Calculate the financial ratios from the following information: 1) current ratio 2)quick ratio 3) cash ratio BALANCE
Question:
Calculate the financial ratios from the following information:
1) current ratio
2)quick ratio
3) cash ratio
BALANCE SHEET
20162017 2016 2017
ASSETSLIABILITIES
Current AssetsCurrent Liabilities
Cash3,2913,507Accts Pay2,1332,560
Accts Rec4,7875,821Notes Pay1,7302,076
Inventory12,39813,822Other86103
TOTAL20,47623,150TOTAL3,9494,739
Long Term Debt13,80016,560
Fixed Assets
Net Plant and Equip48,90772,969OWNER'S EQUITY
Common Stock and
Paid in Surplus36,00036,000
Accum Retain Earn15,63438,820
TOTAL51,63474,820
TOAL LIABILITIES and
Owners Equity69,38396,119
INCOME STATEMENT
2017
Sales186,570
Cost of Goods Sold125,803
Depreciation5,373
EBIT55,394
Interest Paid1,470
Taxable Income53,924
Taxes18,873
Net Income35,051
Dividends11,865
Retained Earnings23,186
Horngrens Financial and Managerial Accounting
ISBN: 978-0133866292
5th edition
Authors: Tracie L. Nobles, Brenda L. Mattison, Ella Mae Matsumura