Uptown Sporting Goods reported the following data at July 31, 2014, with amounts adapted in thousands: 1.
Question:
Uptown Sporting Goods reported the following data at July 31, 2014, with amounts adapted in thousands:
1. Compute Uptown’s net working capital.
2. Compute Uptown’s current ratio. Round to two decimal places.
3. Compute Uptown’s debt ratio. Round to two decimal places.
Do these values and ratios look strong, weak, ormiddle-of-the-road?
Transcribed Image Text:
A1 Uptown Sporting Goods Company Income Statement Year ended July 31, 2014 (Amounts in thousands) Net revenues Cost of goods sold $180,500 136,000 5 Ail other expenses 29,600 Net income A1 Uptown Sporting Goods Company Statement of Retained Earnings Year ended July 31, 2014 (Amounts in thousands) $36,500 14,900 51400 3 Retained earnings, July 31,2013 Add: Net income S Retained earnings, July 31, 2014 A1 Uptown Sporting Goods Company Balance Sheet July 31, 2014 (Amounts in thousands) Assets Current: 26,700 28,000 35,000 5,000 94,700 19,800 22,000 Cash Accounts receivable Other current assets 10 Property and equipment, net 7 Inventories Total current assets Other assets 2 Total assets 13 Liablilitles 15 Long-term liabilities 1 Stockholders' Equity 19 Retained earnings 2 Total liabilities and stockholders equity Total current lablities Total liabilities Common stock Total stockholders' equity $ S5,100 7500 62,600 22,500
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 66% (15 reviews)
Dollars in thousands Req 1 Net working capital Total current assets Total ...View the full answer
Answered By
Emel Khan
I have the ability to effectively communicate and demonstrate concepts to students. Through my practical application of the subject required, I am able to provide real-world examples and clarify complex ideas. This helps students to better understand and retain the information, leading to improved performance and confidence in their abilities. Additionally, my hands-on approach allows for interactive lessons and personalized instruction, catering to the individual needs and learning styles of each student.
5.00+
2+ Reviews
10+ Question Solved
Related Book For
Financial Accounting
ISBN: 978-0133427530
10th edition
Authors: Walter Harrison, Charles Horngren, William Thomas
Question Posted:
Students also viewed these Accounting questions
-
Tree City Sporting Goods reported the following data at July 31, 2016, with amounts adapted in thousands: 1. Compute Tree City's net working capital. 2. Compute Tree City's current ratio. Round to...
-
Robin Sporting Goods reported the following data at July 31, 2018, with amounts in thousands: 1. Calculate Robins net working capital. 2. Calculate Robins current ratio. Round to two decimal places....
-
Vulture Sporting Goods reported the following data at March 31, 2010, with amounts adapted in thousands: Vulture Sporting Goods Company Income Statement For the Year Ended March 31, 2010 (Amounts in...
-
Which of the following bacterial diseases can be cured using antibiotics? Option: 1) Malaria 2) Typhoid 3) AIDS 4) Dengue
-
If you select an individual stock from this population, what is the probability that it would have a return. a. Less than 0 (i.e., a loss)? b. Between -10 and -20? c. Greater than -5? If you selected...
-
Calculate the Internal Rate of Return (IRR) for the following projects and complete the 4. table below. (10 marks) Project Cost Benefit IRR (%) A -$1000 in Year 0 $1,400 in year 10 B -$800 in Year 0...
-
Why is the current best price to charge for the unsold trees the one at which the price elasticity of demand equals 1? (Assume no disposal costs.)
-
At the end of first three months of operation, the trial balance of City Answering Service appears as shown below. Tim Bass, the owner of City Answering Service, has hired an accountant to prepare...
-
Calculate the cost of food sales under a perpetual inventory system for the month ended March 31 given the following information: Inventory on March 31 was $2,900 Storeroom purchases for the month...
-
Provide an example, with rationale, of an area in your personal life where you would like to apply time value of money concepts. What can you do to create a more financially sound future for yourself?
-
Use the Uptown Sporting Goods Company data in Short Exercise 3-15 to make the companys closing entries at July 31, 2014. Ten set up a T-account for Retained Earnings and post to that account. Compare...
-
Refer to the Uptown Sporting Goods Company data in Short Exercise 3-17. In Short Exercise 3-17. Uptown Sporting Goods reported the following data at July 31, 2014, with amounts adapted in thousands:...
-
In planning your next vacation, you have narrowed your choices down to two packages offered by your travel agent, a week in Hawaii for $1200 or a week in Cancun for $900. You are indifferent between...
-
For safety reason some of the fastest tractors called top fuel dragsters do not race for more than 3 0 0 to 4 0 0 m consider such a dragster that when the light turns green accelerates uniformly from...
-
Water is exposed to infrared radiation with a wavelength of 2 . 5 times 1 0 4 cm . Assume that all the radiation is absorbed and converted to heat. How many photons are required for the sample to...
-
The boiling point of a solution containing 5 . 5 3 g of a nonvolatile hydrocarbon in 1 0 2 . 2 g of acetone is 5 6 . 2 0 deg C . What is the molecular weight of the hydrocarbon? For acetone, Tb = 5 5...
-
Let f"" (t) = 9t-3t. (a) Find the most general formula for f" (1). If an arbitrary constant must be used here, use an upper-case "C". f"(t) = 9t^2/2-2t^(3/2)+C (b) Based on your answer to (a), find...
-
4. Photosynthesis in plants leads to the general overall reaction for producing glucose (C6H1206): 6CO2 + 6HO C6H1206 +602 How many moles of glucose can be made from the reaction of 544 g of CO?
-
Assume the same facts as in Problem 31, except that both states employ a three-factor formula, under which sales are double-weighted. The property factor in A is computed using historical cost, while...
-
Refer to the data in QS 10-1. Based on financial considerations alone, should Helix accept this order at the special price? Explain.
-
Can you identify and or manage a cooperative? Go to www.coops.wisc.edu and play the Find the Co-op and Youre the Boss! games. Write a brief summary of what you learned while playing both games
-
McDonough Copy Center sells laser printers and supplies. Assume McDonough Copy Center started the year with 100 containers of ink (average cost of $8.00 each, FIFO cost of $8.60 each, LIFO cost of...
-
Refer to the data in E6-39B. Compute all ratio values to answer the following questions: Which company has the highest and which company has the lowest gross profit percentage? Which company has...
-
Thurston & Talty, a partnership, had the following inventory data: Thurston & Talty need to know the company's gross profit percentage and rate of inventory turnover for 2016 under 1. FIFO. 2. LIFO....
-
(5 pts) Q4. What is displayed by the program fragment below? #include int main() { int a 3, b = 9; int *pa, *pb, *pc; pa = &a; pb = &pb; pc = pa; pa = pb; pb = pc; printf("%4d 4d 4d 4d %4d ", a, b,...
-
Using the Kosaraju's algorithm, find the strong components of the following directed graph. Please show your work.
-
Imagine your client would like to complete a tax inversion, acquiring a foreign company in Switzerland and moving the domicile of the combined company overseas. Your client believes that this will...
Study smarter with the SolutionInn App