Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

The following data represent selected information from the comparative income statement and balance sheet for Hot Rolled Corporation for the years ended December 31, 2014

image text in transcribed
image text in transcribed
The following data represent selected information from the comparative income statement and balance sheet for Hot Rolled Corporation for the years ended December 31, 2014 and 2013: 2014 2013 Cash Net accounts receivable $ 10,000 30,000 13,000 Inventory PP Insurance $ 15,000 25,000 10,000 7,000 87,000 114,000 5,000 Total current assets 88,000 Total non-current assets 112,000 Total current liabilities 70,000 60,000 45,000 60,000 Total non-current liabilities 10,000 Number of shares 60,000 Net sales 370,000 Cost of goods sold 150,000 Net income 70,000 333,000 160,000 57,000 75% of sales are usually on customers' accounts a. How much was Current Ratio in 2013? Ca. 1.26 Ob. 0.52 Oc 1.62 Od. 1.45 b. How much was Quick Ratio in 2014? Da 0.67 Ob. 0.57 OC 0.76 Od 0.75 c. How much was inventory Turn over in 2014? Ca. 36.1 Ob.2.61 3.16 d. 3.61 cost of goods sold 150.000 160,000 Net income 70,000 57,000 75% of sales are usually on customers' accounts a. How much was Current Ratio in 2013? a. 1.26 b. 0.52 X 1.62 d. 1.45 b. How much was Quick Ratio in 2014? a. 0.67 Ob. 0.57 C 0.76 Od 0.75 c. How much was Inventory Turn over in 2014? Oa. 36.1 Ob.2.61 3.16 Od.3.61 d. How much was Earning per Share in 2014? Oa. $1.17 Ob $0.95 OC $1.61 Od. $6.11 e. How much was Gross Margin ratio in 2014? Oa. 95.46% Ob. 59.46% O 40,54% Od. 54.46% f. How much was A/R Turnover in 2014? Oa. 10.09 Ob, 13,45 OC 3145 Od. 13 g. How much was Debt Ratio In 2013? Oa. 0.15 Ob. 0,55 Oc51 Od. 0.52 earch O

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

Step: 3

blur-text-image

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

Company Audit In A Budget Internal Audit For Financial Managers

Authors: Pramod Kesav N

1st Edition

B09QXF42M2

More Books

Students also viewed these Accounting questions

Question

Decision Making in Groups Leadership in Meetings

Answered: 1 week ago