Income Statement For the Year Ended Dec. 31, 2021 Sales Cost of goods sold Gross profit...
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Income Statement For the Year Ended Dec. 31, 2021 Sales Cost of goods sold Gross profit Operating expenses Depreciation expense Operating income (EBIT) Interest expense Earnings before taxes Income tax expense Net income (earnings after tax) 570,000 300,000 270,000 180,000 $26,000 64,000 20,000 44,000 15,000 29,000 Cash Short-term investments Accounts receivable Inventory Prepaid expenses Buildings (net) Equipment (net) Total assets Accounts payable Wages payable Bonds payable Balance sheets Dec. 31, 2021 and 2020 Common stock Retained earnings Total liabilities & equity 2021 2020 14,000 12,000 38,000 40,000 26,000 20,000 59,000 59,000 16,000 10,000 600,000 620,000 96,000 109,000 849,000 870,000 39,000 19,000 2,000 4,000 350,000 410,000 200,000 200,000 258,000 237,000 849,000 870,000 The company paid a dividend in 2021 of $8,000 and $6,000 in 2020. All Required: B. Calculate the quick ratio at the end of 2021. D. Calculate average age of accounts receivable during 2021. E. Calculate the inventory turnover during 2021. F. Calculate the average age of accounts payable during 2021. G. Calculate the accounts receivable turnover during 2021. H. Calculate the pre-tax profit margin for 2021. 1. Calculate the cash conversion cycle, in days during 2021. J. Calculate the debt/equity ratio at the end of 2021. K. Calculate the debt ratio at the end of 2021. L. Calculate the times interest earned ratio for 2021. M. Calculate the dividend payout ratio for 2021. N. Calculate the gross profit margin for 2021. O. Calculate the operating profit margin for 2021. P. Calculate the net profit margin for 2021. Q. Calculate the return on assets (ROA) for 2021. R. Calculate the total asset turnover during 2021. S. Calculate the return on equity (ROE) for 2021. Income Statement For the Year Ended Dec. 31, 2021 Sales Cost of goods sold Gross profit Operating expenses Depreciation expense Operating income (EBIT) Interest expense Earnings before taxes Income tax expense Net income (earnings after tax) 570,000 300,000 270,000 180,000 $26,000 64,000 20,000 44,000 15,000 29,000 Cash Short-term investments Accounts receivable Inventory Prepaid expenses Buildings (net) Equipment (net) Total assets Accounts payable Wages payable Bonds payable Balance sheets Dec. 31, 2021 and 2020 Common stock Retained earnings Total liabilities & equity 2021 2020 14,000 12,000 38,000 40,000 26,000 20,000 59,000 59,000 16,000 10,000 600,000 620,000 96,000 109,000 849,000 870,000 39,000 19,000 2,000 4,000 350,000 410,000 200,000 200,000 258,000 237,000 849,000 870,000 The company paid a dividend in 2021 of $8,000 and $6,000 in 2020. All Required: B. Calculate the quick ratio at the end of 2021. D. Calculate average age of accounts receivable during 2021. E. Calculate the inventory turnover during 2021. F. Calculate the average age of accounts payable during 2021. G. Calculate the accounts receivable turnover during 2021. H. Calculate the pre-tax profit margin for 2021. 1. Calculate the cash conversion cycle, in days during 2021. J. Calculate the debt/equity ratio at the end of 2021. K. Calculate the debt ratio at the end of 2021. L. Calculate the times interest earned ratio for 2021. M. Calculate the dividend payout ratio for 2021. N. Calculate the gross profit margin for 2021. O. Calculate the operating profit margin for 2021. P. Calculate the net profit margin for 2021. Q. Calculate the return on assets (ROA) for 2021. R. Calculate the total asset turnover during 2021. S. Calculate the return on equity (ROE) for 2021.
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Question A Current ratio for 2021 Current AssetsCurrent Liabilities Current Assets Cash 14000 Short term investments 38000 Accounts Receivable 26000 I... View the full answer
Related Book For
Principles of Accounting
ISBN: 978-1133626985
12th edition
Authors: Belverd E. Needles, Marian Powers and Susan V. Crosson
Posted Date:
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