Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

The financial statements of Valley Employment Services, Inc. reported the following accounts (Click the icon to view the list of accounts Read the requirements Data

image text in transcribed
image text in transcribed
The financial statements of Valley Employment Services, Inc. reported the following accounts (Click the icon to view the list of accounts Read the requirements Data Table Calculate the following for Valleyview Employment Services a. Net income 354 000 Total revenues $ 1,640.000 Valleyview's net income is Paid-in capital in excess of par Notes Payable (short-term) Common stock, 5001 par 300,000 shares issued Long-term debt b. Total liabilities 60.000 Accounts payable Retained earnings 8,000 Other current liabilities 22,000 Total expenses 260.000 678,000 220,000 960.000 Valleyview's total liabilities are e. Total assets (use the accounting equation) Print Done Valleyview's total assets are Nepromargination your answer as a percentage rounded to the nearest whole percent Valewiew neprofit marginal Ansatte XXX in the formate the totals given or previously calculated instead Enter your answer as a decimal rounded to two places move age d the formule the totales given or previously calculated instead. Enter your answer as a decimal founded to two places, ratios 9. Relum on guy averages and in the formula, use the totals given or previously calculated instead Enter your answer as a percentage rounded to the Valemon What additional formation do you need before you can use this data to make decisions? O box is not used in the tableave the box cipy, do not make ancial statements of Valleyview Employment Services, Inc., reported the following accounts: ok the icon to view the list of accounts) (Click the icon to view the statement of stockholders' equity.) e requiren Reference to the follo come hew's netid liabilities $ 0.01 par 800,000 shares issued Balance Sheet (Partial) Stockholders' Equity Common stock Paid-in capital in excess of par Total paid-in capital Retained earnings Fiew's total assets (us 8,000 354,000 362,000 678,000 1,040,000 viow's total $ profit marg Total stockholders' equity Net income has already been closed to Retained Earnings. Views net Print Done at turnover ed to two plo view's asset turnover is rage ratio (lf averages are sa decimal rounded to two plac view's leverage ratio is urn on equity (if averages whole percent) Using only year-end figures rather than averages, calculate the following for Valleyview a. Net income b. Total liabilities c. Total assets (use the accounting equation) d. Net profit margin ratio e Asset turnover 1. Leverage ratio 9. Return on equity What additional information do you need before you can use this data to make decisions as a percentage rounded to the viowe return on equity is additional Information do yo the box emply do not make a Print Done e from any list or enter an

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image_2

Step: 3

blur-text-image_3

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Audit And Assurance Principles And Practices In Singapore

Authors: Dr Ernest Kan

5th Edition

9814838136, 978-9814838139

More Books

Students also viewed these Accounting questions