The balance sheet for Shaver Corporation reported the following: cash, $11,000; short-term investments, $16,000; net acc...
The balance sheet for Shaver Corporation reported the following: cash, $11,000; short-term investments, $16,000; net accounts receivable, $47,000; inventories, $52,000; prepaids, $16,000; equipment, $121,000; current liabilities, $52,000; notes payable (long-term), $82,000; total stockholders’ equity, $129,000; net income, $4,520; interest expense, $6,800; income before income taxes, $8,880.
-
Compute Shaver’s debt-to-assets ratio and times interest earned ratio.
Debt to assets =
Times interest earned =
Homework Answers
| Cash | 11000 |
| Short-term investment | 16000 |
| Net accounts receivables | 47000 |
| Inventories | 52000 |
| Prepaids | 16000 |
| Equipment | 121000 |
| Total assets | 263000 |
| Current liabilities | 52000 |
| Notes payable (long-term) | 82000 |
| Total liabilities | 134000 |
| Debt to asset ratio = Total liabilities / Total assets = 134000 / 263000 | 0.51 |
| Earnings before interest and taxes (EBIT) = Income before income taxes + Interest expense = 8880 + 6800 | 15680 |
| Times interest earned = EBIT / Interest expense = 15680 / 6800 | 2.31 |
Add Answer to:
The balance sheet for Shaver Corporation reported the following: cash, $11,000; short-term investments, $16,000; net acc...
The balance sheet for Shaver Corporation reported the following: cash, $13,500; short-term investments, $18,500; net accounts...
The balance sheet for Shaver Corporation reported the following: cash, $13,500; short-term investments, $18,500; net accounts receivable, $52,000; inventories, $57,000; prepaids, $18,500; equipment, $111,000; current liabilities, $57,000; notes payable (long-term), $87,000; total stockholders’ equity, $126,500; net income, $5,020; interest expense, $7,800; income before income taxes, $10,380. 1.Compute Shaver’s debt-to-assets ratio and times interest earned ratio. (Round your answers to 2 decimal places.) 2. Based on these ratios, does it appear Shaver relies mainly on debt or equity to finance its...
The balance sheet for Shaver Corporation reported the following: cash, $10,500; short-term investments, $15,500; net accounts receivable, $46,000; inventories
The balance sheet for Shaver Corporation reported the following: cash, $10,500; short-term investments, $15,500; net accounts receivable, $46,000; inventories, $51,000; prepaids, $15,500; equipment, $117,000; current liabilities, $51,000; notes payable (long-term), $81,000; total stockholders’ equity, $123,500; net income, $4,420; interest expense, $6,600; income before income taxes, $8,580.Compute Shaver’s debt-to-assets ratio and times interest earned ratio. (Round your answers to 2 decimal places.)2-a. Based on these ratios, does it appear Shaver relies mainly on debt or equity to finance its assets?DebtEquity2-b. Is...
Need help getting debt-to-assets & time interest earned The balance sheet for Shaver Corporation reported the...
Need help getting debt-to-assets & time interest
earned
The balance sheet for Shaver Corporation reported the following cash, $16,000; short- term investments, $21,000; net accounts receivable. $57000; inventory, $62,000; prepaids, $21,000: equipment, $104,000 current liabilities, $62,000 notes payable (long-term), $92000, total stockholders equity $310,000, net income, $5,520; interest expense, $8.800; income before income taxes. $11.880. 1. Compute Shaver's debt-to-assets ratio and times interest earned ratio. (Round your answers to 2 decimal places.) Ratio Debt-to-Assets Times Interest Earned Based on these...
napter 10 Homework Help Save & Exit Submit The balance sheet for Shaver Corporation reported the...
napter 10 Homework Help Save & Exit Submit The balance sheet for Shaver Corporation reported the following cash, $13.500; short-term investments, $18,500, net accounts receivable. $52.000, inventories. $57,000: prepalds. $18,500, equipment, $111,000; current liabilities. $57,000, notes payable (long- term). $87.000 total stockholders' equity, $126,500; net income, $5,020; interest expense, $7.800; income before income taxes. $10,380 5.66 1. Compute Shaver's debt-to-assets ratio and times interest earned ratio (Round your answers to 2 decimal places.) oflook I Debt-to-Assets Times Interest Earned Ratio...
Part one: A) Barton Chocolates used a promissory note to borrow $1,050,000 on July 1, 2018,...
Part one: A) Barton Chocolates used a promissory note to borrow $1,050,000 on July 1, 2018, at an annual interest rate of 5 percent. The note is to be repaid in yearly installments of $210,000, plus accrued interest, on June 30 of every year until the note is paid in full (on June 30, 2023). Show how the results of this transaction would be reported in a classified balance sheet prepared as of December 31, 2018. (Do not round intermediate...
CABOT CORPORATION Balance Sheet December 31, 2817 Assets Cash Short-term investments Accounts receivable, net Notes receivable...
CABOT CORPORATION Balance Sheet December 31, 2817 Assets Cash Short-term investments Accounts receivable, net Notes receivable (trade) Merchandise inventory Liabilities and Equity $12,e8 Accounts payable 28,888 Income taxes payable 38,15e Long-term note payable, secured by $15,58e 4,000 3,188 8, Accrued wages payable 5,580 65,488 mortgage on plant assets Prepaid expenses Plant assets, net Total assets 3,ee Common stock 154,3e8 Retained earnings 77,75e 249,758 Total liabilities and equity $ 249,75e These are short-term notes recelvable arising from customer (trade) sales. Requlrec...
HALLBROOK INDUSTRIES, INC. Balance Sheet December 31, 2021 ($ in thousands) Assets Cash Short-term investments Accounts...
HALLBROOK INDUSTRIES, INC. Balance Sheet December 31, 2021 ($ in thousands) Assets Cash Short-term investments Accounts receivable Inventory Property, plant, and equipment (net) Total assets Liabilities and Shareholders' Equity Current liabilities Long-term liabilities Paid-in capital Retained earnings Total liabilities and shareholders' equity 360 310 360 370 2,600 $ 4,000 560 510 1,550 1,380 $ 4,000 The company's 2021 income statement reported the following amounts ($ in thousands) Net sales Interest expense Income tax expense Net income $6,200 50 150 320...
HALLBROOK INDUSTRIES, INC. Balance Sheet December 31, 2021 ($ in thousands) Assets Cash Short-term investments Accounts...
HALLBROOK INDUSTRIES, INC. Balance Sheet December 31, 2021 ($ in thousands) Assets Cash Short-term investments Accounts receivable Inventory Property, plant, and equipment (net) Total assets Liabilities and Shareholders' Equity Current liabilities Long-term liabilities Paid-in capital Retained earnings Total liabilities and shareholders' equity $ 330 280 330 360 2,300 $ 3,600 $ 530 480 1,400 1,190 $ 3,600 The company's 2021 income statement reported the following amounts ($ in thousands): Net sales Interest expense Income tax expense Net income $5,900 50...
Qualcomm Balance Sheet 2020 Cash & Short Term Investments 12,260 Cash Only 11,839 Short-Term Investments 421...
Qualcomm Balance Sheet 2020 Cash & Short Term Investments 12,260 Cash Only 11,839 Short-Term Investments 421 Cash & Short Term Investments Growth 1.42% Cash & ST Investments / Total Assets 37.20% Total Accounts Receivable 2,471 Accounts Receivables, Net 2,457 Accounts Receivables, Gross 2,504 Bad Debt/Doubtful Accounts -47 Other Receivables 14 Accounts Receivable Growth -14.91% Accounts Receivable Turnover 9.82 Inventories 1,400 Finished Goods 656 Work in Progress 667 Raw Materials 77 Other Current Assets 634 Miscellaneous Current Assets 634 Total Current...
The Amos Corporation reported the following income statement and balance sheet amounts and additional information for...
The Amos Corporation reported the following income statement and balance sheet amounts and additional information for the end of the current year. End of current year End of prior year Net sales revenue (all credit) $1,220,000 Cost of goods sold $725,000 Gross profit $495,000 Selling/general expenses $280,000 Interest expense $48,000 Net Income $167,000 Current assets $113,000 $82,000 Longminus−term assets $512,000 $440,000 Total assets $625,000 $522,000 Current liabilities $57,000 $52,000 Longminus−term liabilities $275,000 $245,000 Common stockholders' equity $293,000 $225,000 Total liabilities...
Need help getting debt-to-assets & time interest
earned
The balance sheet for Shaver Corporation reported the following cash, $16,000; short- term investments, $21,000; net accounts receivable. $57000; inventory, $62,000; prepaids, $21,000: equipment, $104,000 current liabilities, $62,000 notes payable (long-term), $92000, total stockholders equity $310,000, net income, $5,520; interest expense, $8.800; income before income taxes. $11.880. 1. Compute Shaver's debt-to-assets ratio and times interest earned ratio. (Round your answers to 2 decimal places.) Ratio Debt-to-Assets Times Interest Earned Based on these...
napter 10 Homework Help Save & Exit Submit The balance sheet for Shaver Corporation reported the following cash, $13.500; short-term investments, $18,500, net accounts receivable. $52.000, inventories. $57,000: prepalds. $18,500, equipment, $111,000; current liabilities. $57,000, notes payable (long- term). $87.000 total stockholders' equity, $126,500; net income, $5,020; interest expense, $7.800; income before income taxes. $10,380 5.66 1. Compute Shaver's debt-to-assets ratio and times interest earned ratio (Round your answers to 2 decimal places.) oflook I Debt-to-Assets Times Interest Earned Ratio...
CABOT CORPORATION Balance Sheet December 31, 2817 Assets Cash Short-term investments Accounts receivable, net Notes receivable (trade) Merchandise inventory Liabilities and Equity $12,e8 Accounts payable 28,888 Income taxes payable 38,15e Long-term note payable, secured by $15,58e 4,000 3,188 8, Accrued wages payable 5,580 65,488 mortgage on plant assets Prepaid expenses Plant assets, net Total assets 3,ee Common stock 154,3e8 Retained earnings 77,75e 249,758 Total liabilities and equity $ 249,75e These are short-term notes recelvable arising from customer (trade) sales. Requlrec...
HALLBROOK INDUSTRIES, INC. Balance Sheet December 31, 2021 ($ in thousands) Assets Cash Short-term investments Accounts receivable Inventory Property, plant, and equipment (net) Total assets Liabilities and Shareholders' Equity Current liabilities Long-term liabilities Paid-in capital Retained earnings Total liabilities and shareholders' equity 360 310 360 370 2,600 $ 4,000 560 510 1,550 1,380 $ 4,000 The company's 2021 income statement reported the following amounts ($ in thousands) Net sales Interest expense Income tax expense Net income $6,200 50 150 320...
HALLBROOK INDUSTRIES, INC. Balance Sheet December 31, 2021 ($ in thousands) Assets Cash Short-term investments Accounts receivable Inventory Property, plant, and equipment (net) Total assets Liabilities and Shareholders' Equity Current liabilities Long-term liabilities Paid-in capital Retained earnings Total liabilities and shareholders' equity $ 330 280 330 360 2,300 $ 3,600 $ 530 480 1,400 1,190 $ 3,600 The company's 2021 income statement reported the following amounts ($ in thousands): Net sales Interest expense Income tax expense Net income $5,900 50...
Most questions answered within 3 hours.
-
Principles of Programming midterm study guide help!
1.)
______ Which of the following would reference the...
asked 10 minutes ago -
Romeo wishes to throw a bouquet of flowers to Juliet, who is on
a second-story balcony,...
asked 25 minutes ago -
Why is QE a controversial monetary policy tool.
A. It may lead to excessive inflation.B. By...
asked 41 minutes ago -
A finite potential well has depth U0 = 2.78 eV . What is the
penetration distance...
asked 1 hour ago -
1. The bus bars of a power station are in two sections A and B
separated...
asked 1 hour ago -
Fiscal policy is the deliberate manipulation of taxes and
government spending to alter GDP, employment, inflation...
asked 2 hours ago -
evaluating an expression using only one digit and + and - as
operators ....3+5-1+7-5+8
-----------------------
stack...
asked 2 hours ago -
Two concentric current loops lie in the same plane. The smaller
loop has a radius of...
asked 2 hours ago -
1)Which of the following is an
important difference between qualified and nonqualified retirement
plans?
a. Qualified...
asked 2 hours ago -
What's the streaming business's problem on the
horizon?
asked 3 hours ago -
I need help with writing the conclusion for this online lab
report
Abstract
By testing the...
asked 3 hours ago -
For the reaction 1N2+3H2-----> 2NH3, would the reaction rate
trend be: delta[NH3]/ delta t = -2...
asked 4 hours ago