Homework Answers
Answer:
Current Ratio = Current Assets / Current Liabilities
20X4 = 47500 / 48000 = 0.989
20X5 = 45500 / 46000 = 0.989
Acid Test Ratio = Quick Assets / Current Liabilities
20X4 = (36500 + 3400 ) / 48000 = 0.831
20X5 = (34000 + 4000 ) / 46000 = 0.826
Debt Equity Ratio = Total Liabilities / Total Equity
20X4 = (48000 + 940000 ) / (150000 + 15000 + 115500 ) = 988000 / 280500 = 3.52
20X5 = (46000 + 934000 ) / ( 150000 + 15000 + 131500 ) = 980000 / 296500 = 3.31
Food Inventory Turnover 20X5 = Cost of goods sold / Avg. Inventory = 500000 / ( 5000 + 5500 ) / 2 = 500000 / 5250 = 95.24
Accounts Receivable Turnover 20X5 = Net Sales / Avg.Accounts Receivable
= 1790000 / ( 3400 + 4000 ) / 2 = 1790000 / 3700 = 483.78
Avg. Collection Period 20X5 = 365 / Accounts Receivable Turnover = 365 / 483.78 = 0.7544 Days
Long Term Debt to Total Capitalization = Long Term Debt / Total Capital
20X4 = 940000 / ( 940000 + 150000 + 115500 + 15000) = 940000 / 1220500 = 0.77
20X5 = 934000 / ( 934000 + 150000 + 15000 + 131500 ) = 934000 / 1230500 = 0.759
Asset Turnover 20X5 = Net Sales / Avg. Total Assets = 1790000 / ( 1268500 + 1276500 ) / 2
= 1790000 / 1272500 = 1.41
Return on Assets = Net Income / Avg. Total Assets = 186000 / ( 1268500 + 1276500 ) / 2 = 186000 / 1272500 = 14.62%
Return on Owner's Equity = Net Income / Avg. Total Equity = 186000 / ( 280500 + 296500 ) / 2 = 186000 / 288500 = 64.47%
Times Interest earned 20X5 = EBIT / Interest Expense = (422000 - 20000-10000-5000-20000) / 80000
= 367000 / 80000 = 4.59
Fixed Charge Coverage Ratio 20X5 = EBIT + Fixed charges before Taxes / Fixed charges before Taxes + Interest
= (367000 + 55000 ) / (55000 + 80000) = 422000 / 135000 = 3.13
Profit Margin for 20X5 = Net Income / Net Sales = 186000 / 1790000 = 10.39%
Earning per share = Net Income / Outstanding shares = 186000 / 25000 = $7.44
Average Food service 20X5 = Net Sales / No. of meals = 1790000 / 164000 = 10.91
Food Cost percentage = cost of food sold / Net sales = 500000 / 1790000 = 27.93%
Labour cost percentage 20X5 = (600000 + 80000 ) / 1790000 = 37.99%
Operating Cash flow to Current Liabilities = 203500 / 46000 = 4.42
Operating Cash flow to Total Liabilities = 203500 / ( 46000 + 934000 ) = 203500 / 980000 = 20.77%
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