| Requirements: Calculate the following for each year 2017 and 2018. | Assessment | ||||
| 2018 | 2017 | ||||
| Calculate the Current Ratio: | |||||
| Determine the Working Capital: | |||||
| Calculate the Quick Ratio: | |||||
| Determine the Debt/Equity Ratio: | |||||
| Calculate the Price/Earnings Ratio | |||||
| In the Assessment column you should place the word "improving" for all of the items that have seen an improvement | |||||
| from 2017 to 2018. | |||||
Homework Answers
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Requirements: Calculate the following for each year 2017
and 2018.
Assessment
2018
2017
Calculate the Current...
1 Requirements Calculate the following ratios for 2018 and 2017. When calculating days, round you...
1 Requirements Calculate the following ratios for 2018 and 2017. When calculating days, round your answer to the nearest whole number a. Current ratio b. Quick (acid-test) ratio c. Inventory turnover and days' inventory outstanding (DIO) d. Accounts receivable turnover e. Days' sales in average receivables or days' sales outstanding (DSO) f. Accounts payable turnover and days' payable outstanding (DPO). Use 1. cost of goods sold in the formula for accounts payable turnover. g. Cash conversion cycle (in days) (When...
KORBIN COMPANY Comparative Income Statements For Years Ended December 31, 2018, 2017, and 2016 2018 2017...
KORBIN COMPANY Comparative Income Statements For Years Ended December 31, 2018, 2017, and 2016 2018 2017 2016 Sales $389,743 $298,575 $207,200 Cost of goods sold 234,625 188,481 132,608 Gross profit 155, 118 119, 174 74,592 Selling expenses 55,344 41,203 27,350 Administrative expenses 35,077 26,275 17,198 Total expenses 90,421 67,478 44,548 Income before taxes 64,697 42,696 30,844 Income tax expense 12,034 8,753 6,099 Net income $ 52,663 $ 33,943 $ 23,945 KORBIN COMPANY Comparative Balance sheets December 31, 2018, 2017, and...
SMOLIRA GOLF CORP 2017 and 2018 Balance Sheets 2018 Current liabilites 2017 2017 2018 Current Assets...
SMOLIRA GOLF CORP 2017 and 2018 Balance Sheets 2018 Current liabilites 2017 2017 2018 Current Assets 34,385 37,837 Account payable 36,722 42,582 Cash Accounts Receivable 17,801 27,766 Notes payable 19,008 16,200 Inventory 36,310 42,632 Other 19,864 24,634 Total 88,496 108,235 Total 75,594 83,416 115,000 145,000 Fixed Assets Net plant and equipment 464,315 519,633 Long-term debt Owners' equity Common stock and paid-in surplus Accumulated retained earnings 55,000 55,000 307,217 344,452 362,217 399,452 Total Total liablities and owners' equity Total Assets 552,811.0...
Requirements 1. Compute the following ratios for 2018 and 2017: a. Current ratio b. Cash ratio c. Times-interest-earned...
Requirements 1. Compute the following ratios for 2018 and 2017: a. Current ratio b. Cash ratio c. Times-interest-earned ratio d. Inventory turnover e. Gross profit percentage f. Debt to equity ratio g. Rate of return on common stockholders' equity h. Earnings per share of common stock I. Pricelearnings ratio 2. Decide (a) whether Tanfield's ability to pay debts and to sell inventory improved or deteriorated during 2018 and (b) whether the investment attractiveness of its common stock appears to have...
The following are the comparative accounts for MM Enterprise for the financial year 2018 and 2017:...
The following are the comparative accounts for MM Enterprise for the financial year 2018 and 2017: 2018 2017 Accounts (RM) 300,000 (RM) 250,000 Sales Cost of goods sold Expenses Net profit Equipment Cash 60,000 50,000 80,000 80,000 160,000 120,000 420,000 10,000 500,000 8,000 Inventories 30,000 40,000 Debtors 12,000 14,000 Prepaid expenses Creditors 4,000 3,000 10,000 15,000 Accrued expenses 10,000 6.000 Bank loan 150,000 100,000 Total Equities 410,000 400,000 Required: Calculate (use two decimal points) the following ratios for 2018: (a)...
Requirements: - Complete the common-size for 2018 and 2017 for both the balance sheets and income...
Requirements: - Complete the common-size for 2018 and 2017 for both the balance sheets and income statements (orange shaded areas). - Required; Round each answer to one decimal place (i.e. 46.3%) Rocky Road Bicycles, Inc. Comparative Balance Sheets December 31, 2018 and 2017 Rocky Road Bicycles, Inc. Income Statements For the Years Ended December 31, 2018 and 2017 2018 Common Size 2017 Common Size 2018 Common Size 2017 Common Size $ Assets Cash Account receivable Inventory Prepaid rent Plant assets...
KORBIN COMPANY Comparative Income Statements For Years Ended December 31, 2018, 2017, and 2016 2018 2017...
KORBIN COMPANY Comparative Income Statements For Years Ended December 31, 2018, 2017, and 2016 2018 2017 2016 sales $389,743 $298,575 $207,200 Cost of goods sold Gross profit Selling expenses Administrative expenses Total expenses Income before taxes Income tax expense 234,625 188,401 110,174 41,203 26,275 67,478 42,696 8,753 132,608 155,118 55, 344 35,077 90,421 64,697 12,034 74,592 27,350 17,198 44,548 30,044 6,099 Net income $ 52,663 $ 33,943 $ 23,945 KORBIN COMPANY Comparative Balance Sheets December 31, 2018, 2017, and 2016...
Comparative balance sheets for 2018 and 2017, a statement of income for 2018, and additional information...
Comparative balance sheets for 2018 and 2017, a statement of income for 2018, and additional information from the accounting records of Red, Inc., are provided below. RED, INC. Comparative Balance Sheets December 31, 2018 and 2017 ($ in millions) 2018 2017 Assets Cash $ 28.0 $ 124.0 Accounts receivable 158.0 120.0 Prepaid insurance 10.0 5.0 Inventory 266.0 162.0 Buildings and equipment 379.0 335.0 Less: Accumulated depreciation (98.0 ) (235.0 ) $ 743.0 $ 511.0 Liabilities Accounts payable $ 84.0 $...
Preston Media Corporation Comparative Balance Sheet December 31, 2018 and 2017 2018 2017 Assets $ Current...
Preston Media Corporation Comparative Balance Sheet December 31, 2018 and 2017 2018 2017 Assets $ Current Assets: Cash Accounts Receivable Long-term Assets: Plants Assets 5,000 $ 9,600 3,900 5,100 Accumulated Depreciation—Plant Assets 105,350 84,350 (29,350) (18,350) 90,600 $ 75,000 $ Total Assets Liabilities Current Liabilities: Accounts Payable $ 8,000 $ 4,500 Long-term Liabilities: 9,000 12,000 17,000 16,500 Notes Payable Total Liabilities Stockholders' Equity Common Stock, no par Retained Earnings 27,000 46,600 73,600 90,600 $ 23,000 35,500 58,500 75,000 Total Stockholders'...
Just Dew It Corporation reports the following balance sheet information for 2017 and 2018. JUST...
Just Dew It Corporation reports the following balance sheet information for 2017 and 2018. JUST DEW IT CORPORATION 2017 and 2018 Balance Sheets Assets Liabilities and Owners’ Equity 2017 2018 2017 2018 Current assets Current liabilities Cash $ 8,850 $ 14,200 Accounts payable $ 37,500 $ 46,600 Accounts receivable 15,750 23,000 Notes payable 11,850 19,400 Inventory 34,650 52,200 Total $ 59,250 $ 89,400 Total $ 49,350 $ 66,000 Long-term debt $ 27,000 $ 24,000 Owners’ equity Common stock and...
1 Requirements Calculate the following ratios for 2018 and 2017. When calculating days, round your answer to the nearest whole number a. Current ratio b. Quick (acid-test) ratio c. Inventory turnover and days' inventory outstanding (DIO) d. Accounts receivable turnover e. Days' sales in average receivables or days' sales outstanding (DSO) f. Accounts payable turnover and days' payable outstanding (DPO). Use 1. cost of goods sold in the formula for accounts payable turnover. g. Cash conversion cycle (in days) (When...
KORBIN COMPANY Comparative Income Statements For Years Ended December 31, 2018, 2017, and 2016 2018 2017 2016 Sales $389,743 $298,575 $207,200 Cost of goods sold 234,625 188,481 132,608 Gross profit 155, 118 119, 174 74,592 Selling expenses 55,344 41,203 27,350 Administrative expenses 35,077 26,275 17,198 Total expenses 90,421 67,478 44,548 Income before taxes 64,697 42,696 30,844 Income tax expense 12,034 8,753 6,099 Net income $ 52,663 $ 33,943 $ 23,945 KORBIN COMPANY Comparative Balance sheets December 31, 2018, 2017, and...
SMOLIRA GOLF CORP 2017 and 2018 Balance Sheets 2018 Current liabilites 2017 2017 2018 Current Assets 34,385 37,837 Account payable 36,722 42,582 Cash Accounts Receivable 17,801 27,766 Notes payable 19,008 16,200 Inventory 36,310 42,632 Other 19,864 24,634 Total 88,496 108,235 Total 75,594 83,416 115,000 145,000 Fixed Assets Net plant and equipment 464,315 519,633 Long-term debt Owners' equity Common stock and paid-in surplus Accumulated retained earnings 55,000 55,000 307,217 344,452 362,217 399,452 Total Total liablities and owners' equity Total Assets 552,811.0...
Requirements 1. Compute the following ratios for 2018 and 2017: a. Current ratio b. Cash ratio c. Times-interest-earned ratio d. Inventory turnover e. Gross profit percentage f. Debt to equity ratio g. Rate of return on common stockholders' equity h. Earnings per share of common stock I. Pricelearnings ratio 2. Decide (a) whether Tanfield's ability to pay debts and to sell inventory improved or deteriorated during 2018 and (b) whether the investment attractiveness of its common stock appears to have...
The following are the comparative accounts for MM Enterprise for the financial year 2018 and 2017: 2018 2017 Accounts (RM) 300,000 (RM) 250,000 Sales Cost of goods sold Expenses Net profit Equipment Cash 60,000 50,000 80,000 80,000 160,000 120,000 420,000 10,000 500,000 8,000 Inventories 30,000 40,000 Debtors 12,000 14,000 Prepaid expenses Creditors 4,000 3,000 10,000 15,000 Accrued expenses 10,000 6.000 Bank loan 150,000 100,000 Total Equities 410,000 400,000 Required: Calculate (use two decimal points) the following ratios for 2018: (a)...
Requirements: - Complete the common-size for 2018 and 2017 for both the balance sheets and income statements (orange shaded areas). - Required; Round each answer to one decimal place (i.e. 46.3%) Rocky Road Bicycles, Inc. Comparative Balance Sheets December 31, 2018 and 2017 Rocky Road Bicycles, Inc. Income Statements For the Years Ended December 31, 2018 and 2017 2018 Common Size 2017 Common Size 2018 Common Size 2017 Common Size $ Assets Cash Account receivable Inventory Prepaid rent Plant assets...
KORBIN COMPANY Comparative Income Statements For Years Ended December 31, 2018, 2017, and 2016 2018 2017 2016 sales $389,743 $298,575 $207,200 Cost of goods sold Gross profit Selling expenses Administrative expenses Total expenses Income before taxes Income tax expense 234,625 188,401 110,174 41,203 26,275 67,478 42,696 8,753 132,608 155,118 55, 344 35,077 90,421 64,697 12,034 74,592 27,350 17,198 44,548 30,044 6,099 Net income $ 52,663 $ 33,943 $ 23,945 KORBIN COMPANY Comparative Balance Sheets December 31, 2018, 2017, and 2016...
Preston Media Corporation Comparative Balance Sheet December 31, 2018 and 2017 2018 2017 Assets $ Current Assets: Cash Accounts Receivable Long-term Assets: Plants Assets 5,000 $ 9,600 3,900 5,100 Accumulated Depreciation—Plant Assets 105,350 84,350 (29,350) (18,350) 90,600 $ 75,000 $ Total Assets Liabilities Current Liabilities: Accounts Payable $ 8,000 $ 4,500 Long-term Liabilities: 9,000 12,000 17,000 16,500 Notes Payable Total Liabilities Stockholders' Equity Common Stock, no par Retained Earnings 27,000 46,600 73,600 90,600 $ 23,000 35,500 58,500 75,000 Total Stockholders'...
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