Using the financial statements of Jet Boat Ltd., calculate the 13 basic ratios. (Use 365 days...

 

  

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Using the financial statements of Jet Boat Ltd., calculate the 13 basic ratios. (Use 365 days in a year. Round the answers in days to whole number and round the answers in dollars to whole dollars. Round all other final answers to 2 decimal places.) Current assets: Cash Marketable securities Accounts receivable (net) Inventory Total current assets Net plant and equipment Total assets JET BOAT LTD. Balance Sheet December 31, 20xx Assets Liabilities and Shareholders' Equity Current liabilities: Accounts payable Bank loans Accrued expenses Total current liabilities Long-term liabilities: Bonds payable* Total liabilities Shareholders' equity: Common stock Retained earnings Total shareholders' equity Total liabilities and shareholders' equity $ $ 40,000 85,000 100,000 375,000 600,000 600,000 1,200,000 $ 100,000 125,000 25,000 250,000 500,000 750,000 350,000 100,000 450,000 1,200,000 *Sinking fund provision of $50,000 a year. JET BOAT LTD. Income Statement Year ending December 31, 20XX Sales (on credit) Less: cost of goods sold Gross profit Selling and administrative expenses Operating profit (EBIT) Interest expense Earnings before taxes (EBT) Taxes (20%) Earnings after taxes (EAT) Profit margin Return on assets (investment) Return on equity Average daily sales. Average daily COGS Accounts payable turnover Accounts payable period Capital asset turnover Current ratio Quick ratio Debt to total assets. Times interest earned Fixed charge coverage 55 $ 2,900,000 2,465,000 $ 435,000 250,000 185,000 94,000 15% 6.07% 16.18% 7,945.215 91,000 18,200 72,800 IHM days Using the financial statements of Jet Boat Ltd., calculate the 13 basic ratios. (Use 365 days in a year. Round the answers in days to whole number and round the answers in dollars to whole dollars. Round all other final answers to 2 decimal places.) Current assets: Cash Marketable securities Accounts receivable (net) Inventory Total current assets Net plant and equipment Total assets JET BOAT LTD. Balance Sheet December 31, 20xx Assets Liabilities and Shareholders' Equity Current liabilities: Accounts payable Bank loans Accrued expenses Total current liabilities Long-term liabilities: Bonds payable* Total liabilities Shareholders' equity: Common stock Retained earnings Total shareholders' equity Total liabilities and shareholders' equity $ $ 40,000 85,000 100,000 375,000 600,000 600,000 1,200,000 $ 100,000 125,000 25,000 250,000 500,000 750,000 350,000 100,000 450,000 1,200,000 *Sinking fund provision of $50,000 a year. JET BOAT LTD. Income Statement Year ending December 31, 20XX Sales (on credit) Less: cost of goods sold Gross profit Selling and administrative expenses Operating profit (EBIT) Interest expense Earnings before taxes (EBT) Taxes (20%) Earnings after taxes (EAT) Profit margin Return on assets (investment) Return on equity Average daily sales. Average daily COGS Accounts payable turnover Accounts payable period Capital asset turnover Current ratio Quick ratio Debt to total assets. Times interest earned Fixed charge coverage 55 $ 2,900,000 2,465,000 $ 435,000 250,000 185,000 94,000 15% 6.07% 16.18% 7,945.215 91,000 18,200 72,800 IHM days