What is the company's 2021 current ratio? Acme Building Products Inc. Income statement ($ in millions)...
Fantastic news! We've Found the answer you've been seeking!
Question:
Transcribed Image Text:
What is the company's 2021 current ratio? Acme Building Products Inc. Income statement ($ in millions) 2021 Revenue $ 237,844 Costs of goods sold 177,103 Depreciation 17,280 Earnings before Interest and Taxes 43,461 Interest expense 31,170 12,291 Taxable income Taxes (@35%) Net income 4,302 7,989 Acme Building Products Inc. Balance sheet ($ in millions) 2020 2021 2020 2021 Cash 34,832 $ 43,160 Accounts Payable $ 41,553 $ 42,547 Accounts Receivable 86,673 83,134 Notes Payable 26,908 26,210 Inventory 57,051 61,857 Total 68,460 68,756 Total 178,555 188,150 Long-term debt 64,625 59,925 Net fixed assets 62,954 56,945 Common stock* 52,875 52,875 $ $ Retained earnings $ 55,549 $ 63,539 Total assets 241,510 245,096 Total 241,510 245,096 *Par value of $1 per share What is the company's 2021 current ratio? Acme Building Products Inc. Income statement ($ in millions) 2021 Revenue $ 237,844 Costs of goods sold 177,103 Depreciation 17,280 Earnings before Interest and Taxes 43,461 Interest expense 31,170 12,291 Taxable income Taxes (@35%) Net income 4,302 7,989 Acme Building Products Inc. Balance sheet ($ in millions) 2020 2021 2020 2021 Cash 34,832 $ 43,160 Accounts Payable $ 41,553 $ 42,547 Accounts Receivable 86,673 83,134 Notes Payable 26,908 26,210 Inventory 57,051 61,857 Total 68,460 68,756 Total 178,555 188,150 Long-term debt 64,625 59,925 Net fixed assets 62,954 56,945 Common stock* 52,875 52,875 $ $ Retained earnings $ 55,549 $ 63,539 Total assets 241,510 245,096 Total 241,510 245,096 *Par value of $1 per share
Expert Answer:
Answer rating: 100% (QA)
Using the 2021 balance sheet information provided Current Assets Cash 43160 Accounts R... View the full answer
Related Book For
Fundamentals of Corporate Finance
ISBN: 978-0077861629
8th edition
Authors: Richard Brealey, Stewart Myers, Alan Marcus
Posted Date:
Students also viewed these finance questions
-
The Protek Company is a large manufacturer and distributor of electronic components. Because of some successful new products marketed to manufacturers of personal computers, the firm has recently...
-
Character.cpp/hpp given: Character.cpp: #include "Character.hpp" /** Default constructor. Default-initializes all private members. Default character name: "NAMELESS". Booleans are default-initialized...
-
Medtronics is a world leader in medical technology. The following selected data are adapted from a recent annual report. (Dollar amounts are stated in millions.) The company has long-term liabilities...
-
Suppose that in a particular area the consumption of water varies tremendously throughout the year, with average household summer use exceeding winter use by a great deal. What effect would this have...
-
Moreau Lock & Key Ltd. has a hefty investment in security equipment, as reported in the company's balance sheet at December 31, 2016: Property, plant, and equipment, at cost: Land...
-
A proton is initially at rest and moves through three different regions as shown in the figure. In region 1, the proton accelerates across a potential difference of 3330 V. In region 2, there is a...
-
This appeal involves the validity of a will executed in contravention of an earlier contract to make mutual wills. A husband and wife signed a contract to make mutual wills and then executed those...
-
Huron Group had the following direct materials data for its product: Standard costs for one unit of output Material Twinkle. . . . . . . . . . . . . . . . 20 units of input at $20 Material Star . . ....
-
The population in January 2 0 0 3 was estimated to be about 6 . 3 0 billion people. Assume that the population will continue to grow exponentially at the rate of about 1 . 3 % per year. Then the...
-
Assume Julie is an entrepreneur and has had good success so far with her business. In doing so , she sacrifices time with her family and has given up some of the hobbies she previously enjoyed,...
-
Velocity versus time graphs are shown below. First you should match graphs to the corresponding cases. Second, explain why you chose each of the graphs. (ii) (iii) (iv) V t t V a. An object that is...
-
A bird flying at a height of 30 m doubles its speed as it descends to a height of 15 m. The gravitational potential energy has changed by a factor of O 2 4 1 3 0.5
-
(b) Explain how a thin film of refractive index n can be used as an anti-reflective coating on a glass lens with refractive index ng. Give the equations that describe the destructive interference...
-
7. How many molecules are there in a sample of gas that occupies a volume 9 L at STP. (1 point) A. O 2.42e23 B. O 1.08e23 C. O 1.586e23 D. O 2.165e23 E. O 4.369e23 8. A 100 g sample of di-atomic...
-
Figure 3 shows an elastic collision of two pucks on a friction-less air hockey table. Puck A has mass m = 0.500 kg and puck B has mass mg = 0.300 kg. Puck A has an initial velocity of 4.00 m/s in the...
-
Veritek wholesaler operates at capacity and sells textbook and make note of your key findings in your self-reflection exercise, you should incorporate your key find analysis. a. What do you value...
-
Classify each of the following activities as proper or prohibited under the various consumer statutes you have studied. a. Calling a hospital room to talk to a debtor who is a patient there. b....
-
True or false? a. Exchange traded funds are hedge funds that can be bought and sold on the stock exchange. b. Hedge funds provide small investors with low-cost diversification. c. The sale of...
-
Consider three bonds with 8% coupon rates, all making annual coupon payments and all selling at face value. The short-term bond has a maturity of 4 years, the intermediate-term bond has maturity 8...
-
Here are the abbreviated financial statements for Planner's Peanuts: If sales increase by 20% in 2016 and the company uses a strict percentage of sales planning model (meaning that all items on the...
-
Online electronics retailer Kogan has announced an initial public offering to raise $50 million, with plans to list on the ASX at the end of June. Kogan, founded in 2006, said it would have a market...
-
For each company below, fill in the missing data. Each company is independent. Sales Beginning finished goods Cost of goods manufactured Ending finished goods Cost of sales Income Statement Company X...
-
Innovative Computers Pty Ltd began manufacturing inexpensive computers for the student market on 1 July 2018. The variable costs of manufacturing each computer are as follows. During the year ended...
Study smarter with the SolutionInn App