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g 3. Given the balance sheet and income state for Simmons Maintenaethet Simmons & Professional Studies ratios that are also shown for the industry average. For each ratio,indica is better or worse than the industry average. For inventory turn cost of goods sold. Company, compute the use sales rather than SIMMONS MAINTENANCE COMPANY Assets Cash Acets. Receivable Inventory Current Assets Net Fixed Assets Liabilities S 15,000 Accounts Payable S 21,000 22,000 Notes Payable 20,000 30,000 Accrued Expenses 67,000 Current Liabilities 46,000 30,000 -73,000 Long-term Debt Stockholders Equity Total Assets S1-40,000 Total Liabilities & Stockholders Equity $140,000 tate $120,000 45,000 75,000 20,000 Sales (80% credit) Less: Cost of Goods Sold Gross Profit Selling and Administrative Expense Rent Expense (Lease) EBIT Interest Expense Earnings before taxes Taxes (@ 25%) Net Income 8,000 47,000 一5.000 42.000 10,500 S 31,500 15,000 Common shares outstanding EPS S 2.10
Industry Better (B) or Average Worse W Ratios for Ratio Profit margin 17.5% 20.8% Return on assets Return on equity 35% Receivables turnover Avg. collection period 68.0 days Fixed asset turnover Total asset turnover Current ratio Quick ratio Debt to total assets Times interest earned Fixed charge coverage 3.5x 2.4x .76x 1.28 85 .45 12.0x 3.6x
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Answer #1

S-lution,8 . Sales A1DO. Total NetAneh 47000 X100 $14000 O ROA-33.57%. - Net Inuome 400 Roc) 31,So0xl00 RDE-49.22 vera Aeount Recalvobie 4.36 S 22000 Reesraile tumov 4.364.4 Reeeivable tumove 쇠니Net creot Sale» ACP 365 22p00 365 x22000 36000 3 65 Iapoo 83.645 96000 83.7 DaHS → Trven.lturnow. Lnventrj tumove 300 Inventor T Ratioニ1-5 lumove Fixed Asseわtumovu Ratio- NetSales fixed Asnes Arv Hxed = $120000 21.64 Tumove Ra300 0 Total Agde TotaIA Ehtumoeiー も120,000 Ratro oo =0.857 Total Aumov086 214Cument Asses Current abithies 9) 4b000 Current Ratio 1.46 Quick Ratio Quick curent uabiUties, ament uabili 串2000 0804 46000 Sbobtterm U Total Ageh 本46000+$30000 -$76000 140000 -0.542 ttales 串140000 Debt to D.54 ERPT) (12) -Times in ereoteamed Ratio = Earning berserau 41003. earmed SDO0 3 1(13) Ratio-EBIT lease paymen 一本47000 t $8000- SS000 Ked Cia $1300 0 Roth =423 Ratio Ratio -fer Simmons . Arv 35 (W-N-1 17.5% 49.22%(w.N.3) 35% Same hW 15x (W、N-6) 3.5x 6 1-u^ N-3)1.28 0.00 (h-N40) 8 Cuent Aatio OtckPato Debt to ttl Asseta 85 .45 4.3 (w N-336x

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