Carla Vista Co. provides you with the following balance sheet information as of December 31, 2022.
Carla Vista Co. provides you with the following balance sheet information as of December 31, 2022.
Current assets | $13,570 | Current liabilities | $14,160 | |||
|---|---|---|---|---|---|---|
Long-term assets | 31,270 | Long-term liabilities | 16,520 | |||
Total assets | $44,840 | Stockholders’ equity | 14,160 | |||
Total liabilities and stockholders’ equity | $44,840 |
In addition, Carla Vista reported net income for 2022 of $18,880, income tax expense of $3,776, and interest expense of $1,534.
Compute the current ratio and working capital for Carla Vista for 2022. (Round current ratio to 2 decimal places, e.g. 2.75. Enter negative amounts using either a negative sign preceding the number e.g. -45 or parentheses e.g. (45).)
Current ratio | enter the current ratio rounded to 2 decimal places
| :1 | |
|---|---|---|---|
Working capital | $enter a dollar amount
|
Assume that at the end of 2022, Carla Vista used $3,540 cash to pay off $3,540 of accounts payable. Compute the new ratios. (Round current ratio to 2 decimal places, e.g. 2.75. Enter negative amounts using either a negative sign preceding the number e.g. -45 or parentheses e.g. (45).)
Current ratio | enter the current ratio rounded to 2 decimal places
| :1 | |
|---|---|---|---|
Working capital | $enter a dollar amount
|
Compute the debt to assets ratio and the times interest earned for Carla Vista for 2022. (Round answers to 2 decimal places, e.g. 2.75. Enter negative amounts using either a negative sign preceding the number e.g. -45 or parentheses e.g. (45).)
Debt to assets ratio | enter the debt to assets ratio rounded to 2 decimal places
| :1 | |
|---|---|---|---|
Times interest earned ratio | enter the Times interest earned ratio rounded to 2 decimal places
| times |
Homework Answers
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Carla Vista Co. provides you with the following balance sheet information as of December 31, 2022.
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These items are taken from the financial statements of Carla Vista Co. for 2022. Retained earnings...
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Suppose you have been presented with selected information taken from the financial statements of Southwest Airlines...
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Co., shown below.
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Balance Sheet (partial)
December 31
(in millions)
2022
2021
Total current assets
$2,795
$4,450
Noncurrent assets
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12,360
Total assets
$13,245
$16,810
Current liabilities
$2,795
$4,895
Long-term liabilities
6,495
4,990
Total liabilities
9,290
9,885
Shareholders’ equity
3,955
6,925
Total liabilities and shareholders’
equity
$13,245
$16,810
Other information:
2022
2021
Net income (loss)
$ 175
$ 565
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Do It! Review 10-04 Crane Company provides you with the following balance sheet information as of December 31, 2022. Current assets Long-term assets Total assets 59,430 21,730 $31,160 Current liabilities Long-term liabilities Stockholders' equity Total liabilities and stockholders' equity $9,840 11,480 9,840 $31,160 In addition, Crane reported net income for 2022 of 513,120, income tax expense of $2,624, and interest expense of $1,066. Compute the current ratio and working capital for Crane for 2022. (Round current ratio to 2 decimal...
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Suppose you have been presented with selected information taken
from the financial statements of Southwest Airlines
Co., shown below.
SOUTHWEST AIRLINES CO.
Balance Sheet (partial)
December 31
(in millions)
2022
2021
Total current assets
$2,795
$4,450
Noncurrent assets
10,450
12,360
Total assets
$13,245
$16,810
Current liabilities
$2,795
$4,895
Long-term liabilities
6,495
4,990
Total liabilities
9,290
9,885
Shareholders’ equity
3,955
6,925
Total liabilities and shareholders’
equity
$13,245
$16,810
Other information:
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2021
Net income (loss)
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$ 565
Income tax...
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