The financial statements of Green Corporation appear below: Green Corporation Comparative Balance Sheets December 31, 2018...
The financial statements of Green Corporation appear below:
Green Corporation
Comparative Balance Sheets
December 31, 2018 - 19
——————————————————————————————————
Assets 2019 2018
Cash $150,000 $ 300,000
Short-term investments 150,000 450,000
Accounts receivable (net) 300,000 225,000
Inventory 450,000 525,000
Property, plant and equipment (net) 1,950,000 2,250,000
Total assets $3,000,000 $3,750,000
Liabilities and stockholders' equity
Accounts payable $150,000 $ 225,000
Short-term notes payable 300,000 675,000
Bonds payable 600,000 1,200,000
Common stock 1,125,000 1,125,000
Retained earnings 825,000 525,000
Total liabilities and stockholders' equity $3,000,000 $3,750,000
Green Corporation
Income Statement
For the Year Ended December 31, 2019
Net sales $3,000,000
Cost of goods sold 1,875,000
Gross profit 1,125,000
Expenses
Operating expenses $315,000
Interest expense 135,000
Total expenses 450,000
Income before income taxes 675,000
Income tax expense 202,500
Net income $ 472,500
.
Required:
(a) Using the financial statements, compute the following ratios for Green Corporation for 2019. Show all computations.
1. Current ratio.
2. Acid-test ratio.
3. Accounts receivable turnover.
4. Inventory turnover.
5. Profit margin.
6. Return on assets.
7. Assets turnover.
8. Times interest earned.
9. Working capital.
10. Debt to assets ratio.
.
(b) Based on the ratios calculated in (a), discuss briefly the improvement or lack thereof in financial position and operating results from 2018 to 2019 of Green Corporation.
Homework Answers
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The financial statements of Green Corporation appear below:
Green Corporation
Comparative Balance Sheets
December 31, 2018...
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Required: a. Using the financial statements, compute the following ratios for Flowers Co. for 2019. Show...
Required:
a. Using the financial statements, compute the following ratios
for Flowers Co. for 2019. Show all computations.
(4
marks)
1. Current
ratio.
2. Acid-test ratio.
3. Accounts receivable
turnover.
4. Inventory turnover.
5. Profit
margin.
6. Return on assets.
7. Assets
turnover.
8. Times interest earned.
9. Working capital.
10. Debt to assets ratio.
The financial statements of Flowers Co. appear below: Flowers Co. Comparative Balance Sheets December 31, 2018 - 2019 Assets Caela Short-term investments Accounts receivable...
Question: The financial statements of XYZ Company appear below: XYZ COMPANY Comparative Balance Sheet December 31,...
Question: The financial statements of XYZ Company appear below: XYZ COMPANY Comparative Balance Sheet December 31, Assets Cash .........+4000... Short-term investments. Accounts receivable (net)...-9000 Inventory Property, plant and equipment (net) ........ Total assets ...... 2018 $ 35,000 15,000 50,000 50,000 250.000 $400.000 2017 $ 40,000 60,000 30,000 70,000 300.000 $500.000 Liabilities and stockholders' equity Accounts payable......... $ 10,000 Short-term notes payable ................. 40,000 Bonds payable ...... 88,000 Common stock ............ .....2.1.X 160,000 Retained earnings.- 960.0. 102.000 Total liabilities and stockholders'...
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Required:
a. Using the financial statements, compute the following ratios
for Flowers Co. for 2019. Show all computations.
(4
marks)
1. Current
ratio.
2. Acid-test ratio.
3. Accounts receivable
turnover.
4. Inventory turnover.
5. Profit
margin.
6. Return on assets.
7. Assets
turnover.
8. Times interest earned.
9. Working capital.
10. Debt to assets ratio.
The financial statements of Flowers Co. appear below: Flowers Co. Comparative Balance Sheets December 31, 2018 - 2019 Assets Caela Short-term investments Accounts receivable...
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