Homework Answers
a) Current Ratio = Current Assets/Current Liabilities
= Current Assets= Accounts Receivable+ Cash
=84,500+147,200= 231,700
Current Liabilities = Accounts Payable+ Salaries Payable+ Other Current Liabilities
=52,000+19,600+22,500
=94,100
Current Ratio = 231,700/94,100
=2.46
b) Profit Margin= Net Income/Sales
=174,000/590,000
=29.49%
c)Basic Earnings Per Share = Net income/Weighted Average Number of Common Shares
=174,000/4000
=43.50
d)Debt to total Assets = Debt/Total Assets
Debt= Total Assets- Current Liabilites- Shareholders Equity
=500,000-94,100-310,900
=95,000
Debt to total Assets =95,000/500,000
=19%
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