Answered step by step
Verified Expert Solution
Question
1 Approved Answer
Tomson Corporation 2013 and 2014 Statement of Financial Position Assets Liabilities 2013 2014 2013 2014 Current Assets Current Liabilities $ 8,436 $ 10,157 A/P
Tomson Corporation 2013 and 2014 Statement of Financial Position Assets Liabilities 2013 2014 2013 2014 Current Assets Current Liabilities $ 8,436 $ 10,157 A/P 23,406 Notes Payable 42.650 S 76,213 Total $ 43,050 18.384 $ 46,821 17.382 Cash A/R 21,530 38,760 $ 68.726 Inventory $ 61.434 $ 25.000 S 64.203 $ 32,000 Total Long-term Debt Owner's Equity Common Stock & $ 40,000 188.316 Paid-in Surplus 40,000 168.998 Retained Earnings $ 226.706 S. 295.432 $ 248.306 Total $ 208.998 $ 228.316 Net Plant & Equip Total Liabilities & S 324,519 Owners Equity $ 295.432 Total Assets S.324.519 1. Prepare: The 2014 combined common-size, common-base year statement of financial position for Tomson. Round your intermediate calculations to 2 decimal places and final answers to 4 decimal places. 2. Calculate: 1. The current ratio for each year 2. The quick ratio for each year 3. The cash ratio for each year 4. The NWC to total assets ratio for each year 5. The debt-equity ratio and the equity multiplier for each year 6. The total debt ratio and the long-term debt ratio for each year
Step by Step Solution
★★★★★
3.38 Rating (154 Votes )
There are 3 Steps involved in it
Step: 1
Balance Sheet Amount commonsize combined 2013 2014 2013 2014 2013 2014 assets current assets cash 8436 10157 28555 31299 12040 10961 AR 21530 23406 72...Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started