Vulture Sporting Goods reported the following data at March 31, 2010, with amounts adapted in thousands: Vulture
Question:
Vulture Sporting Goods Company
Income Statement
For the Year Ended March 31, 2010
(Amounts in thousands)
Net revenues........................ $174,000
Cost of goods sold................ 136,800
All other expenses................ 26,000
Net income........................... $ 11,200
Vulture Sporting Goods Company
Statement of Retained Earnings
For the Year Ended March 31, 2010
(Amounts in thousands)
Retained earnings, March 31, 2009............... $ 2,000
Add: Net income............................................ 11,200
Retained earnings, March 31, 2010............... $13,200
1. Compute Vultures current ratio. Round to two decimal places.
2. Compute Vultures debt ratio. Round to two decimal places.
Do these ratio values look strong, weak, ormiddle-of-the-road?
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Related Book For
Financial accounting
ISBN: 978-0136108863
8th Edition
Authors: Walter T. Harrison, Charles T. Horngren, William Bill Thomas
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