What is Sherman, Inc.'s 20X2 times interest earned ratio?
a) 22.45 times
b) 31.37 times
c) 45.90 times
d) 46.00 times
Homework Answers
Times interest earned ratio
= Earnings before interest and taxes/Interest expense
= (467,000+1,200)/10,200
= 468,200/10,200
= 45.90 times
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What is Sherman, Inc.'s 20X2 times interest earned
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A.
Required:
1. Please calculate the following ratios and amounts: a) working
capital, b)
current ratio, c) acid-test ratio, d) cash to current liabilities
ratio, e) days’ sales
in receivables (based on ending accounts receivables), f) days’
sales in
inventory (based on cost of goods and ending inventory), g)
operating cycle,
h) total debt to equity ratio and i) times interest earned. For
your calculations,
assume that a year amounts for 360 days
The balance sheet and the income statement...
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collect its receivables in 20X2?
a) 10.07
b) 8.23
c) 6.48
d) 54.19
EXHIBIT A Sherman, Inc. Balance Sheet As of December 31, 20X1 and 20X2 Assets 20X1 20X2 $ 49,000 10,000 Current assets Cash Marketable securities Accounts receivable Inventory Total current assets $ 23,000 8,000 66.000 180.000 $277.000 92,000 170,000 $321.000 Noncurrent (fixed) assets Land Buildings Equipment Less: Accumulated depreciation Total fixed assets (net) Total assets $...
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Calculate the current ratio, quick ratio, long-term debt/total
assets, times interest earned, and fixed cost coverage using the
picture below.
X2 X3 X4 $2,500,000 3.200,000 3,500,000 4,000,000 1.900.000 2400.0002.700.000 3200.000 800,000 400,00D 25,000 200,000 10.000 20.000 30.000 60.000 15,000 107,500 COST OF GOODS SOLD GROSS PROFIT SELLING & ADMINISTRATIVE EXPENSE DEPRECIATION LEASES MISCELLANEOUS EXPENSE 600,000 400,000 800,000 800,000 400,000 160,000 190,000 138,700 25,000 175,000 170,000 89,000 EARNINGS BEFORE INTEREST & TAXES INTEREST EARNINGS BEFORE TAXES TAXES (35%) NET INCOME DIVIDENDS...
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Current Ratio
Quick Ratio
Times Interest Earned
Debt to Equity
Fixed Asset Turnover
Compute these ratios for all five years of data and present a
table of these ratios.
Results from Continuing Operations (000) 20x5 20X4 20x3 20x2 20X1 Net Sales Cost of Sales Selling General and Admin Exp. Operating Income 218623 171058 32619 14946 179345 141508 24386 13451 151803 122249 19803 9751 154458 121233 19878 13347 119840 98261 14903 6676 Interest Expense 2272 2285 1732 875 634 Pretax Income...
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A.
Required:
1. Please calculate the following ratios and amounts: a) working
capital, b)
current ratio, c) acid-test ratio, d) cash to current liabilities
ratio, e) days’ sales
in receivables (based on ending accounts receivables), f) days’
sales in
inventory (based on cost of goods and ending inventory), g)
operating cycle,
h) total debt to equity ratio and i) times interest earned. For
your calculations,
assume that a year amounts for 360 days
The balance sheet and the income statement...
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