K Comparative financial statement data of Tanfield, Inc. follow: (Click the icon to view the income...

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K Comparative financial statement data of Tanfield, Inc. follow: (Click the icon to view the income statement.) (Click the icon to view the balance sheet.) (Click the icon to view the additional financial information.) Read the requirements. Requirement 1a. Compute the current ratios for 2024 and 2023. Begin by selecting the formula to compute the current ratio. Current ratio Requirements 1. Compute the following ratios for 2024 and 2023: 2. a. Current ratio b. Cash ratio c. Times-interest-earned ratio d. Inventory turnover e. Gross profit percentage f. Debt to equity ratio g. Rate of return on common stockholders' equity h. Earnings per share of common stock i. Price/earnings ratio Decide (a) whether Tanfield's ability to pay debts and to sell inventory improved or deteriorated during 2024 and (b) whether the investment attractiveness of its common stock appears to have increased or decreased. Print Done Additional Financial Information 1. Market price of Tanfield's common stock: $94.01 at December 31, 2024, and $61.20 at December 31, 2023. 2. Common shares outstanding: 12,000 on December 31, 2024 and 10,000 on December 31, 2023 and 2022. 3. All sales are on credit. Print Done Income Statement Tanfield, Inc. Comparative Income Statement Years Ended December 31, 2024 and 2023 2024 2023 Net Sales Revenue $ 467,000 $ 423,000 Cost of Goods Sold 240,000 211,000 Gross Profit 227,000 212,000 132,000 130,000 Operating Expenses Income From Operations 95,000 82,000 9,000 11,000 Interest Expense Income Before Income Tax 86,000 71,000 21,000 26,000 Income Tax Expense $ 65,000 $ 45,000 Net Income Print Done - Balance Sheet Assets Current Assets: Cash Tanfield, Inc. Comparative Balance Sheet December 31, 2024 and 2023 2024 2023 2022* $ 97,000 $ 95,000 Accounts Receivables, Net Merchandise Inventory 114,000 114,000 $ 102,000 146,000 158,000 205,000 16,000 10,000 Prepaid Expenses Total Current Assets 373,000 377,000 214,000 175,000 Property, Plant, and Equipment, Net $ 587,000 $ 552,000 $596,000 Total Assets Liabilities Print Done Balance Sheet 16,000 10,000 Prepaid Expenses Total Current Assets 373,000 377,000 214,000 175,000 Property, Plant, and Equipment, Net $ 587,000 $ 552,000 Total Assets $596,000 Liabilities Total Current Liabilities Long-term Liabilities Total Liabilities $ 228,000 $ 246,000 120,000 94,000 348,000 340,000 Stockholders' Equity Preferred Stock, 4% 104,000 104,000 135,000 108,000 Common Stockholders' Equity, no par 91,000 587,000 $ 552,000 Total Liabilities and Stockholders' Equity * Selected 2022 amounts Print Done - K Comparative financial statement data of Tanfield, Inc. follow: (Click the icon to view the income statement.) (Click the icon to view the balance sheet.) (Click the icon to view the additional financial information.) Read the requirements. Requirement 1a. Compute the current ratios for 2024 and 2023. Begin by selecting the formula to compute the current ratio. Current ratio Requirements 1. Compute the following ratios for 2024 and 2023: 2. a. Current ratio b. Cash ratio c. Times-interest-earned ratio d. Inventory turnover e. Gross profit percentage f. Debt to equity ratio g. Rate of return on common stockholders' equity h. Earnings per share of common stock i. Price/earnings ratio Decide (a) whether Tanfield's ability to pay debts and to sell inventory improved or deteriorated during 2024 and (b) whether the investment attractiveness of its common stock appears to have increased or decreased. Print Done Additional Financial Information 1. Market price of Tanfield's common stock: $94.01 at December 31, 2024, and $61.20 at December 31, 2023. 2. Common shares outstanding: 12,000 on December 31, 2024 and 10,000 on December 31, 2023 and 2022. 3. All sales are on credit. Print Done Income Statement Tanfield, Inc. Comparative Income Statement Years Ended December 31, 2024 and 2023 2024 2023 Net Sales Revenue $ 467,000 $ 423,000 Cost of Goods Sold 240,000 211,000 Gross Profit 227,000 212,000 132,000 130,000 Operating Expenses Income From Operations 95,000 82,000 9,000 11,000 Interest Expense Income Before Income Tax 86,000 71,000 21,000 26,000 Income Tax Expense $ 65,000 $ 45,000 Net Income Print Done - Balance Sheet Assets Current Assets: Cash Tanfield, Inc. Comparative Balance Sheet December 31, 2024 and 2023 2024 2023 2022* $ 97,000 $ 95,000 Accounts Receivables, Net Merchandise Inventory 114,000 114,000 $ 102,000 146,000 158,000 205,000 16,000 10,000 Prepaid Expenses Total Current Assets 373,000 377,000 214,000 175,000 Property, Plant, and Equipment, Net $ 587,000 $ 552,000 $596,000 Total Assets Liabilities Print Done Balance Sheet 16,000 10,000 Prepaid Expenses Total Current Assets 373,000 377,000 214,000 175,000 Property, Plant, and Equipment, Net $ 587,000 $ 552,000 Total Assets $596,000 Liabilities Total Current Liabilities Long-term Liabilities Total Liabilities $ 228,000 $ 246,000 120,000 94,000 348,000 340,000 Stockholders' Equity Preferred Stock, 4% 104,000 104,000 135,000 108,000 Common Stockholders' Equity, no par 91,000 587,000 $ 552,000 Total Liabilities and Stockholders' Equity * Selected 2022 amounts Print Done -