# Refer to the financial statements for Gilsig Inc. in Problem 12-77A.In problem Gilsig Inc. owns and operates a small chain of sportswear stores located near colleges and universities. Gilsig has experienced significant growth in recent years. The following data are available for Gilsig: Required:1. Compute the asset efficiency ratios (rounded to two decimal places) for Gilsig for 2011 and 2010

Refer to the financial statements for Gilsig Inc. in Problem 12-77A.

In problem Gilsig Inc. owns and operates a small chain of sportswear stores located near colleges and universities. Gilsig has experienced significant growth in recent years. The following data are available for Gilsig:

Financial statements are the standardized formats to present the financial information related to a business or an organization for its users. Financial statements contain the historical information as well as current period’s financial...

In problem Gilsig Inc. owns and operates a small chain of sportswear stores located near colleges and universities. Gilsig has experienced significant growth in recent years. The following data are available for Gilsig:

Required:

1. Compute the asset efficiency ratios (rounded to two decimal places) for Gilsig for 2011 and 2010 (in percentage terms, rounded to two decimal places). Indicate whether efficiency has changed.

2. Compute the profitability ratios (rounded to two decimal places) for Gilsig for 2011 and 2010. Determine by how much Gilsig€™s profitability ratios have changed (in percentage terms, rounded to two decimal places) for the two-year period.

3. Compute the debt management ratios (in percentage terms, rounded to two decimal places) for Gilsig for 2010 and 2011. Discuss whether creditors are as secure in 2011 as they were in 2010.

Financial statements are the standardized formats to present the financial information related to a business or an organization for its users. Financial statements contain the historical information as well as current period’s financial...

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**Related Book For**

## Cornerstones of Financial and Managerial Accounting

2nd edition

Authors: Rich, Jeff Jones, Dan Heitger, Maryanne Mowen, Don Hansen

ISBN: 978-1111879044