Question: Please answer the following questions: A , B , C , D , E , F , G and H Problem 1 : SUMMARY BALANCE

Please answer the following questions: A,B,C,D,E,F,G and H
Problem 1:
SUMMARY BALANCE SHEET
ASSETS LIABILITIES & SH EQUITY
Cash & Equivalents $2,000 Accounts Payable $6,000
Accounts Receivable 7,000 Notes Payable 4,000
Inventory 5,000 Current Liabilities $10,000
Current Assets $14,000
Prepaid Expense $2,000 Long-term Debt $9,000
P, P & E (net) $20,000 SH Equity $17,000
Total Assets $36,000 Total Liab & SH Eq $36,000
SUMMARY OPERATING PERFORMANCE
Sales $50,000
Net Income 5,400
Dividends Paid 1,350
Given the following information, calculate:
(a) current ratio
(b) quick/acid-test ratio
(c) Total debt or leverage ratio
(d) Return on Assets
(e) Net Margin
(f) Return on Equity
(g) Asset Turnover
(h) Earnings Retention Ratio

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 Accounting Questions!