Question

The Balance Sheet and the Income Statement for ABC Manufacturing Corporation are as follows: DATA (All...

The Balance Sheet and the Income Statement for ABC Manufacturing Corporation are as follows:

DATA (All amounts in SAR unless otherwise indicated, all sales are on credit and no hard keys.)

Balance Sheet:

ABC Corporation Balance Sheet

Other current assets

Total current assets

Gross fixed assets

Accumulated depreciation

Net fixed assets

Total assets

LIABILITIES (DEBT) AND EQUITY

Accounts payable

Short-term notes payable

Total current liabilities

Long-term debt

Total liabilities

Common stock (par & paid in capital)

Retained earnings

Total common equity

Total liabilities and equity

ABC Corporation Income Statement

Sales

Cost of goods sold

Gross profits

Operating expenses:

Selling and G&A expenses

Depreciation expenses

Total operating expenses

Operating income (earnings before interest and taxes)

Interest expense

Earnings before taxes

Income taxes

Net Income

Number of shares (thousands)

Dividends (thousands)

Market price per share

Calculate the following ratios:

Current ratio

Acid-test ratio

Days in receivables

Days in inventories

Operating return on assets

Operating profit margin

Total asset turnover

Fixed asset turnover

Debt ratio

Times interest earned

Return on equity

Earnings per share

Dividends per share

Price/Earnings

Book value per share

Market/Book

Homework Answers

Answer #1

1. Current Ratio = Current Assets ÷ Current Liabilities

2. Acid Test Ratio = Current Asset -( Inventory - Prepaid Expenses) ÷ Current Liabilities

3. Days in receivables = 365 ÷ Receivable Turnover

Answer will come in days

And Receivable Turnover Ratio = Total Sales ÷ Avg Receivables

4. Days in inventories = 365 ÷ Inventory Turnover Ratio = (Answer will come in days)

And Inventory Turnover Ratio = Cost of goods sold ÷ Average Inventory (Answer will be in times)

Know the answer?
Your Answer:

Post as a guest

Your Name:

What's your source?

Earn Coins

Coins can be redeemed for fabulous gifts.

Not the answer you're looking for?
Ask your own homework help question
Similar Questions
The balance sheet and income statement for the A. Thiel Mfg. Company are as follows: Balance...
The balance sheet and income statement for the A. Thiel Mfg. Company are as follows: Balance Sheet ($000) Cash $ 500 Accounts receivable 2,000 Inventories 1,000 Current assets $3,500 Net fixed assets 4,500 Total assets $8,000 Accounts payable $1,100 Accrued expenses 600 Short-term notes payable 300 Current liabilities $2,000 Long-term debt 2,000 Owners’ equity 4,000 Total liabilities and owners’ equity $8,000 Income Statement ($000) Sales (all credit) $8,000 Cost of goods sold (3,300) Gross profit $4,700 Operating expenses (includes $500...
The balance sheet and income statement for Rocket Corporation are as follows: Balance Sheet as of...
The balance sheet and income statement for Rocket Corporation are as follows: Balance Sheet as of December 31, 2019 ASSETS LIABILITIES & EQUITY Cash & marketable sec. $3,500 Accounts payable $38,000 Accounts Receivable 47,000 Taxes payable 9,000 Inventory 13,000 Short-term borrowings 20,500 Total current assets $63,500 Total current liabilities $67,500 Net P,P & E $452,000 Long-term debt $200,000 Total liabilities $267,500 Common stock at par $80,000 Additional paid-in capital $45,000 Retained earnings $123,000 TOTAL ASSETS $515,500 TOTAL LIABILITIES & EQUITY...
Use the balance sheet and income statement below: VALIUM’S MEDICAL SUPPLY CORPORATION Balance Sheet as of...
Use the balance sheet and income statement below: VALIUM’S MEDICAL SUPPLY CORPORATION Balance Sheet as of December 31, 2015 and 2014 (in thousands of dollars) 2015 2014 2015 2014 Assets Liabilities and Equity Current assets: Current liabilities: Cash and marketable securities $ 74 $ 73 Accrued wages and taxes $ 50 $ 43 Accounts receivable 191 183 Accounts payable 156 143 Inventory 316 293 Notes payable 133 133 Total $ 581 $ 549 Total $ 339 $ 319 Fixed assets:...
Question 8. (Calculating financial ratios) Use the balance sheet and income statement for the J. P....
Question 8. (Calculating financial ratios) Use the balance sheet and income statement for the J. P. Robard Mfg. Company to calculate the following ratios: (Show all work.) Current ratio (Round to two decimal places.) _________ Times interest earned (Round to two decimal places) ________ times Inventory turnover (Round to two decimal places.) __________ times Total asset turnover (Round to two decimal places.) __________ Operating profit margin (Round to one decimal places.) ___________% Operating return on assets (Round to one decimal...
Solve in excel plz and show work Financial Statements ABC CORPORATION Balance Sheet Year Ended December...
Solve in excel plz and show work Financial Statements ABC CORPORATION Balance Sheet Year Ended December 31 (in $ millions) Assets 2006 2005 Liabilities & Stockowner’s Equity 2006 2005 Current Assets Current Liabilities Cash 22.2 19.5 Accounts Payable 29.2 24.5 Accounts Receivables 18.5 13.2 Notes Payable / Short-Term Debt 4.5 3.2 Inventories 14.2 14.3 Current Maturities of Long-Term Debt 13.3 12.3 Other Current Assets 2.0 1.0 Other Current Liabilities 3.0 4.0 Total Current Assets 56.9 48.0 Total Current Liabilities 50.0...
Consider the following company’s balance sheet and income statement. Balance Sheet Assets Liabilities and Equity Cash...
Consider the following company’s balance sheet and income statement. Balance Sheet Assets Liabilities and Equity Cash $ 10,000 Accounts payable $ 31,000 Accounts receivable 72,000 Notes payable 25,000 Inventory 53,000 Total current assets 135,000 Total current liabilities 56,000 Fixed assets 81,000 Long-term debt 30,000 Equity 130,000 Total assets $ 216,000 Total liabilities and equity $ 216,000 Income Statement Sales (all on credit) $ 290,000 Cost of goods sold 180,000 Gross margin 110,000 Selling and administrative expenses 43,000 Depreciation 7,000 EBIT...
The Ferri Furniture Company: Balance Sheet as of December 31, 2016 (In Thousands) Cash $ 277,000...
The Ferri Furniture Company: Balance Sheet as of December 31, 2016 (In Thousands) Cash $ 277,000 Accounts Payable $ 169,000 Receivables 220,000 Notes Payable 74,000 Inventories 145,000 Other current liabilities 57,000 Total current assets $ 642,000 Total current liabilities $ 300,000 Net fixed assets 305,000 Long-term debt 66,500 Common equity 581,000 Total assets $ 947,500 Total liabilities & equity $ 947,500 The Ferri Furniture Company: Income Statement for Year Ended December 31, 2016 (In Thousands) Sales $ 3,231,000 Cost of...
Use the balance sheet and income statement below : CLANCY’S DOG BISCUIT CORPORATION Balance Sheet as...
Use the balance sheet and income statement below : CLANCY’S DOG BISCUIT CORPORATION Balance Sheet as of December 31, 2015 and 2014 (in millions of dollars) Assets 2015 2014 Liabilities and Equity 2015 2014 Current assets: Current liabilities: Cash and marketable securities $ 8 $ 8 Accrued wages and taxes $ 13 $ 7 Accounts receivable 38 30 Accounts payable 27 25 Inventory 41 35 Notes payable 25 23 Total $ 87 $ 73 Total $ 65 $ 55 Fixed...
Income statement and balance sheet data for The Sports Shack are provided below. The Sports Shack...
Income statement and balance sheet data for The Sports Shack are provided below. The Sports Shack Income Statements For the years ended December 31 2019 2018 Sales revenue $8,200,000 $6,600,000 Cost of goods sold 6,100,000 4,700,000 Gross profit 2,100,000 1,900,000        Expenses:            Operating expenses 1,450,000 1,400,000            Depreciation expense 90,000 100,000            Interest expense 25,000 50,000            Income tax expense 95,000 80,000                Total expenses 1,660,000 1,630,000 Net income $440,000 $270,000 The Sports Shack Balance Sheets December 31 Assets 2019 2018 2017 Current assets:         Cash...
Deacon Corporation has provided the following financial data from its balance sheet and income statement: Year...
Deacon Corporation has provided the following financial data from its balance sheet and income statement: Year 2 Year 1 Total assets $ 1,210,000 $ 1,173,000 Total liabilities $ 471,000 $ 467,000 Total stockholders' equity $ 739,000 $ 706,000 Net operating income (income before interest and taxes) $ 68,351 Interest expense $ 21,000 The company’s times interest earned ratio for Year 2 is closest to: Multiple Choice 0.66 4.25 3.25 2.25 2. Falmouth Corporation's debt to equity ratio is 0.6. Current...
ADVERTISEMENT
Need Online Homework Help?

Get Answers For Free
Most questions answered within 1 hours.

Ask a Question
ADVERTISEMENT