The balance sheet and income statement for the J P
The balance sheet and income statement for the J. P. Robard Mfg. Company are as follows:
BALANCE SHEET. $ 000.
Cash................ $ 500
Accounts receivable........... 2,000
Inventories............... 1,000
Current assets............. $ 3,500
Net fixed assets.............. 4,500
Total assets................ $ 8,000
Accounts payable............. $ 1,100
Accrued expenses............. 600
Short- term notes payable.......... 300
Current liabilities............ $ 2,000
Long- term debt ............. 2,000
Owners’ equity.............. 4,000
Total liabilities and owners’ equity...... $ 8,000
Calculate the following ratios: Current ratio Operating return on assets Times interest earned Debt ratio Inventory turnover Average collection period Total asset turnover Fixed- asset turnover Operating profit margin Return on equity
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