Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

You have been given the financial statements of private company Greek Diamond Logistics December 31/12/202X (figures are in euros): Balance Sheet Greek Diamond Logistics as

image text in transcribed

image text in transcribed

You have been given the financial statements of private company "Greek Diamond Logistics" December 31/12/202X (figures are in euros): Balance Sheet "Greek Diamond Logistics" as at December 31, 202X Assets Cash & cash equivalents 120,000 Debtors ? Inventory ? Current Assets ? Land, Plant & Equipment 205,000 Noncurrent Assets ? Total Assets ? Liabilities & Stockholders' Equity Creditors ? Other short-term liabilities ? Total Current Liabilities ? Long-term debt ? Total Noncurrent Liabilities ? Total Liabilities ? Common stock ? Retained earnings ? Stockholders' Equity ? Total Liabilities & Stockholders' Equity 575,000 Income statement "Greek Diamond Logistics" as at December 31, 202X Total revenue ? (-) Cost of sales ? Gross profit 145,000 (SG&A EBIT ? (+) Interest revenue 0 (-) Interest expense 15,000 EBT (-) Taxes ? Net income ? Also, the following information is provided for the company "Greek Diamond Logistics" at the end of the accounting period (figures are in euro): Stockholders' equity to Total liabilities ratio - 1.5 Creditors are 4 times greater in value to Other short-term liabilities Inventory turnover (calculating with sales) - sales / inventory - 46 Interest coverage = 6 Inventory turnover (calculating with cost of sales) sales / cost of sales - 17 Current ratio = 4 Using the information that there is no taxation and dividends' decision: abov statemu..) B. Calculate Altman's Z score for the private company "Greek Diamond Logistics" (15%)

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

Essentials Of Cost Accounting For Health Care Organizations

Authors: Steven Finkler, Judith Baker, David Ward

3rd Edition

0810235447, 9780763738136

More Books

Students also viewed these Accounting questions

Question

14. What are the functions of the prefrontal cortexpg78

Answered: 1 week ago