Calculate the current ratio, quick ratio, and cash ratio for Tyler Toys for 2010 and 2011. Should
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Tyler Toys Inc. Income Statement for Years Ending December 31, 2010 and 2011 Revenue Cost of goods sold Selling, general, and 2011 $14,146,700 $8,449,100 2010 $13,566,400 8,131,300 administrative expenses Depreciation EBIT Interest expense Taxes Net income $999,320 $ 1,498,980 $ 3,199,300 S 375,000 1,093,300 $ 1,731,000 5 982,160 5 1,473,240 $ 2,979,700 S 356,100 $ 1,041,500 $ 1,582,100 Tyler Toys Inc. Balance Sheet as of December 31, 2010 and 2011 ASSETS 2011 2010 LIABILITIES 2011 2010 Current assets Current liabilities 191,00088,900 Accounts payable Cash Investments Accounts receivable Inventor S 1,545,700 1,455,100 311,500332,600 1,857,200 1,787,700 182.300 669 121,800 Short-term debt 400630,400Total current liabilities s 587,500 563,600 Long-term liabilities 1,630,2001,504,700 Debt S 8,658,400 7,934,400 S 1,462,100 1,345,100 $11,977,700 S11,067.200 Total current assets Long-term assets Other liabilities 3,052,000 2,8270 Total liabilities OWNERS' EQUITY Plant, property and equipment Goodwill Intangible assets 8,498,900 8,481,500 Common stock 349,000 348,700 Retained earnings 1,159,300956,700 Total owners' equity 5 1,457,9001,453,400 S 1,253,800 1,598,900 S 2,711,700 3,052,300 TOTAL LIABILITIES TOTAL ASSETS $14,689,400 $14,119,500 AND OWNERS EQUITY $14,689,400$14,119,500
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