Homework Answers
1
Current Ratio = Current assets / current liabilities
Current Ratio = 14360 / 14400
Current Ratio = 0.99 : 1
Working Capital = Current assets - current liabilities
Working Capital = 14360 - 14400 =( 40 )
2.
Current Ratio = Current assets / current liabilities
Current Ratio = 14360 -3480 / 14400 - 3480
Current Ratio = 10880 / 10920
Current Ratio =0.99 :1
3480 is deducted from current assets because cash decreased and 3480 deducted from current liabilities as accounts payable decreased so making new current assets = 10880 and current liabilities =10920
Working Capital = Current assets - current liabilities
Working Capital =10880 - 10920
Working Capital = (40)
3
Debt to asset ratio
Debt / asset
Debt = Current liability + long term liability
Debt = 14400 +17360 = 31760
Asset =Current assets + long term assets
Asset = 14360 +31800 = 46160
Debt to asset ratio = 31760 / 46160
Debt to asset ratio = 0.68
Times Interest earned ratio = Net income before interest and tax / Interest expense
Net income before interest and tax = 19200+1586+3840 = 24626
Interest expense =1586
Times Interest earned ratio = 24626 / 1586
Times Interest earned ratio =15.52
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