Consider Big Hit Company's financial results for the years ended December 31, 2020 and December 31, 2021.

                                                             2021                            2020
Total Current Assets                         $540,000                         $730,000
Quick Assets                                    $320,000                         $420,000
Total Assets                                     $950,000                         $1,230,000
Total Current Liabilities                    $345,000                         $280,000
Total Debt                                        $810,000                         $650,000
EBIT                                                $740,000                         $900,000
Interest Expense                              $48,000                         $45,000

Answers can be rounded to 2 decimal places.

Assuming a corporate tax rate of 25%, what is the company's net income for 2020 and 2021? (2 points)
What is the Current Ratio and Acid Test Ratio of the company for 2020 and 2021? (4 points)
What is the Return on Assets for the company for 2020 and 2021? (2 points)
What is the Debt Ratio of the company for 2020 and 2021? (2 points)
What is the TIE Ratio of the company for 2020 and 2021? (2 points)
Given the ratios calculated above, provide a brief analysis of your findings

Answer rating: 100% (QA)

answer Particulars 2021 in 2020 in Total Current Assets 540000 730000 Quick Assets 320000 420000 Tot... View the full answer