Hi,

I would like to check my answer before I submit it for a final grade.The problem I am doing is 4-58

iPad 10:09 PM 99% i 2. Compare the current ratios. Which company has the larger ratio, and what do the ratios tell you about the liquidity of the companies? 3. Compute the gross margin percentage, the return on sales, and the return on common stock- holders' equity 4. Compare the profitability of the two companies 4-58 Analyzing Starbucks' Financial Statements This problem develops skills in preparing adjusting journal entries. The balance sheet of Starbucks for the year ended October 2, 2011, included the following information (all $ amounts in millions) "OBJECTIVES 2, 4 Prepaid expenses and other current assets Other accrued expenses October 2, 2011 $161.5 319.0 October 3, 2010 $156.5 262.8 Suppose that during the year ended October 2, 2011, $207.5 million cash was disbursed and debited to Prepaid Expenses and $279.3 million of liabilities classified as Other Accrued Expenses were paid in cash 1. Assume that the Prepaid Expenses account relates to outlays for miscellaneous operating expenses, for example, supplies, insurance, and short-term rentals. Prepare summary journal entries for (a) the disbursements, and (b) the expenses (for our purposes, debit Operating Expenses) for the year ended October 2, 2011. Post the entries to T-accounts 2. Prepare summary journal entries for (a) the disbursements, and (b) the expenses related to the Other Accrued Expenses account for the year ended October 2, 2011. (For our purposes, debit Operating Expenses.) Post the entries to T-accounts 4-59 Analyzing Financial Statements Using the Internet Go to www.columbia.com to find Columbia Sportswear's home page. Under the About Us menu near the bottom of the page, select Investor Relations. Then select Financial Information and click on the most recent annual report. You may also select the most recent Form 10-K. Answer the following questions OBJECTIVES 7,9 1 Name one item on Columhia Snortswear' halance sheet that most likelv renresents nnex Previous Next