Got It Right Corporation Balance Sheets as of December 31, PY and CY PY CY Assets...

Question

Question

Got It Right Corporation Balance Sheets as of December 31, PY and CY PY CY Assets Current assets Cash Accounts receivable Inv

Got It Right Corporation Income Statement for CY Sales Cost of Good Sold Depreciation Earnings Before Interest & Taxes Intere

Problem 3: Calculate the following Long-term solvency ratios for Got It Right. (Use year-end figures rather than average valu

business finance

Add a comment Improve this question Transcribed image text

Answer 1

Answer #1

3a)
Total debt ratio = Total debt / Total assets
= ($188,094 + 130,000) / $690,178
= $318,094 / $690,178
= 0.46 times

3b)
Debt-Equity ratio = Total debt / Shareholder's equity
= $318,094 / $372,084
= 0.85 times

3c)
Equity multiplier = Total assets / Total shareholder's equity
= $690,178 / $372,084
= 1.85 times

3d)
Times interest earned ratio = EBIT / Interest expense
= $350,600 / $24,065
= 14.57 times

3e)
Cash coverage ratio = Cash and cash equivalents / Current liabilities
= $12,676 / $201,990
= 0.06 times

Add a comment

Answer 2

Similar Homework Help Questions

Got It Right Corporation Balance Sheets as of December 31, PY and CY PY CY Assets...

Got It Right Corporation Balance Sheets as of December 31, PY and CY PY CY Assets Current assets Cash Accounts receivable Inventory Total Fixed Assets Net plant and equipment Total Assets 11,686 $ 69,178 61,815 142,679 12,676 78,100 76,423 167,199 547,499 690,178 _ $ 650,998 818,197 Liabilities and Owners' Equity Current liabilities Accounts payable Notes payable Total Long-term debt Owners' equity Common stock and paid-in capital Retained Earnings Total Total liabilities and owners' equity 48,600 $ 139,494 188,094 130,000 57,289...
please answer 1a 1b 1c Got It Right Corporation Balance Sheets as of December 31, PY...

please answer 1a 1b 1c Got It Right Corporation Balance Sheets as of December 31, PY and CY PY CY Assets Current assets Cash Accounts receivable Inventory Total Fixed Assets Net plant and equipment Total Assets 11,686 $ 69,178 61,815 142,679 12,676 78,100 76,423 167,199 547,499 690,178 _ $ 650,998 818,197 Liabilities and Owners' Equity Current liabilities Accounts payable Notes payable Total Long-term debt Owners' equity Common stock and paid-in capital Retained Earnings Total Total liabilities and owners' equity 48,600...
JUST DEW IT CORPORATION 2017 and 2018 Balance Sheets 2018 11250Accounts payable Assets Liabilities and Owners...

JUST DEW IT CORPORATION 2017 and 2018 Balance Sheets 2018 11250Accounts payable Assets Liabilities and Owners Equity 2017 2017 2018 Current assets Current liabilities s 9.000 Cash $ 70,000 73,250 31,000 Accounts Inventory Total 12000 24750Notes payable 72000 93750 receivable 23,800 $ 103,000 $ 129.750 $ 93,800 $104.250 $ 42.000$ 40,000 Common stock and paid-in s 50,000 50.000 214.200 305.750 $264,200 $355,750 Total liablities and owners' $400,000 $500,000 Total Long-term debt Owners equity surplus Retained earnings Net plant and equipment...

Required information [The following information applies to the questions displayed below.] Simon Company's year-end balance sheets...

Required information [The following information applies to the questions displayed below.] Simon Company's year-end balance sheets follow. 1 Yr Ago 2 Yrs Ago At December 31 Current Yr Assets $ 30, 149 87, 380 113, 193 9,709 275, 723 $ 36,665 $ 63,540 80,671 9,064 255,020 $ 444,960 $ 370, 800 37,443 48,946 51,601 Cash Accounts receivable, net Merchandise inventory Prepaid expenses Plant assets, net 4, 201 228, 609 Total assets $516, 154 Liabilities and Equity Accounts payable Long-term notes...
Assets 2017 2018 JUST DEW IT CORPORATION 2017 and 2018 Balance Sheets Liabilities and Owners' Equity...

Assets 2017 2018 JUST DEW IT CORPORATION 2017 and 2018 Balance Sheets Liabilities and Owners' Equity 2018 2017 Current liabilities 12.750 Accounts payable $ 50,000 14,250 Notes payable 19,000 95,250 $ Current assets Cash Accounts receivable Inventory $ 6,600 12,200 78,200 $ 68,750 35,500 Total $ 97,000 $ 122,250 Total $ 69,000 $ 48,000 $ 104,250 $ 45,000 Long-term debt Owners' equity Common stock and paid-in $ 50.000 surplus Retained earnings 233,000 $ 50,000 300,750 Total $ 97,000 $ 122,250...
Simon Company's year-end balance sheets follow. Current Yri Yr Ago 2 Yrs Ago At December 31...

Simon Company's year-end balance sheets follow. Current Yri Yr Ago 2 Yrs Ago At December 31 Assets Cash Accounts receivable, net Merchandise inventory Prepaid expenses Plant assets, net Total assets Liabilities and Equity Accounts payable Long-term notes payable secured by mortgages on plant assets Common stock, $10 par value Retained earnings Total liabilities and equity $ 25,385 77,328 91,561 8,258 236,505 $439,037 $ 29, 370 $ 30,912 52,987 40,800 67,918 44,339 7,789 3,400 220, 416 195,949 $ 378, 480 $...

The balance sheets for Plasma Screens Corporation and additional information are provided below PLASMA SCREENS CORPORATION Balance Sheets December 31, 2018 and 2017 2018 2017 Assets Current assets:...

The balance sheets for Plasma Screens Corporation and additional information are provided below PLASMA SCREENS CORPORATION Balance Sheets December 31, 2018 and 2017 2018 2017 Assets Current assets: Cash Accounts rece Inventory Investments $128,500 76,000 94,000 3,900 119,000 91,000 79,000 1,900 ivable Long-term assets: Land Equipment Less: Accumulated depreciation 470,000 780,000 (418,000) 470,000 660,000 (258,000) $ 1,134,400$ 1,162,900 Total assets Liabilities and Stockholders' Equity Current liabilities Accounts paya Interest payable Income tax payable $98,000 $84,000 11,900 4,900 ble 6,000 8,000...
Simon Company’s year-end balance sheets follow. At December 31 2017 2016 2015 Assets Cash $ 36,335...

Simon Company’s year-end balance sheets follow. At December 31 2017 2016 2015 Assets Cash $ 36,335 $ 42,472 $ 42,524 Accounts receivable, net 107,459 73,568 56,120 Merchandise inventory 139,163 102,226 60,994 Prepaid expenses 12,179 11,377 4,773 Plant assets, net 333,281 312,096 273,889 Total assets $ 628,417 $ 541,739 $ 438,300 Liabilities and Equity Accounts payable $ 159,605 $ 89,723 $ 59,013 Long-term notes payable secured by mortgages on plant assets 120,505 123,354 94,927 Common stock, $10 par value 162,500 162,500...
SMOLIRA GOLF CORP 2017 and 2018 Balance Sheets Assets Liabilities and Owners' Equity 2017 2018 2017...

SMOLIRA GOLF CORP 2017 and 2018 Balance Sheets Assets Liabilities and Owners' Equity 2017 2018 2017 2018 Current assets Accounts Inventory Total Current liabilities $ 24,076 12,748 25,742 24,400Accounts payable 23,48427400 1,100 17,500 Cash 15,500 27,400 Notes payable Other 13,000 receivable 11,871 48,35556,000 $72,00085,616 $62,566 67,300 Total Long-term debt Owners' equity Common stock and paid-in s 45,000 45,000 224,906243,384 Accumulated retained earnings Fixed assets Net plant and equipment $269,906$288,384 $327,695 $362,700 Total $430,000 equity Total liabilities and owners'$390,261 $430,000 Total...

Required information [The following information applies to the questions displayed below.) Simon Company's year-end balance sheets...

Required information [The following information applies to the questions displayed below.) Simon Company's year-end balance sheets follow. Current Yr 1 Yr Ago 2 Yrs Ago At December 31 Assets Cash Accounts receivable, net Merchandise inventory Prepaid expenses Plant assets, net Total assets Liabilities and Equity Accounts payable Long-term notes payable secured by mortgages on plant assets Common stock, $10 par value Retained earnings Total liabilities and equity $ 26,752 81,533 103,517 8,615 247,036 $467,453 $ 31,593 $ 33,588 57,545 45,241...

Got It Right Corporation Balance Sheets as of December 31, PY and CY PY CY Assets...

Homework Answers

Add Answer to:
Got It Right Corporation Balance Sheets as of December 31, PY and CY PY CY Assets...

Post as a guest

Earn Coins