Question: Please help me answer the following: show complete solutions and computations: For items 1 to 7 refer to the problem below: The following data shows
Please help me answer the following: show complete solutions and computations:
For items 1 to 7 refer to the problem below:


The following data shows actual figures for selected accounts of Liezel Corporation for the calendar year 200A and selected budget figures for 200B. The company's accounting manager is in the process of reviewing the 200B budget and calculating some ratios which he thinks are relevant in the review: Budgeted Actual December 31, 200B December 31, 200A Current Assets: Cash 16,000.00 8,000.00 Accounts Receivable 80,000.00 56,000.00 Inventory 56,000.00 64,000.00 Other current assets 16,000.00 16,000.00 Total current assets 168,000.00 144,000.00 Noncurrent assets 220,000.00 204,000.00 Total Assets 388,000.00 348,000.00 Current Liabilities 62,400.00 68,000.00 Long-term liabilities 60,000.00 24,000.00 Total Liabilities 122,400.00 92,000.00 Common Stock (P24 par value) 240,000.00 240,000.00 Retained Earnings 25,600.00 16,000.00 Total Equity 265,600.00 256,000.00 Total liabilities and equity 388,000.00 348,000.00 Sales (all on credit) 280,000.00 Cost of Goods sold (128,000.00) Gross income 152,000.00 Administrative Expenses 53,600.00 Operating Income 98,400.00 Interest Expense 2,400.00 Income before tax 96,000.00 Income Tax ( 40%) 38,400.00 Net Income 57,600.00For items 8 through 10, refer to the problem below: E 2003 200A Sales 500,000.00 375,000.00 Common Stock 125,000.00 Retained Earnings 105,000.00 Dividend Payout Ratio 40% After Tax Prot 4% of Sales Cash 12% of Sales Accounts Receivable 18% of Sales Inventory 30% of Sales Fixed assets, net 40% of Sales Accounts Payable 20% of Sales Accruals 5% of Sales
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