Required: 1-8. Calculate the current ratio for Tech Supplies for its fiscal year ended February 1,...
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Required: 1-8. Calculate the current ratio for Tech Supplies for its fiscal year ended February 1, 2020. 1-b. Calculate the acid-test ratio for Tech Supplies for its fiscal year ended February 1, 2020. 1-c. Calculate the debt to equity ratio for Tech Supplies for its fiscal year ended February 1, 2020. 1-d. Calculate the times interest earned ratio for Tech Supplies for its fiscal year ended February 1, 2020. Note: For all requirements, round your answers to 2 decimal places. 1-a. Current ratio 1-b. Acid-test ratio 1-c. Debt to equity ratio 1-d. Times interest earned ratio 0.93 0.35 15.81 times Tech Supplies Company, Incorporated Income Statement For the Year Ended February 1, 2020 ($ in millions) Revenues Costs and expenses Operating income Other income (expense)* Income before income taxes Income tax expense Net income "Includes $242 of Interest expense. $ 39,618 38,171 1,447 (83) 1,364 773 $ 591 Required: 1-8. Calculate the current ratio for Tech Supplies for its fiscal year ended February 1, 2020. 1-b. Calculate the acid-test ratio for Tech Supplies for its fiscal year ended February 1, 2020. 1-c. Calculate the debt to equity ratio for Tech Supplies for its fiscal year ended February 1, 2020. 1-d. Calculate the times interest earned ratio for Tech Supplies for its fiscal year ended February 1, 2020. Note: For all requirements, round your answers to 2 decimal places. 1-a. Current ratio 1-b. Acid-test ratio 1-c. Debt to equity ratio 1-d. Times interest earned ratio 0.93 0.35 15.81 times Tech Supplies Company, Incorporated Income Statement For the Year Ended February 1, 2020 ($ in millions) Revenues Costs and expenses Operating income Other income (expense)* Income before income taxes Income tax expense Net income "Includes $242 of Interest expense. $ 39,618 38,171 1,447 (83) 1,364 773 $ 591
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1a Current ratio Current assets Current liabilities To calculate the current ratio we need to first determine the current assets and current liabiliti... View the full answer
Related Book For
Financial Accounting An Integrated Statements Approach
ISBN: 978-0324312119
2nd Edition
Authors: Jonathan E. Duchac, James M. Reeve, Carl S. Warren
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