Yata Liabilities and Stockholders' Equity Liabilities Current liabilities Notes payable Accounts payable Other Total current abilities Noncurrent abilities Bonds payable $ 20,000 B0.000 66.000 166,000 $ 15.000 28.00 9.000 52.000 Other 110 000 26000 136.000 302.000 210.000 12.000 222.000 284.000 Total noncurrent labities Total abilities Stockholders' esity Preferred stock |$100 a 4% cumulative, non participating: $100 liquidating value: 1.000 shares authorized and issued, no dividends in artears) Common stock no par: 50,000 shares authorized 12.000 shares issued Retained earnings Total stockholders' equity Total liabilities and stockholders' equity 100,000 100.000 240.000 280,000 620,000 $922.000 240,000 247.000 587,000 $871.000 Year 3 $230,000 4,000 234.000 BEDFORD APPLIANCES INC. Statements of income and Retained Earnings For the Years Ended December 31 Year 4 Revenues Sales net) $240,000 Other revenues 2.000 Total revenues 247.000 Expenses Cost of goods sold 143,000 Seting, general, and administrative 46,000 Bond Interest expense 7.000 Income tax expense 8,000 Total expenses 204.000 Net Income 43,000 Retained earnings, January 1 247,000 Less: Preferred stock dividends 4.000 Common stock dividends 6.000 Retained earnings December 31 $280 000 130,000 57,000 10,000 14,000 211.000 23,000 234.000 4,000 6.000 $242.000 Required Calculate the following ratios for Year 4 by rounding to two decimal points: a. Working capital b. Current ratio c. Quick ratio d. Accounts receivable turnover. e. Average days to collect accounts receivable, 1. Inventory turnover B. Average days to sell inventory. h. Debt-to-assets ratio i. Debt-to-equity ratio Times interest was earned Yata Liabilities and Stockholders' Equity Liabilities Current liabilities Notes payable Accounts payable Other Total current abilities Noncurrent abilities Bonds payable $ 20,000 B0.000 66.000 166,000 $ 15.000 28.00 9.000 52.000 Other 110 000 26000 136.000 302.000 210.000 12.000 222.000 284.000 Total noncurrent labities Total abilities Stockholders' esity Preferred stock |$100 a 4% cumulative, non participating: $100 liquidating value: 1.000 shares authorized and issued, no dividends in artears) Common stock no par: 50,000 shares authorized 12.000 shares issued Retained earnings Total stockholders' equity Total liabilities and stockholders' equity 100,000 100.000 240.000 280,000 620,000 $922.000 240,000 247.000 587,000 $871.000 Year 3 $230,000 4,000 234.000 BEDFORD APPLIANCES INC. Statements of income and Retained Earnings For the Years Ended December 31 Year 4 Revenues Sales net) $240,000 Other revenues 2.000 Total revenues 247.000 Expenses Cost of goods sold 143,000 Seting, general, and administrative 46,000 Bond Interest expense 7.000 Income tax expense 8,000 Total expenses 204.000 Net Income 43,000 Retained earnings, January 1 247,000 Less: Preferred stock dividends 4.000 Common stock dividends 6.000 Retained earnings December 31 $280 000 130,000 57,000 10,000 14,000 211.000 23,000 234.000 4,000 6.000 $242.000 Required Calculate the following ratios for Year 4 by rounding to two decimal points: a. Working capital b. Current ratio c. Quick ratio d. Accounts receivable turnover. e. Average days to collect accounts receivable, 1. Inventory turnover B. Average days to sell inventory. h. Debt-to-assets ratio i. Debt-to-equity ratio Times interest was earned
