COMPUTE FOR THE LIQUIDITY, SOLVENCY, EFFICIENCY AND PROFITABILITY USING THE DIFFERENT FORMULAS IN EACH CATEGORY. JKL CompanyCOMPARATIVE BALAŃCE SHEETFor the Year 2015 & 2016Assets20152016Cash290,000 400,000120,000Accounts Receivable100,00020,00080,00020,000620,000Trading Securities40,00060,00010,000InventoriesPrepaid ExpensesTotal Current Assets520,000Total Non-CurrentAssets200,000300,000Total Assets720,000920,000LiabilitiesTotal CurrentLiabilities100,00050,000Total Non-CurrentLiabilities300,000450,000Owner'sEquityTotal Owner's Equity320,000420,000Total Liabilities & OE720,000920,000JKL CompanyCOMPARATIVE INCÓME STATEMENTFor the Year 2015 & 2016:20152016Net Sales700,000900,000Cost of Goods Sold(100,000)(80,000)600.000820,000Gross ProfitOperating Expenses(50,000)(120,000) Earnings Before Interestand Taxes550,000700,000Interest Expense(10.000)(50,000)NI before Tax540,000650,000Income Tax[162,000)(195.000Net Income378,000455,000

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Answered: COMPUTE FOR THE LIQUIDITY, SOLVENCY,…

Business

Accounting

COMPUTE FOR THE LIQUIDITY, SOLVENCY, EFFICIENCY AND PROFITABILITY USING THE DIFFERENT FORMULAS IN EACH CATEGORY.

Financial Accounting: The Impact on Decision Makers

10th Edition

ISBN:9781305654174

Author:Gary A. Porter, Curtis L. Norton

Publisher:Gary A. Porter, Curtis L. Norton

Chapter13: Financial Statement Analysis

Section: Chapter Questions

Problem 13.10E

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