The financial statements of Dandy Distributors Ltd.are shown on the "Fcl. Stmts." page. Required: 1 Based on Dandy's financial statements, calculate ratios for the year ended December 31, 2020. Assume all sales are on credit. Show your work. 2 From these ratios, analyze the financial performance of Dandy.
Ch 13 Ratios US Edition at March 9_19 Extra (1) - Excel FILE HOME INSERT PAGE LAYOUT FORMULAS DATA REVIEW VIEW samantha bell 09 1 XV fx D E F G H K L M N P Q RS T U V W X Y Z AA AB AC AD Dandy Distributors Ltd. N Income Statement UI A For the Year Ended December 31, 2020 2020 2019 6 net $21,133,000 ########### 7 ost of goods sold 16,061,080 14,970,617 8 ss profit 5,071,920 4,471,743 9 ting expenses 10 ing 11 laries and benefits 841,000 832,590 12 elivery 104,400 95,004 13 ffice supplies 153,600 152,064 14 arranty 422,660 431,113 15 Total selling 1,521,660 1,510,771 16 eral and administrative 17 ad debts 633,990 646,670 18 epreciation 1,176,660 1,200,193 19 ofessional fees 168,900 157,077 20 Total general and adminstrative 1,979,550 2,003,940 21 perating expenses 3,501,210 3,514,711 22 e (loss) from operations 1,570,710 957,032 23 ncome (expenses 24 revenue 187,000 200,090 25 e (loss) before interest and income taxes 1,757,710 1,157,122 26 rest expense 682,245 668,600 27 e (loss) before income taxes 1,075,465 188,521 28 me taxes (recovered) 247,357 112,360 29 ome (loss) $828,108 $376,162 30 31 Dandy Distributors Ltd. 32 Statement of Changes in Equity 33 For the Year Ended December 31, 2020 34 2020 2019 35 Required Fcl. Stmts. Fcl. Ratios Retained + ENTER 94% Type here to search O X I 7:51 PM 10/4/2020Ch 13 Ratios US Edition at March 9_19 Extra (1) - Excel FILE HOME INSERT PAGE LAYOUT FORMULAS DATA REVIEW VIEW samantha bell X v fx D E F G H K L M N 0 P Q RS T U V W X Y Z AA AB AC AD 31 Dandy Distributors Ltd. 32 Statement of Changes in Equity 33 For the Year Ended December 31, 2020 34 2020 2019 35 Retained 36 Common Pref. earnings 37 stock stock (deficit) Total equity Total equity 38 e (deficit) at Jan. 1 $652,000 $19,670 $5,353,112 $6,024,782 $5,730,250 39 ssued 27,400 27,400 40 ome (loss) 828,108 828,108 376,162 41 ividends declared 42 erred (39,300) (39,300) (43,230) 43 mon (38,400 (38,400) (38,400) 44 e (deficit) at Dec. 31 $679,400 $19,670 $6,103,520 $6,802,590 $6,024,782 45 46 Dandy Distributors Ltd. 47 Balance Sheet 48 At December 31, 2020 49 50 Assets 51 ent 2020 2019 52 ash $63,000 $20,540 53 ccounts receivable, net 4,020,000 4,221,000 54 ventories 2,420,000 2,468,400 55 6,503,000 6,709,940 56 t assets 57 ind 8,624,000 8,541,260 58 uilding, net 6,537,000 6,929,220 59 tents, net 27,300 27,300 60 podwill 25,600 25,600 61 15,213,900 15,523,380 62 $21,716,900 ########### 63 64 Liabilities 65 Font Required Fcl. Stmts. Fcl. Ratios + ENTER 94% Type here to search O 9 X I 7:51 PM 10/4/2020Ch 13 Ratios US Edition at March 9_19 Extra (1) - Excel FILE HOME INSERT PAGE LAYOUT FORMULAS DATA REVIEW VIEW samantha bell X V fx D E F G H K M N 0 P Q RST U V W X Y Z AA AB AC AD 62 $21,716,900 ########### 63 64 Liabilities 65 ent 66 ade accounts payable $698,000 $642,160 67 timated current liabilities 117,600 110,544 68 timated warranty liabilities 194,000 209,520 69 pte payable 24,200 70 vidends payable 77,700 81,630 71 terest payable 14,300 14,157 72 laries and benefits payable 90,000 89,100 73 les tax payable 23,000 23,920 74 hearned rent 19,500 16,674 75 urrent portion of mortgage payable 2,237,764 1,621,014 76 orporate income taxes payable 11, 110 11,443 77 3,507,174 2,820,163 78 -current 79 ortgage payable 13,644,900 15,009,390 80 ss: Current portion (2,237,764) (1,621,014) 81 11,407,136 13,388,376 82 Total liabilities 14,914,310 16,208,538 83 84 Stockholders' Equity 85 imon stock, $1 per share 679,400 652,000 86 erred stock, $10 per share 19,670 19,670 87 ined earnings (deficit) 6,103,520 5,353,112 88 6,802,590 6,024,782 89 tal liabilities and S/H equity $21,716,900 # # ######### 90 91 David Annand: 92 Do not erase this cell. This calculates ending retained 93 earnings. 94 95 Required Fcl. Stmts. Fcl. Ratios + ENTER 94% Type here to search O X I 7:52 PM 10/4/2020
