Question: I need help in this question. Please do it fast. I have 30 minutes only (Use the balance sheet below to answer MCQ from 15

I need help in this question. Please do it fast. I have 30 minutes only

I need help in this question. Please do it fast. I have

30 minutes only (Use the balance sheet below to answer MCQ from

15 to 20) Jones Company Balance Sheet Assets: Cash and marketable securities

(Use the balance sheet below to answer MCQ from 15 to 20) Jones Company Balance Sheet Assets: Cash and marketable securities $ 400,000 Accounts receivable 1,025,000 Inventories 1,937,500 Other current assets 124,000 Total current assets $3,486,500 Fixed assets 2,800,000 Less: accum. depr. (1,087,500 Net fixed assets $1,712,500 Total assets $5,199,000 Liabilities: Accounts payable Notes payable( due in 3 months) Accrued taxes Total current liabilities Long-term debt Common equity Total liabilities and owner's equity $ 340,000 825,000 42,000 $1,207,000 1,175,000 2,817,000 $5,199,000 Net sales (all credit) Less: Cost of goods sold Selling and administrative expense Depreciation expense Interest expense Earnings before taxes Income taxes Net income $7,375,000 (4,312,500) (1,387,500) (135,000) (127,000 1,413,000 (625,000 $ 788,000 Question 15 1 Point Based on the information in the above Table, the current ratio is 1. 1.93 2. 2.48 3. 2.89 4. 4.21 18. Question 16 2 Points Based on the information in the above table, the average collection period is (to the nearest day) 1. 51 days 2. 84 days 3. 110 days 4. 127 days 19. Question 17 1 Point Based on the information in the above table, the debt ratio is 1. 19.5% 2. 22.6% 3. 45.8% 4. 41.6% Question 18 2 Points Based on the information in the above table, the OROA is 1. 0.20 2.0.30 3. 1.27 4. 3.38 21. Question 19 1 Point Based on the information in Table 4-1, the return on equity is: 1. 28% 2. 45% 3. 22% 4. 29%

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!