Excerpts from the financial statements of Waters and Wheel are provided below. 1997 1996 Balance Sheet Current
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Excerpts from the financial statements of Waters and Wheel are provided below. 1997 1996 Balance Sheet Current assets $20,000 $22,000 Long-term assets 43,000 45,000 Current liabilities 15,000 15,000 Long-term debt 25,000 20,000 Stockholders’ equity Income Statement 23,000 32,000 Net income $ 9,000 $26,000 REQUIRED: Review this information, calculate any ratios that you believe may be useful in assessing this company’s financial health and performance, and explain why this company appears to be a good or poor investment.
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