Question
Tribke Enterprises collected the following data from its financial reports for 2012: Stock price $18.37 Inventory balance $300,000 Expenses (excluding COGS) $1,120,000 Shares outstanding 290,000
Tribke Enterprises collected the following data from its financial reports for 2012: Stock price $18.37 Inventory balance $300,000 Expenses (excluding COGS) $1,120,000 Shares outstanding 290,000 Average issue price of shares $5.00 Gross margin % 40% Interest rate 8% TIE ratio 8 Inventory turnover 12 x Current ratio 1.5 Quick ratio .75 Fixed asset turnover 1.5 Complete the following abbreviated financial statements, and calculate per share ratios indicated. (Hint: Start by subtracting the formula for the quick ratio from that for the current ratio and equating that to the numerical difference.) Set up an income statement that includes revenue, COGS, GM, EBIT, EBT, and EAT. Set up a balance sheet that includes Current assets, Fixed assets, Total assets, current liabilities, long-term debt, Equity (paid in capital*, and retained earnings), total equity, and total liabilities & equity. *Paid-in capital = Common Stock + Paid-in Excess
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