J. P. Robard Mfg., Inc.Balance Sheet ($000)Cash$470Accounts receivable2,100Inventories940Current assets$3,510Net fixed assets4,590Total assets$8,100 Accounts payable$1,120Accrued expenses580Short-term notes payable280Current liabilities$1,980Long-term debt2,040Owners' equity4,080Total liabilities and owners' equity$8,100(Clickon the icon in order to copy its contents into aspreadsheet.) J. P. Robard Mfg., Inc.Income Statement ($000)Net sales (all credit)$8,010Cost of goods sold(3,300)Gross profit$4,710Operating expenses (includes $500 depreciation)(3,090)Net operating income$1,620Interest expense(360)Earnings before taxes$1,260Income taxes(35%)(441)Net income$819 (Calculating financial ratios) The balance sheet and income statement for the J. P. Robard Mfg. Company are as follows:Operating return on assetsDebt ratioAverage collection periodFixed asset turnoverReturn on equityCurrent ratioTimes interest earnedInventory turnoverTotal asset turnoverOperating profit marginThe company's current ratio is(Round to two decimal places.)Calculate the following ratios: J. P. Robard Mfg., Inc.Balance Sheet ($000)CashAccounts receivableInventoriesCurrent assetsNet fixed assetsTotal assetsAccounts payableAccrued expensesShort-term notes payableCurrent liabilitiesLong-term debtOwners' equityTotal liabilities and owners' equity$4702100940$3,5104590$8,100$1,120$1,98058028020404080$8,100

Ratios are calculated using a company's financial statements to analyze its position related to…

Answered: (Calculating financial ratios) The…

7th Edition

ISBN:9781337115773

Author:Maryanne M. Mowen, Don R. Hansen, Dan L. Heitger

Publisher:Maryanne M. Mowen, Don R. Hansen, Dan L. Heitger

Chapter15: Financial Statement Analysis

Section: Chapter Questions

Problem 30BEB: Klynveld Companys balance sheet shows total liabilities of 94,000,000, total stockholders equity of...

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Question

J. P. Robard Mfg., Inc. Balance Sheet ($000)
Cash	$470
Accounts receivable	2,100
Inventories	940
Current assets	$3,510
Net fixed assets	4,590
Total assets	$8,100

Accounts payable	$1,120
Accrued expenses	580
Short-term notes payable	280
Current liabilities	$1,980
Long-term debt	2,040
Owners' equity	4,080
Total liabilities and owners' equity	$8,100

(Click

on the icon

in order to copy its contents into a

spreadsheet.)

J. P. Robard Mfg., Inc. Income Statement ($000)
Net sales (all credit)	$8,010
Cost of goods sold	(3,300)
Gross profit	$4,710
Operating expenses (includes $500 depreciation)	(3,090)
Net operating income	$1,620
Interest expense	(360)
Earnings before taxes	$1,260
Income taxes (35%)	(441)
Net income	$819