Homework Answers
1. Current Ratio = Current Assets / Current Liabilities
= (Cash + Inventories + Receivables) /( Accounts Payable + Notes payable + Accruals)
= 220,000 / 160,000 = 1.375
2. Debt ratio = Total Debt / Total Assets = 300,000 / 700,000 = 0.43 (rounded off)
3. Asset turnover ratio = Sales / Total assets = 1,400,000 /700,000 = 2
4. Days sales outstanding = [ Accounts Receivable / (Total Credit Sales / No of days)] = [ 70,000/ (1,400,000/360)] = 18 days
5. Profit Margin = (Net Income / Sales) * 100 =( 63,000 / 1,400,000)*100 = 4.5%
6. Return on equity = (Net Income / Common Equity) * 100 = (63,000 / 400,000)*100 = 15.75%
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