Below are the financial statements of Ross Corporation. REQUIRED: Calculate 2022 ratios required below. Provide answers...

  
 

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Below are the financial statements of Ross Corporation. REQUIRED: Calculate 2022 ratios required below. Provide answers to 2 decimal places. Hint: If a ratio is a percentage such as 10.25%, please enter the answer as 10.25. Do not enter 0.10 as your answer. Assets Cash Accounts Receivable Inventory Office Supplies Prepaid Insurance Plant, Property, and Equipment Accumulated Depreciation Patent Total Assets Liabilities and Shareholders' Equity Accounts Payable Income Tax Payable Interest Payable Salaries Payable Notes Payable, Due Dec. 31, 2025 Total Liabilities Common Shares, (30,000 shares issued) Retained Earnings $ $ 2022 131,560 $ 110,040 217,300 1,760 2,340 I 578,000 (187,360) 25,860 879,500 $ 200,500 $ 7,500 3,000 9,500 157,000 377,500 445,000 57,000 2021 152,750 146,200 258,200 2,310 5,200 624,100 (195,760) 25,860 1,018,860 233,805 8,200 3,640 11,200 157,000 413,845 445,000 160.015 Prepaid Insurance Plant, Property, and Equipment Accumulated Depreciation Patent Total Assets Liabilities and Shareholders' Equity Accounts Payable Income Tax Payable Interest Payable Salaries Payable Notes Payable, Due Dec. 31, 2025 Total Liabilities 2,340 578,000 (187,360) 25,860 $ 879,500 $ $ 200,500 $ 7,500 3,000 9,500 Common Shares, (30,000 shares issued) Retained Earnings Total Liabilities and Shareholders' Equity $ 157,000 377,500 445,000 57,000 879,500 $ 5,200 624,100 (195,760) 25,860 1,018,860 233,805 8,200 3,640 11,200 157.000 413,845 445,000 160,015 1,018,860 Additional information regarding 2022: Total cash provided by operating activities was $101,020. Total net income was $37,520. Total gross profit was $204,200. All sales of $500,000 were on credit. $20,000 of sales returns occurred. The cost of goods sold was $275,800. 1. 2. 3. 4. 5. Interest expense was $11,560. 6. Income tax expense was $12,000. 7. Total cash dividends declared and paid were $20,000. 8. Share issued and outstanding were the same throughout the year. Current Ratio Debt to Total Assets Gross Profit Margin Earnings Per Share (EPS) Inventory Turnover Receivables Turnover I Asset Turnover Times Interest Earned Return on Common Shareholders' Equity Payout Ratio N A/ P P A A A N A Below are the financial statements of Ross Corporation. REQUIRED: Calculate 2022 ratios required below. Provide answers to 2 decimal places. Hint: If a ratio is a percentage such as 10.25%, please enter the answer as 10.25. Do not enter 0.10 as your answer. Assets Cash Accounts Receivable Inventory Office Supplies Prepaid Insurance Plant, Property, and Equipment Accumulated Depreciation Patent Total Assets Liabilities and Shareholders' Equity Accounts Payable Income Tax Payable Interest Payable Salaries Payable Notes Payable, Due Dec. 31, 2025 Total Liabilities Common Shares, (30,000 shares issued) Retained Earnings $ $ 2022 131,560 $ 110,040 217,300 1,760 2,340 I 578,000 (187,360) 25,860 879,500 $ 200,500 $ 7,500 3,000 9,500 157,000 377,500 445,000 57,000 2021 152,750 146,200 258,200 2,310 5,200 624,100 (195,760) 25,860 1,018,860 233,805 8,200 3,640 11,200 157,000 413,845 445,000 160.015 Prepaid Insurance Plant, Property, and Equipment Accumulated Depreciation Patent Total Assets Liabilities and Shareholders' Equity Accounts Payable Income Tax Payable Interest Payable Salaries Payable Notes Payable, Due Dec. 31, 2025 Total Liabilities 2,340 578,000 (187,360) 25,860 $ 879,500 $ $ 200,500 $ 7,500 3,000 9,500 Common Shares, (30,000 shares issued) Retained Earnings Total Liabilities and Shareholders' Equity $ 157,000 377,500 445,000 57,000 879,500 $ 5,200 624,100 (195,760) 25,860 1,018,860 233,805 8,200 3,640 11,200 157.000 413,845 445,000 160,015 1,018,860 Additional information regarding 2022: Total cash provided by operating activities was $101,020. Total net income was $37,520. Total gross profit was $204,200. All sales of $500,000 were on credit. $20,000 of sales returns occurred. The cost of goods sold was $275,800. 1. 2. 3. 4. 5. Interest expense was $11,560. 6. Income tax expense was $12,000. 7. Total cash dividends declared and paid were $20,000. 8. Share issued and outstanding were the same throughout the year. Current Ratio Debt to Total Assets Gross Profit Margin Earnings Per Share (EPS) Inventory Turnover Receivables Turnover I Asset Turnover Times Interest Earned Return on Common Shareholders' Equity Payout Ratio N A/ P P A A A N A

Answer rating: 100% (QA)

Calculation of various ratios of 2022 1 Calculation Current Assets we Current Rate Cussent ratio we ... View the full answer