The following is the balance sheet and income statement for Metro Eagle Outfitters, in condensed form, plus some information from the cash flow statement.
Balance Sheet | 2019 | 2018 | 2017 | ||||||||
Cash and short-term investments | $ | 645,992 | $ | 760,044 | $ | 749,693 | |||||
Accounts receivable | 47,821 | 41,810 | 39,721 | ||||||||
Inventory | 347,452 | 397,514 | 316,208 | ||||||||
Other current assets | 115,535 | 118,120 | 98,788 | ||||||||
Total current assets | 1,156,800 | 1,317,488 | 1,204,410 | ||||||||
Long-lived assets | 575,332 | 624,982 | 571,302 | ||||||||
Total assets | $ | 1,732,132 | $ | 1,942,470 | $ | 1,775,712 | |||||
Current liabilities | $ | 470,402 | $ | 450,401 | $ | 402,837 | |||||
Total liabilities | 509,445 | 522,286 | 421,641 | ||||||||
Shareholders’ equity | 1,222,687 | 1,420,184 | 1,354,071 | ||||||||
Total debt and equity | $ | 1,732,132 | $ | 1,942,470 | $ | 1,775,712 | |||||
Income Statement | |||||||||||
Sales | $ | 3,478,802 | $ | 3,121,565 | $ | 2,948,294 | |||||
Cost of sales | 2,100,480 | 1,990,471 | 1,778,143 | ||||||||
Gross margin | $ | 1,378,322 | $ | 1,131,094 | $ | 1,170,151 | |||||
Operating expenses | 974,784 | 854,385 | 851,276 | ||||||||
Earnings before interest and taxes | $ | 403,538 | $ | 276,709 | $ | 318,875 | |||||
Net income | $ | 247,108 | $ | 153,205 | $ | 142,147 | |||||
Interest paid in cash | 95 | 197 | 176 | ||||||||
Taxes paid in cash | 143,509 | 100,506 | 47,237 | ||||||||
Cash Flows | |||||||||||
Cash flow from operations | $ | 582,171 | $ | 495,817 | $ | 395,416 | |||||
Capital expenditures | 95,439 | 92,466 | 78,904 | ||||||||
Dividends | 87,092 | 87,092 | 84,666 | ||||||||
Required:
Calculate the following liquidity ratios for Metro Eagle in 2018 and 2019:
1. Inventory turnover
2. Current ratio.
3. Quick ratio
4. Cash flow ratio
Inventory Turnover | 2019 | 2018 | ||||||
Numerator | = | = | = | |||||
Denomentor | = | = | = | |||||
Current Ratio | 2019 | 2018 | ||||||
Numerator | = | = | = | |||||
Denominator | = | = | = | |||||
Quick Ratio | 2019 | 2018 | ||||||
Numerator | = | = | = | |||||
Denominator | = | = | = | |||||
Cash Flow Ratio | 2019 | 2018 | ||||||
Nominator | = | = | = | |||||
Denominator | = | = | = |
The following is the balance sheet and income statement for Metro Eagle Outfitters, in condensed form,...
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