Question

“Fill in missing bars with formula”

Data Section Global Technology Comparative Income Statement For Years Ended December 31, 2013 and 2012 2013 $3.753 000 310220001 2012 $3516 075 22820 000 $132.000 84.750 News Cost of merchandi Gross poft Selling expens General expenses Total operating expenses Operating income Other expenses ( est) Income before income tax Income tax Not income 35.000 135 300 Global Technology Comparative Retained in Statement For Years Ended December 31, 2013 and 2012 $162861031420095 Retained in my Net income for you Commenc ede Retained earnings December 31 Global Technology Comparative Balance Sheet For Years Ended December 31, 2013 and 2012 2013 $14 330 25 AC Cash Accounts receivable Merchandise inventory Prepaid expenses Plantasets (net) Totalt 814.500 41500 2025.000 100 000 $342.240 S6400 000 Libilities & Schede Equity Accue Bodi ya 1000 Totales Common stock Retained earnings Total stockholders' equity Total liabilities & stockholders' equity Answer Section $600,300 Liquidity ratios Acid-test (quick) ratio Current rate Activity is Accounts receivablete Inventory move Profit Grossport Net income to sales Rate cared on all assets Rate cared on co c Coverage rates Debe to total assets Times interest carned k equity

Answer 1

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Income Statement	2013	2012
Net Sales	3,753,000.00	3,516,075.00
Cost of merchandise sold	3,102,000.00	2,820,000.00
Gross Profit	651,000.00	696,075.00
Selling Expense	132,000.00	123,000.00
General Expense	84,750.00	81,660.00
Total Operating Expense	216,750.00	204,660.00
Operating Income	434,250.00	491,415.00
Other Expense (Interest)	36,000.00	36,000.00
Income before taxes	398,250.00	455,415.00
Income tax expense	135,300.00	164,400.00
Net Income	262,950.00	291,015.00
Retained Earnings Statement	2013	2012
Retained Earnings, January 1	1,628,610.00	1,420,095.00
Net Income for year	262,950.00	291,015.00
Total	1,891,560.00	1,711,110.00
Common Stock Dividends	102,000.00	82,500.00
Retained Earnings, December 31	1,789,560.00	1,628,610.00
Balance Sheets
Assets	2013	2012
Current Assets
Cash	41,700.00	34,830.00
Accounts Receivable	206,400.00	232,500.00
Merchandise Inventory	814,500.00	825,480.00
Prepaid Expenses	4,500.00	22,500.00
Total Current Assets	1,067,100.00	1,115,310.00
Plant assets, net	2,025,000.00	1,800,000.00
Total Assets	3,092,100.00	2,915,310.00
Liabilities & Stockholders' Equity
Liabilities
Accounts payable	342,240.00	326,400.00
Current Liabilities	342,240.00	326,400.00
Bonds payable, due 2020	360,000.00	360,000.00
Total Liabilities	702,240.00	686,400.00
Common Stock	600,300.00	600,300.00
Retained Earnings	1,789,560.00	1,628,610.00
Total Stockholders' Equity	2,389,860.00	2,228,910.00
Total Liabilities & Stockholders' Equity	3,092,100.00	2,915,310.00
Total Current Assets	1,067,100.00	1,115,310.00
Less:
Inventory	814,500.00	825,480.00
Prepaid Expense	4,500.00	22,500.00
Quick Assets	248,100.00	267,330.00
	2013	2012
Accounts Receivable (net)	206,400.00	232,500.00
Average Receivable (net)	219,450.00
Merchandise Inventory	814,500.00	825,480.00
Average Inventory	819,990.00

Liquidity Ratios	2013
Current Ratio	3.12
Current Assets/Current Liabilities
Acid Test Ratio	0.72
Quick Assets/Current Liabilities
Activity Ratios
Accounts Receivables Turnover	17.10
Sales Revenue/ Average Receivable
Inventory Turnover	3.78
Cost of merchandise sold/Average Inventory
Profitability Ratios
Gross Profit Ratio	17.35%
Gross Profit/Net Sales
Net Income to Sales	7.01%
Net Income/Net Sales
Rate earned on Total Assets	8.50%
Net Income/Total Assets
Rate earned on Common Stock Equity	11.00%
Net Income/Common Stock Equity
Coverage Ratios
Debt to Total Assets	0.23
Total Liabilities/ Total Assets
Times interest earned	12.06
Operating Income/ Interest Expense