Answered step by step
Verified Expert Solution
Question
1 Approved Answer
Use the following statement of financial position and statement of comprehensive income Blue Bird, Inc. 2018 Statement of comprehensive income Net Sales $12,630 Less: Cost
Use the following statement of financial position and statement of comprehensive income Blue Bird, Inc. 2018 Statement of comprehensive income Net Sales $12,630 Less: Cost of Goods Sold 8,240 Less: Depreciation 1,010 Earnings Before Interest and Taxes 3,3801 Less: Interest Paid 750 Taxable income $2.630 Less: Taxes 920 Net Income $1,710 2017 2018 Cash Accounts rec. Inventory Total Net fixed assets Total assets Blue Bird, Inc. Statement of financial position Years ended 2017 and 2018 2017 2018 $6401 $590 Accounts payable 1.2001 1,390L.ong-term debt 2.300 2,470 Common stock $4.140 $4,450 Retained earnings 4,640 5.200 $8,780 $9,650 Total liabilities & equity 2,500 4.000 1,040 2.800 4,500 1,690 $8.780 $9.650 What is the equity multiplier for Bluebird for 2018? Multiple Choice O 1.53 1.56 161 O 164 1.59
Step by Step Solution
There are 3 Steps involved in it
Step: 1
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