Compute the following ratios for 2017. (Weighted-average ordinary shares in 2017 were 60,000.) -Accounts receivable turnover. -Inventory
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Question:
Compute the following ratios for 2017. (Weighted-average ordinary shares in 2017 were 60,000.)
- -Accounts receivable turnover.
- -Inventory turnover.
- -Times interest earned.
- -Asset turnover.
- -Debt to assets ratio.
LARKER TOOL SA
Statements of Financial Position
December 31
Assets 2017 2016
- Plant assets (net) R$600,300 R$520,300
- Current assets
- Inventory R$110,950 R$115,500
- Accounts receivable (net) 105,750 102,800
- Short-term investments 69,000 50,000
- Cash 60,100 345,800 64,200 332,500
- Total assets R$946,100 R$852,800
- Equity and Liabilities 2017 2016
- Equity
Share capital—ordinary (R$5 par) R$300,000 R$300,000 - Retained earnings 242,600 165,000
- Total equity 542,600 465,400
- Bonds payable 200,000 200,000
- Current liabilities
- Accounts payable 160,000 145,400
- Income taxes payable 43,500 42,000
- Total current liabilities 203,500 187,400
- Total liabilities 403,500 387,400
- Total equity and liabilities R$946,100 R$852,800
All sales were on account.
Related Book For
Fundamentals of Financial Accounting
ISBN: 978-0078025372
4th edition
Authors: Fred Phillips, Robert Libby, Patricia Libby
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