Multiple Choice Question 171 The following information pertains to Swifty Corporation. Assume that all balance sheet amounts represent both average and ending balance figures. Assume that all sales were on credit. Assets Cash and short-term investments $ 61200 Accounts receivable (net) 43000 Inventory 47000 Property, plant and equipment 213000 Total Assets $364200 Liabilities and Stockholders’ Equity Current liabilities $ 30000 Long-term liabilities 71000 Stockholders’ equity—common 263200 Total Liabilities and Stockholders’ Equity $364200 Income Statement Sales revenue $82000 Cost of goods sold 54000 Gross profit 28000 Operating expenses 30000 Net income $ -2000 Number of shares of common stock 5000 Market price of common stock $24 Dividends per share on common stock 9.2 Cash provided by operations $40000 What is the current ratio for this company? 4.42 4.22 4.78 5.04
Multiple Choice Question 171 The following information pertains to Swifty Corporation. Assume that all balance sheet...
The following information pertains to Swifty Corporation. Assume that all balance sheet amounts represent both average and ending balance figures. Assume that all sales were on credit. Assets Cash and short-term investments $ 50300 Accounts receivable (net) 39200 Inventory 23200 Property, plant and equipment 226000 Total Assets $338700 Liabilities and Stockholders’ Equity Current liabilities $ 60000 Long-term liabilities 95000 Stockholders’ equity—common 183700 Total Liabilities and Stockholders’ Equity $338700 Income Statement Sales revenue $97000 Cost of goods sold 71800 Gross profit 25200 Operating...
Multiple Choice Question 174 The following information pertains to Pina Colada Corp. Assume that all balance sheet amounts represent both average and ending balance figures. Assume that all sales were on credit. Assets Cash and short-term investments $ 48000 Accounts receivable (net) 50000 Inventory 37000 Property, plant and equipment 215000 Total Assets $350000 Liabilities and Stockholders’ Equity Current liabilities $ 70000 Long-term liabilities 80000 Stockholders’ equity—common 200000 Total Liabilities and Stockholders’ Equity $350000 Income Statement Sales revenue $83000 Cost of...
The following information pertains to Unique Company. Assume that all balance sheet ent both average and ending balance figures. Assume that all sales were on amounts repres credit. Assets Cash and short-term investments S 40,000 25,000 Accounts receivable (net) 20,000 Inventory Property, plant and equipment Total Assets Liabilities and Stockholders Equity Current liabilities 60,000 85,000 Long-term liabilities Stockholders' equity-common Total Liabilities and Stockholders Equity $295.000 Income Statement S 85,000 45.000 Sales revenue Cost of goods sold 40,000 Gross margin Operating...
The following information pertains to Jones Company. Assume that all balance sheet amounts represent both average and ending balance figures. Assume that all sales were on credit. Assets Cash and short-term investments 80,000 Accounts receivable (net) 30,000 Inventory 26,000 Property, plant, and equipment 300,000 Total assets 436,000 Liability and Stockholders’ Equity Current liabilities 81,000 Long-term liabilities 100,000 Stockholders’ equity – common 255,000 Total Liabilities and Stockholders’ Equity 436,000 Income Statement Sales 230,000 Cost of goods...
The following information pertains to Jones Company. Assume that all balance sheet amounts represent both average and ending balance figures. Assume that all sales were on credit. Assets Cash and short-term investments 50,000 Accounts receivable (net) 50,000 Inventory 23,000 Property, plant, and equipment 308,000 Total assets 431,000 Liability and Stockholders’ Equity Current liabilities 75,000 Long-term liabilities 120,000 Stockholders’ equity – common 236,000 Total Liabilities and Stockholders’ Equity 431,000 Income Statement Sales 265,000 Cost of goods sold 89,000 Gross profit 176,000 Operating Expenses 80,000 Net...
The following information pertains to Vaughn Manufacturing. Assume that all balance sheet amounts represent both average and ending balance figures. Assume that all sales were on credit. Assets Cash and short-term investments $ 47500 Accounts receivable (net) 35600 Inventory 27900 Property, plant and equipment 210000 Total Assets $321000 Liabilities and Stockholders’ Equity Current liabilities $ 52900 Long-term liabilities 80300 Stockholders’ equity—common 187800 Total Liabilities and Stockholders’ Equity $321000 Income Statement Sales revenue $128160 Cost of goods sold 60520 Gross margin 67640 Operating...
The following information pertains to Blue Spruce Corp.. Assume that all balance sheet amounts represent both average and ending balance figures. Assume that all sales were on credit. Assets Cash and short-term investments $ 41000 Accounts receivable (net) 37000 Inventory 36000 Property, plant and equipment 244000 Total Assets $358000 Liabilities and Stockholders’ Equity Current liabilities $ 68000 Long-term liabilities 84000 Stockholders’ equity—common 206000 Total Liabilities and Stockholders’ Equity $$358000 Income Statement Sales revenue $83000 Cost of goods sold 44000 Gross...
The following information pertains to Jones Company. Assume that all balance sheet amounts represent both average and ending balance figures. Assume that all sales were on credit. Assets Cash and short-term investments 50,000 Accounts receivable (net) 50,000 Inventory 23,000 Property, plant, and equipment 308,000 Total assets 431,000 Liability and Stockholders’ Equity Current liabilities 75,000 Long-term liabilities 120,000 Stockholders’ equity – common 236,000 Total Liabilities and Stockholders’ Equity 431,000 Income Statement Sales 265,000 Cost of goods sold 89,000 Gross profit 176,000 Operating Expenses 80,000 Net Income ...
The following information pertains to Jones Company. Assume that all balance sheet amounts represent both average and ending balance figures. Assume that all sales were on credit. Assets Cash and short-term investments 50,000 Accounts receivable (net) 50,000 Inventory 23,000 Property, plant, and equipment 308,000 Total assets 431,000 Liability and Stockholders’ Equity Current liabilities 75,000 Long-term liabilities 120,000 Stockholders’ equity – common 236,000 Total Liabilities and Stockholders’ Equity 431,000 Income Statement Sales 265,000 Cost of goods sold 89,000 Gross profit 176,000 Operating Expenses 80,000 Net Income ...
The following information pertains to Jones Company. Assume that all balance sheet amounts represent both average and ending balance figures. Assume that all sales were on credit. Assets Cash and short-term investments 50,000 Accounts receivable (net) 50,000 Inventory 23,000 Property, plant, and equipment 308,000 Total assets 431,000 Liability and Stockholders’ Equity Current liabilities 75,000 Long-term liabilities 120,000 Stockholders’ equity – common 236,000 Total Liabilities and Stockholders’ Equity 431,000 Income Statement Sales 265,000 Cost of goods sold 89,000 Gross profit 176,000 Operating Expenses 80,000 Net Income ...