Uptown Sporting Goods reported the following data at July 31, 2014, with amounts adapted in thousands: 1.
Question:
Uptown Sporting Goods reported the following data at July 31, 2014, with amounts adapted in thousands:
1. Compute Uptown’s net working capital.
2. Compute Uptown’s current ratio. Round to two decimal places.
3. Compute Uptown’s debt ratio. Round to two decimal places.
Do these values and ratios look strong, weak, ormiddle-of-the-road?
Transcribed Image Text:
A1 Uptown Sporting Goods Company Income Statement Year ended July 31, 2014 (Amounts in thousands) Net revenues Cost of goods sold $180,500 136,000 5 Ail other expenses 29,600 Net income A1 Uptown Sporting Goods Company Statement of Retained Earnings Year ended July 31, 2014 (Amounts in thousands) $36,500 14,900 51400 3 Retained earnings, July 31,2013 Add: Net income S Retained earnings, July 31, 2014 A1 Uptown Sporting Goods Company Balance Sheet July 31, 2014 (Amounts in thousands) Assets Current: 26,700 28,000 35,000 5,000 94,700 19,800 22,000 Cash Accounts receivable Other current assets 10 Property and equipment, net 7 Inventories Total current assets Other assets 2 Total assets 13 Liablilitles 15 Long-term liabilities 1 Stockholders' Equity 19 Retained earnings 2 Total liabilities and stockholders equity Total current lablities Total liabilities Common stock Total stockholders' equity $ S5,100 7500 62,600 22,500
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Related Book For
Financial Accounting
ISBN: 978-0133427530
10th edition
Authors: Walter Harrison, Charles Horngren, William Thomas
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