Question

Following is the balance sheet of Finch Company for 2018: FINCH COMPANY Balance sheet Assets Cash Marketable securities Accou

Mortgage payable Bonds payable Common stock Retained earnings Total liabilities and stockholders equity 3,120 4,150 21,600 1

0 0
Add a comment Improve this question Transcribed image text
Answer #1
a.
Cash 15250
Marketable securities 8220
Accounts receivable 13340
Inventory 11500
Current assets 48310
Accounts payable 8660
Current notes payable 3120
Current liabilities 11780
Current ratio = Current assets / Current liabilities = 48310 / 11780 4.10
b.
Earnings per share = Net income / Average number of common stock shares outstanding = 14700 / 890 16.52 per share
c.
Quick (acid-test) ratio = ( Current assets - Inventory ) / Current liabilities = ( 48310 - 11500 ) / 11780 3.12
d.
Return on investment = Net income / Total assets = 14700 / 201710 7.29%
e.
Common stock 113500
Retained earnings 50680
Stockholders' equity 164180
Return on equity = Net income / Stockholders' equity = 14700 / 164180 8.95%
f.
Total debt = Total assets - Stockholders' equity = 201710 - 164180 37530
Debt to equity ratio = Total debt / Stockholders' equity = 37530 / 164180 22.86%
Add a comment
Know the answer?
Add Answer to:
Following is the balance sheet of Finch Company for 2018: FINCH COMPANY Balance sheet Assets Cash...
Your Answer:

Post as a guest

Your Name:

What's your source?

Earn Coins

Coins can be redeemed for fabulous gifts.

Not the answer you're looking for? Ask your own homework help question. Our experts will answer your question WITHIN MINUTES for Free.
Similar Homework Help Questions
  • Following is the balance sheet of Finch Company for 2018: FINCH COMPANY Balance sheet Assets Cash...

    Following is the balance sheet of Finch Company for 2018: FINCH COMPANY Balance sheet Assets Cash Marketable securities Accounts receivable Inventory Property and equipment Accumulated depreciation Total assets Liabilities and Stockholders' Equity Accounts payable Current notes payable Mortgage payable Bonds payable Common stock Retained earnings Total liabilities and stockholders' equity $ 14,550 7,900 12,800 11,200 167,500 (12,900) $ 201,050 8.690 3,000 4,300 21.360 113,700 50,000 $ 201,050 The average number of common stock shares outstanding during 2018 was 860 shares....

  • Following is the balance sheet of Finch Company for 2018: FINCH COMPANY Balance sheet Assets Cash...

    Following is the balance sheet of Finch Company for 2018: FINCH COMPANY Balance sheet Assets Cash $ 15,100 8,020 13,160 11,450 173,000 (12,600) $208,130 Marketable securities Accounts receivable Inventory Property and equipment Accumulated depreciation Total assets Liabilities and Stockholders' Equity Accounts payable Current notes payable Mortgage payable Bonds payable Common stock Retained earnings Total liabilities and stockholders' equity 8,930 3, 440 5,000 21,960 113,600 55,200 $208,130 The average number of common stock shares outstanding during 2018 was 860 shares. Net...

  • 6 Following is the balance sheet of Thornton Company for 2018 $ 15,050 12,560 Assets Cash...

    6 Following is the balance sheet of Thornton Company for 2018 $ 15,050 12,560 Assets Cash Marketable securities Accounts receivable! Inventory Property and equipment Accumulated depreciation Total assets Liabilities and Stockholders' Equity Accounts payable Current notes payable Mortgage payable Bonds payable Common stack Retained earnings Total liabilities and stockholders equity 167,500 012,680 5201, 780 58,18€ 31240 The average number of common stock shares outstanding during 2018 was 860 shares. Net income for the year was $14.700. Required Compute each of...

  • Following is the balance sheet of Gibson Company for 2018: GIBSON COMPANY Balance sheet Assets Cash Marketable secu...

    Following is the balance sheet of Gibson Company for 2018: GIBSON COMPANY Balance sheet Assets Cash Marketable securities Accounts receivable Inventory Property and equipment Accumulated depreciation $. 14,850 7,580 12,920 11,450 168,500 (12,000) $203,300 Total assets Liabilities and Stockholders Equity Accounts payable Current notes payable Mortgage payable Bonds payable 8,180 3,240 4,600 21,780 114,800 50,700 $203,300 Common stock Retained earnings Total 1iabilities and stockholders' equity The average number of common stock shares outstanding during 2018 was 890 shares. Net income...

  • Following is the balance sheet of Solomon Company for 2018: SOLOMON COMPANY Balance sheet Assets Cash...

    Following is the balance sheet of Solomon Company for 2018: SOLOMON COMPANY Balance sheet Assets Cash Marketable securities Accounts receivable Inventory Property and equipment Accumulated depreciation Total assets Liabilities and Stockholders' Equity Accounts payable Current notes payable Mortgage payable Bonds payable Common stock Retained earnings Total liabilities and stockholders' equity $ 14,750 7,620 13,160 10,750 165,500 (13,000) $198, 780 $ 8,390 3,240 4,200 21,300 113,300 48,350 $198,780 The average number of common stock shares outstanding during 2018 was 880 shares....

  • Following is the balance sheet of Solomon Company for 2018: SOLOMON COMPANY Balance sheet Assets Cash Marketable securi...

    Following is the balance sheet of Solomon Company for 2018: SOLOMON COMPANY Balance sheet Assets Cash Marketable securities Accounts receivable Inventory Property and equipment Accumulated depreciation Total assets Liabilities and Stockholders' Equity Accounts payable Current notes payable Mortgage payable Bonds payable Common stock Retained earnings Total liabilities and stockholders' equity $ 14,750 7,620 13,160 10,750 165,500 (13,000) $198, 780 $ 8,390 3,240 4,200 21,300 113,300 48,350 $198,780 The average number of common stock shares outstanding during 2018 was 880 shares....

  • Exercise 9-13 Ratio analysis LO 9-2, 9-3, 9-4, 9-5 Following is the balance sheet of Finch...

    Exercise 9-13 Ratio analysis LO 9-2, 9-3, 9-4, 9-5 Following is the balance sheet of Finch Company for 2018: FINCH COMPANY Balance sheet Assets Cash Marketable securities Accounts receivable Inventory Property and equipment Accumulated depreciation Total assets Liabilities and Stockholders' Equity Accounts payable Current notes payable Mortgage payable Bonds payable Common stock Retained earnings Total liabilities and stockholders' equity $ 14,500 8,140 12,500 11,350 168,000 (12,500) $ 201,999 $ 8,480 3,080 4,500 21,360 114,100 50,470 $ 201,990 The average number...

  • Following is the balance sheet of Jordan Company for Year 3: JORDAN COMPANY Balance sheet Assets...

    Following is the balance sheet of Jordan Company for Year 3: JORDAN COMPANY Balance sheet Assets Cash Marketable securities Accounts receivable Inventory Property and equipment Accumulated depreciation Total assets Liabilities and Stockholders' Equity Accounts payable Current notes payable Mortgage payable Bonds payable Common stock Retained earnings Total liabilities and stockholders' equity $ 15,100 7,980 12,740 10,750 170,500 (12.900) $ 204,170 $ 8,540 3,080 4,600 21,480 114,400 52,670 $204,170 The average number of common stock shares outstanding during Year 3 was...

  • Check my Following is the balance sheet of Franklin Company for 2018 FRANKLIN COMPANY lance sheet...

    i need part D and part F please and thanks Check my Following is the balance sheet of Franklin Company for 2018 FRANKLIN COMPANY lance sheet Assets Cash Marketable securities Accounts receivable Inventory Property and equipment Accumulated depreciation Total assets Liabilities and Stockholders' Equity Accounts payable Current notes payable Mortgage payable Bonds payable Common stock Retained earnings Total liabilities and stockholders' equity $ 14,858 8,188 13,228 10,7e0 168,e00 (12,680) $202,356e $ 8,930 3,520 4,350 21,420 114,20e 49,930 $202,35 The average...

  • The balance sheet for Vernon Corporation follows: Current assets $ 246,000 Long-term assets (net) 761,000 Total...

    The balance sheet for Vernon Corporation follows: Current assets $ 246,000 Long-term assets (net) 761,000 Total assets $ 1,007,000 Current liabilities $ 155,000 Long-term liabilities 457,000 Total liabilities 612,000 Common stock and retained earnings 395,000 Total liabilities and stockholders’ equity $ 1,007,000 Required Compute the following. (Round "Ratios" to 1 decimal place.) Working capital Current ratio Debt to assets ratio % Debt to equity ratio Following is the balance sheet of Adams Company for 2018: ADAMS COMPANY Balance sheet Assets...

ADVERTISEMENT
Free Homework Help App
Download From Google Play
Scan Your Homework
to Get Instant Free Answers
Need Online Homework Help?
Ask a Question
Get Answers For Free
Most questions answered within 3 hours.
ADVERTISEMENT
ADVERTISEMENT
ADVERTISEMENT