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December 31 Cash and cash equivalents Restricted cash Net receivables Inventory Other current assets Current assets Current liabilities Total liabilities Stockholders' equity Year ended December 31, Loss before income taxes Interest expense Cash flows from operating activities Capital expenditures 2017 2016 $3,812,358 $3,837,660 157,656 107,852 515,381 499,142 2,263,537 2,067,454 268,365 194,465 7,017,297 6,706,573 7,674,670 5,827,005 23,022,980 16,750,167 6,076,836 6,538,353 Current ratio Quick ratio 0.91 0.58 a. Compute the current ratio and quick ratio for each year. Note: Round answers to two decimal places. 2017 2016 2017 $(2,209,032) Debt-to-equity ratio Times interest earned ratio 515,703 (58,321) (3,859,258) b. Compute the debt-to-equity ratio for 2017 and 2016 and the times-interest-earned ratio for 2017. Note: Round answers to two decimal places. Use a negative sign with your answer, if appropriate. 1.15 0.76 ✔ 2017 3.79 (3.28)✔ 2016 2.56 c. Compute the cash burn rate for 2017. Note: Round answer to the nearest whole number. Use a negative sign with your answer, if appropria $0 *thousand per day

December 31 Cash and cash equivalents Restricted cash Net receivables Inventory Other current assets Current assets Current liabilities Total liabilities Stockholders' equity Year ended December 31, Loss before income taxes Interest expense Cash flows from operating activities Capital expenditures 2017 2016 $3,812,358 $3,837,660 157,656 107,852 515,381 499,142 2,263,537 2,067,454 268,365 194,465 7,017,297 6,706,573 7,674,670 5,827,005 23,022,980 16,750,167 6,076,836 6,538,353 Current ratio Quick ratio 0.91 0.58 a. Compute the current ratio and quick ratio for each year. Note: Round answers to two decimal places. 2017 2016 2017 $(2,209,032) Debt-to-equity ratio Times interest earned ratio 515,703 (58,321) (3,859,258) b. Compute the debt-to-equity ratio for 2017 and 2016 and the times-interest-earned ratio for 2017. Note: Round answers to two decimal places. Use a negative sign with your answer, if appropriate. 1.15 0.76 ✔ 2017 3.79 (3.28)✔ 2016 2.56 c. Compute the cash burn rate for 2017. Note: Round answer to the nearest whole number. Use a negative sign with your answer, if appropria $0 *thousand per day

Financial & Managerial Accounting
Financial & Managerial Accounting
14th Edition
ISBN:9781337119207
Author:Carl Warren, James M. Reeve, Jonathan Duchac
Publisher:Carl Warren, James M. Reeve, Jonathan Duchac
Chapter13: Statement Of Cash Flows
Section: Chapter Questions
Problem 13.1APR
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December 31 Cash and cash equivalents Restricted cash Net receivables Inventory Other current assets Current assets Current liabilities Total liabilities Stockholders' equity Year ended December 31, Loss before income taxes Interest expense Cash flows from operating activities Capital expenditures 2017 2016 $3,812,358 $3,837,660 157,656 107,852 515,381 499,142 2,263,537 2,067,454 268,365 194,465 7,017,297 6,706,573 7,674,670 5,827,005 23,022,980 16,750,167 6,076,836 6,538,353 Current ratio Quick ratio 0.91 0.58 a. Compute the current ratio and quick ratio for each year. Note: Round answers to two decimal places. 2017 2016 2017 $(2,209,032) Debt-to-equity ratio Times interest earned ratio 515,703 (58,321) (3,859,258) 1.15 0.76 ✓ b. Compute the debt-to-equity ratio for 2017 and 2016 and the times-interest-earned ratio for 2017. Note: Round answers to two decimal places. Use a negative sign with your answer, if appropriate. 2017 2016 3.79 (3.28) 2.56 c. Compute the cash burn rate for 2017. Note: Round answer to the nearest whole number. Use a negative sign with your answer, if appropriate. $0 *thousand per day
Transcribed Image Text:December 31 Cash and cash equivalents Restricted cash Net receivables Inventory Other current assets Current assets Current liabilities Total liabilities Stockholders' equity Year ended December 31, Loss before income taxes Interest expense Cash flows from operating activities Capital expenditures 2017 2016 $3,812,358 $3,837,660 157,656 107,852 515,381 499,142 2,263,537 2,067,454 268,365 194,465 7,017,297 6,706,573 7,674,670 5,827,005 23,022,980 16,750,167 6,076,836 6,538,353 Current ratio Quick ratio 0.91 0.58 a. Compute the current ratio and quick ratio for each year. Note: Round answers to two decimal places. 2017 2016 2017 $(2,209,032) Debt-to-equity ratio Times interest earned ratio 515,703 (58,321) (3,859,258) 1.15 0.76 ✓ b. Compute the debt-to-equity ratio for 2017 and 2016 and the times-interest-earned ratio for 2017. Note: Round answers to two decimal places. Use a negative sign with your answer, if appropriate. 2017 2016 3.79 (3.28) 2.56 c. Compute the cash burn rate for 2017. Note: Round answer to the nearest whole number. Use a negative sign with your answer, if appropriate. $0 *thousand per day
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