B. C D E G Q9: Exam Company reported the following financial statement data: Exam Company Balance Sheet 3 As for December 31 9 Current Year Last Year O Cash $50,830 $55,010 1 Accounts Receivable, Net 80,420 86,500 2 Merchandise Inventory 101.050 120,690 3 Total Current Assets 232,300 54 Long Term Investments 76,400 65 Plant Assets, Net 204,200 56 TOTAL ASSETS $512,900 262,200 72,060 246,200 $580,460 $60,300 11.960 $58,100 13,600 72,260 43,000 115,260 71,700 98,600 170,300 58 Accounts Payable 59 Salaries Payable 60 Total Current Liabilities 61 Long Term Liabilities 62 Total Liabilities 63 164 Paid in Capital 165 Retained Earnings 666 Total Equity 167 TOTAL LIABILITIES AND EQUITY 168 160 Settings 299,780 97,860 349,860 60,300 397,640 $512,900 410,160 $580,460 Exam Select destination and press ENTER or choose Paste FOGG Le 0 0 Elipboard Insert Font Formatting Table Styles Alignment Number 162 Styles F G H B C D 52 Total Liabilities E 115,260 170,300 53 64 Paid in Capital 299,780 349,860 65 Retained Earnings 97,860 60,300 166 Total Equity 397,640 410,160 167 TOTAL LIABILITIES AND EQUITY $512,900 $580,460 168 169 170 Exam Company 171 Income Statement 172 For Year Ending December 31 173 Sales Revenue $300,000 174 Cost of Goods Sold 195.000 175 Gross Profit 105,000 176 Selling expenses 40,200 177 Admin expenses 50.330 178 Total Operating Expenses 90.530 179 Net Income $14.470 180 181 182 a. Calculate the Current Ratio for Current Year (show formula as well) 183 184 Current Ratio = 185 186 187 b. Calculate the Current Year AR Turnover and Days Sales Uncollected Ratios (show formulas), 188 Exam Settings Points Possible Points Earned Points Possible! D a. Calculate the Current Ratio for Current Year (show formula as well) B E F Current Ratio = G H 7 b. Calculate the Current Year AR Turnover and Days Sales Uncollected Ratios (show formulas) 8 9 AR Turnover = 0 11 2 Days Sales Uncollected = 33 34 35 36 c. Calculate the Current Year Inventory Turnover and Days Sales in Inventory Ratio (show formulas) 97 98 Inventory Turnover = 99 00 01 Days Sales in Inventory = 02 203 204 205 d. Explain what these ratios tell you specifically about this company. Poi Poir 206 207 Points Points Exam Settings