The following information for High Flying Company is provided. High Flying Company Current assets Long-term assets. Current
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The following information for High Flying Company is provided. High Flying Company Current assets Long-term assets. Current liabilities. Long-term liabilities. Owners' equity Sales for year Net income for year.. Average market price per share. Average number of shares outstanding $ 145,000 750,000 75,000 300,000 520,000 1,425,000 105,000 145.00 10,000 1. Compute the current ratio, debt ratio, return on sales, return on equity, asset turnover, and price-earnings ratio. 2. Interpretive Question: What do these ratios show for High Flying Company?
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Related Book For
Survey Of Accounting
ISBN: 9780538846172
1st Edition
Authors: James D. Stice, W. Steve Albrecht, Earl Kay Stice, K. Fred Skousen
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