Question

can someone help me with

G H I and O please

Financial statements for Fanning Company follow FANNING COMPANY Balance Sheets As of December 31 2019 2018 25.000 241,000 208.000 280,000 31,000 $584 000 26.000 $524 000 $ Current assets Cash Marketable securities Accounts receivable net) Inventories Prepaid items Total current assets Investments Plant (net) Land Total assets Liabilities and Stockholders' Equity Liabilities Current liable Notes payable Accounts payable Salaries payable Total current a s Noncurrenties Bonds payable Other Total noncurrent abilities Total liabilities Stockholders' equity Preferred stock. (par value $10,5% cumulative, non participating: 8,000 shares authorized and issued) Common stock (no par: 50,000 shares authorized: 10.000 shares issued) Retained earnings Total stockholders' equity Total liabilities and stockholders' equity $ 19,200 78.800 20.000 8,100 65.000 93,100 150.000 29.000 179.000 303 000 150.000 24 000 174 000 267,100 80.000 80.000 80,000 80 000 121000 21000 $584 000 256 900 $524.000 2018 $260,000 6.000 200.000 FANNING COMPANY Statements of income and Retained Earings For the Years Ended December 31 2019 Revenues Sales (net) $280.000 Other revenues 9,000 289.000 Total revenues Expenses Cost of goods sold 140,000 Selling, general, and administrative 60 000 Interest expense 9.500 Income tax expense 48.000 257.500 Total expenses Net earnings (net income) 31,500 Retained earnings, January 1 96.900 Less: Preferred stock dividends 4,000 Common stock dividends Retained earings, December 31 $121,000 118.000 55,000 8.700 47.000 228.700 37,300 67.000 4,000 3.400 $96.900 3.400 Required Calculate the following ratios for 2019 and 2018. Since 2017 numbers are not presented, do not use averages when calculating the ratios for 2018. Instead, use the number presented on the 2018 balance sheet a. Working capital. b. Current ratio. (Round your answers to 2 decimal places.) c. Quick ratio. (Round your answers to 2 decimal places.) d. Receivables turnover (beginning receivables at January 1, 2018, were $39,000). (Round your answers to 2 decimal places e. Average days to collect accounts receivable. (Round your intermediate calculations to 2 decimal places and your final

Answer 1

inventory turnover ratio	cost of goods sold / average inventory
	2019 ($)	2018 ($)
cost of good sold	140000	118000
opening inventory	139000	145000
closing inventory	131000	139000
average inventory	135000	142000
ratio	1.04	0.83
average days to sell inventory	365/inventory turnover ratio
	2019 ($)	2018 ($)
inventory turnover ratio	1.04	0.83
ratio	352 days	439 days
debt to assets ratio	total liabilities / total assets
	2019 ($)	2018 ($)
total liabilities	303000	267100
total assets	584000	524000
ratio	52%	51%
debt to equity ratio	total liabilities / total shareholders equity
	2019 ($)	2018 ($)
total liabilities	303000	267100
total shareholders equity	281000	256900
ratio	1.08	1.04
return on equity	net income / average shareholders equity
	2019 ($)	2018 ($)
net income	31500	37300
opening shareholders equity	256900	0
closing shareholders equity	281000	256900
average shareholders equity	537900	0
ratio	0.06	0.15