The Ashwood Company has a long-term debt ratio of 0.80 and a current ratio of 1.20....
The Ashwood Company has a long-term debt ratio of 0.80 and a current ratio of 1.20. Current liabilities are $960, sales are $5,135, profit margin is 9.40 percent, and ROE is 16.90 percent. What is the amount of the firm's net fixed assets?
Homework Answers
current ratio =Current assets/Current liabilities
Current assets=(1.2*960)=$1152
Profit margin=net income/sales
Hence net income=(5135*0.094)=$482.69
ROE=net income/equity
Hence equity=($482.69/0.169)=$2856.153846
Long-term debt ratio=Long-term debt/(Long-term debt+equity)
0.8=Long-term debt/(Long-term debt+2856.153846)
0.8Long-term debt+2284.923077=Long-term debt
Long-term debt=2284.923077/(1-0.8)
=$11424.61539
Total debt=Long-term debt+Current liabilities
=$11424.61539+$960
=$12384.61539
Total assets=Total debt+Total equity
Current assets+fixed assets=$12384.61539+$2856.153846
fixed assets=$12384.61539+$2856.153846-$1152
=$14088.77(Approx).
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