Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

The following information pertains to Walrus Inc. Cash $60,000 Accounts receivable 170,000 Inventory 100,000 Plant assets (net) 582,000 Total assets $912,000 Accounts payable $110,000 Accrued

The following information pertains to Walrus Inc.

Cash

$60,000

Accounts receivable

170,000

Inventory

100,000

Plant assets (net)

582,000

Total assets

$912,000

Accounts payable

$110,000

Accrued taxes and expenses payable

42,000

Long-term debt

120,000

Common stock ($10 par)

260,000

Paid-in capital in excess of par

50,000

Retained earnings

330,000

Total equities

$912,000

Net sales (all on credit)

$2,000,000

Cost of goods sold

1,400,000

Net income

120,000

Required:

Compute the following:

(ignore Avg for balance sheet accounts)

(a)

Current ratio

(b)

Inventory turnover

(c)

Receivables turnover

(d)

Book value per share

(e)

Earnings per share

(f)

Debt to total assets

(g)

Profit margin on sales

(h)

Return on common stock equity

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

The Audit Process Principles Practice And Cases

Authors: Stuart Manson, Iain Gray, Iain G. Sheffield, I.H. Gray, I. Etal Gray

2nd Edition

1861520107, 9781861520104

More Books

Students also viewed these Accounting questions

Question

2. Identify the purpose of your speech

Answered: 1 week ago