ACC 205 Week 5 Exercise 6 Ratio computation
Ratio computation. The financial statements of the Lone Pine Company follow.
We Write Essays For Students
Tell us about your assignment and we will find the best writer for your paper
Write My Essay For MeLONE PINE COMPANY
Comparative Balance Sheets December 31, 20X2 and 20X1 ($000 Omitted) |
||
20X2 | 20X1 | |
Assets | ||
Current Assets | ||
Cash and Short-Term Investments | $ 400 | $ 600 |
Accounts Receivable (net) | 3,000 | 2,400 |
Inventories | 2,000 | 2,200 |
Total Current Assets | $5,400 | $5,200 |
Property, Plant, and Equipment | ||
Land | $1,700 | $ 600 |
Buildings and Equipment (net) | 1,500 | 1,000 |
Total Property, Plant, and Equipment | $3,200 | $1,600 |
Total Assets | $8,600 | $6,800 |
Liabilities and Stockholders’ Equity | ||
Current Liabilities | ||
Accounts Payable | $1,800 | $1,700 |
Notes Payable | 1,100 | 1,900 |
Total Current Liabilities | $2,900 | $3,600 |
Long-Term Liabilities | ||
Bonds Payable | 4,100 | 2,100 |
Total Liabilities | $7,000 | $5,700 |
Stockholders’ Equity | ||
Common Stock | $ 200 | $ 200 |
Retained Earnings | 1,400 | 900 |
Total Stockholders’ Equity | $1,600 | $1,100 |
Total Liabilities and Stockholders’ Equity | $8,600 | $6,800 |
LONE PINE COMPANY
Statement of Income and Retained Earnings For the Year Ending December 31,20X2 ($000 Omitted) |
||
Net Sales* | $36,000 | |
Less: Cost of Goods Sold | $20,000 | |
Selling Expense | 6,000 | |
Administrative Expense | 4,000 | |
Interest Expense | 400 | |
Income Tax Expense | 2,000 | 32,400 |
Net Income | $ 3,600 | |
Retained Earnings, Jan. 1 | 900 | |
$ 4,500 | ||
Cash Dividends Declared and Paid | 3,100 | |
Retained Earnings, Dec. 31 | $ 1,400 | |
*All sales are on account. |
Instructions
Compute the following items for Lone Pine Company for 20X2, rounding all calculations to two decimal places when necessary:
- Quick ratio
- Current ratio
- Inventory-turnover ratio
- Accounts-receivable-turnover ratio
- Return-on-assets ratio
- Net-profit-margin ratio
- Return-on-common-stockholders’ equity
- Debt-to-total assets
- Number of times that interest is earned
- Dividend payout rate
Follow this link to get a similar paper written from scratch
Place an order for this assignment or any other paper with us. We guarantee that the paper will be delivered within the specified deadline. We also have a personalized customer support and you will be able to communicate with your writer throughout the order preparation process. Thank you for choosing us.
Struggling with paper writing? Look no further, as you have found the ideal paper writing company! We are a reputable essay writing service that offers high-quality papers at affordable prices. On our user-friendly website, you can request a wide range of assignments. Rest assured that our work is entirely original. Each essay is crafted from scratch, tailored to meet the precise requirements of your assignment. We guarantee that it will successfully pass any plagiarism check.
Get Your Assignments Completed by Expert Writers. Hire Essay Helpers for Any Task
Order essays, term papers, research papers, reaction paper, research proposal, capstone project, discussion, projects, case study, speech/presentation, article, article critique, coursework, book report/review, movie review, annotated bibliography, or another assignment without having to worry about its originality – we offer 100% original content written completely from scratch