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Dog Daze, Inc. has provided the following information from its most current financial statements: a. Compute the

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Dog Daze, Inc. has provided the following information from its most current financial statements:


Dog Daze, Inc. has provided the following information from its


a. Compute the company’s net income percentage in 2011.
b. Compute the company’s return on equity in 2011.
c. Compute the company’s current ratio at December 31,2011.

Transcribed Image Text:

Total revenue Total expenses Total current assets Total current liabilities Total stockholders' equity, January 1, 2011 Total stockholders' equity, December 31, 2011 $60,000 45,000 16,000 4,000 37,000 38,000

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a Net Income 15000 Total Revenue 60000 25 b Net Income 15000 Average Equity ...View the full answer


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Financial and Managerial Accounting the basis for business decisions

Financial and Managerial Accounting the basis for business decisions

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Related Video

The current ratio is a financial ratio that measures a company\'s ability to pay its short-term obligations with its short-term assets. It is calculated by dividing a company\'s current assets by its current liabilities. The formula for calculating the current ratio is: Current Ratio = Current Assets / Current Liabilities Current assets are assets that can be converted to cash within one year, while current liabilities are debts that are due within one year. A current ratio of 1:1 or greater is generally considered good, as it indicates that a company has enough current assets to cover its current liabilities. A current ratio of less than 1:1 may suggest that a company may have difficulty meeting its short-term obligations. It\'s important to note that the current ratio is just one of many financial ratios that can be used to assess a company\'s financial health. It should be used in conjunction with other financial ratios and qualitative factors to make informed decisions about investing or lending to a company.

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