Net Sales Net Income The following balances were reported in the financial statements for Nafooz Company....

Transcribed Image Text:

Net Sales Net Income The following balances were reported in the financial statements for Nafooz Company. Current Year Prior Year $830,000 $730,000 110,000 Current Assets Current Liabilities Total Liabilities Total Assets 230,000 110,000 280,000 780,000 95,000 205,000 130,000 255,000 630,000 Required Compute the following ratios for the current and the prior years for Nafooz Company. (Round answers to one decimal place.) a. Return on sales ratio b. Current ratio c. Debt-to-total-assets ratio Current Year Prior Year % % 96 % Net Sales Net Income The following balances were reported in the financial statements for Nafooz Company. Current Year Prior Year $830,000 $730,000 110,000 Current Assets Current Liabilities Total Liabilities Total Assets 230,000 110,000 280,000 780,000 95,000 205,000 130,000 255,000 630,000 Required Compute the following ratios for the current and the prior years for Nafooz Company. (Round answers to one decimal place.) a. Return on sales ratio b. Current ratio c. Debt-to-total-assets ratio Current Year Prior Year % % 96 %

Answer rating: 100% (QA)

Answer Solution 2013 2012 Current Ratio 21 16 Explanat... View the full answer