Comparative financial statement data of Ranfield, Inc. follow: Requirement 1a. Compute the current ratios for 2024...

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Comparative financial statement data of Ranfield, Inc. follow: Requirement 1a. Compute the current ratios for 2024 and 2023. Begin by selecting the formula to compute Current ratio = Now, compute the current ratios for 2024 Balance Sheet 2U24 ZUZJ ZUZZ - 1. Compute the following ratios for 2024 and 2023: 2. a. Current ratio b. Cash ratio c. Times-interest-earned ratio d. Inventory turnover e. Gross profit percentage f. Debt to equity ratio g. Rate of return on common stockholders' equity h. Earnings per share of common stock i. Price/earnings ratio Decide (a) whether Ranfield's ability to pay debts and to sell inventory improved or deteriorated during 2024 and (b) whether the investment attractiveness of its common stock appears to have increased or decreased. - Current ratio 2024 2023 Assets Current Assets: Income Statement Cash $ 91,000 $ 88,000 Requirement 1b. Compute the cash ratio Begin by selecting the formula to comput Cash ratio = Accounts Receivables, Net 107,000 120,000 $ 103,000 Merchandise Inventory 147,000 158,000 203,000 16,000 9,000 Prepaid Expenses Now, compute the cash ratios for 2024 ar Total Current Assets 361,000 375,000 Ranfield, Inc. Comparative Income Statement Years Ended December 31, 2024 and 2023 Property, Plant, and Equipment, Net 220,000 178,000 2024 2023 Cash ratio $ 581,000 $ 553,000 Net Sales Revenue 2024 2023 Requirement 1c. Compute the times-inte Begin by selecting the formula to comput Times-interest-earned ratio = Now, compute the times-interest-earned Total Assets $596,000 Liabilities Total Current Liabilities Long-term Liabilities Total Liabilities Cost of Goods Sold $ 467,000 $ 424,000 244,000 218,000 $ 225,000 $ 247,000 122,000 98,000 347,000 345,000 Gross Profit 223,000 206,000 138,000 136,000 Operating Expenses Income From Operations 85,000 70,000 10,000 Interest Expense 15,000 Stockholders' Equity Preferred Stock, 3% Common Stockholders' Equity, no par Income Before Income Tax 75,000 55,000 94,000 140,000 94,000 20,000 25,000 Income Tax Expense 114,000 87,000 $ 55,000 $ 30,000 Net Income $ 581,000 $ 553,000 Total Liabilities and Stockholders' Equity Comparative financial statement data of Ranfield, Inc. follow: Requirement 1a. Compute the current ratios for 2024 and 2023. Begin by selecting the formula to compute Current ratio = Now, compute the current ratios for 2024 Balance Sheet 2U24 ZUZJ ZUZZ - 1. Compute the following ratios for 2024 and 2023: 2. a. Current ratio b. Cash ratio c. Times-interest-earned ratio d. Inventory turnover e. Gross profit percentage f. Debt to equity ratio g. Rate of return on common stockholders' equity h. Earnings per share of common stock i. Price/earnings ratio Decide (a) whether Ranfield's ability to pay debts and to sell inventory improved or deteriorated during 2024 and (b) whether the investment attractiveness of its common stock appears to have increased or decreased. - Current ratio 2024 2023 Assets Current Assets: Income Statement Cash $ 91,000 $ 88,000 Requirement 1b. Compute the cash ratio Begin by selecting the formula to comput Cash ratio = Accounts Receivables, Net 107,000 120,000 $ 103,000 Merchandise Inventory 147,000 158,000 203,000 16,000 9,000 Prepaid Expenses Now, compute the cash ratios for 2024 ar Total Current Assets 361,000 375,000 Ranfield, Inc. Comparative Income Statement Years Ended December 31, 2024 and 2023 Property, Plant, and Equipment, Net 220,000 178,000 2024 2023 Cash ratio $ 581,000 $ 553,000 Net Sales Revenue 2024 2023 Requirement 1c. Compute the times-inte Begin by selecting the formula to comput Times-interest-earned ratio = Now, compute the times-interest-earned Total Assets $596,000 Liabilities Total Current Liabilities Long-term Liabilities Total Liabilities Cost of Goods Sold $ 467,000 $ 424,000 244,000 218,000 $ 225,000 $ 247,000 122,000 98,000 347,000 345,000 Gross Profit 223,000 206,000 138,000 136,000 Operating Expenses Income From Operations 85,000 70,000 10,000 Interest Expense 15,000 Stockholders' Equity Preferred Stock, 3% Common Stockholders' Equity, no par Income Before Income Tax 75,000 55,000 94,000 140,000 94,000 20,000 25,000 Income Tax Expense 114,000 87,000 $ 55,000 $ 30,000 Net Income $ 581,000 $ 553,000 Total Liabilities and Stockholders' Equity