Question: Can somebody please help me solve for the Current ratio for 2011, the Debt ratio for 2012, Earnings per share for 2011, Return on Assets

 Can somebody please help me solve for the Current ratio for

Can somebody please help me solve for the Current ratio for 2011, the Debt ratio for 2012, Earnings per share for 2011, Return on Assets for 2011, and Return on Equity for 2011

Use the following information to answer the next 5 questions Balance Sheet Smithson Iron, Incorporated (Years ending December 31) 2011 2012 Cash 24,000 22,200 33,000 Accounts receivable 40,000 52,200 83,100 Inventory Net plant and equipment 285,000 295,000 433,300 Total assets 401,200 Notes payable 16,000 13,000 49,000 Accounts payable 57,000 Accruals 6,000 5,000 175,000 Long-term debt 160,000 Common stock ($2.50 par) 25,000 27,000 Capital surplus 80,000 84,000 Retained earnings 65,200 72,300 433,300 Total Liab. & Equity 401,200 Miscellaneous Income Statement Data: Sales (2011)- $832,400 Sales (2012) $923,400 Net income (2011) $42,300 Net income (2012) $47,800

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock blur-text-image
Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock
Step: 3 Unlock

Students Have Also Explored These Related Finance Questions!