net) | 450 | |
Inventories | 600 | |
Property, plant, and equipment (net) | 1,180 | |
Total assets | $ | 2,760 |
Liabilities and shareholders' equity: | ||
Current liabilities | $ | 600 |
Long-term liabilities | 750 | |
Paid-in capital | 300 | |
Retained earnings | 1,110 | |
Total liabilities and shareholders' equity | $ | 2,760 |
Selected 2016 income statement information for Altoid Co. includes: |
Net Sales | $ | 8,000 |
Operating expenses | 7,210 | |
Income before interest and taxes | 790 | |
Interest expense | 90 | |
Income tax expense | 210 | |
Net income | $ | 490 |
Required: |
Compute the following financial statement ratios for 2016: |
ALTOID CO'S DEBT TO EQUITY RATIO....?
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