Can you please help me 3And the following financial ratlos for Earl Grey Golf Corp. (use year-end figures rather than average values where appropriate): (Roundthe final answers to 2 decimal places.)Short-term solvency ratios:a. Current ratiob. Quick ratioc. Cash ratioAsset utilization ratios:d. Total asset turnovere. Inventory turnoverf. Receivables turnoverLong-term solvency ratios:g. Total debt ratioh. Debt-equity ratio1. Equity multiplierj. Times interest earnedk. Cash coverage ratioProfitability ratios:1. Profit marginm. Return on assetsn. Return on equity2017timestimestimesLines312017etimestimestimestimestimes20182018timestimestimes Some recent financial statements for Earl Grey Golf Corp. follow.Current assetsAccounts receivableInventoryFixed assetsNet plant and equipmentTotal assetsAssetsCost of goods soldDepreciationEarnings before interest and taxTaxable incomeTaxes (35%)Net income2017Additions to retained earnings25,392$ 61,886$ 24,046 $ 24,25515,23527,155$324,695EARL GREY GOLF CORP.2017 and 2018 Statement of Financial Position$386,581EARL GREY GOLF CORP.2018 Statement of Comprehensive Income2018$365,734$20,00023,788Current liabilitiesAccounts payableNotes payableOtherLong-term debtOwner's equityCommon stock and paid-in surplus$366.996253,12232,220Total$ 81,65414,300Total liabilitles and owners' equity$ 67.35423,574$ 43,780Liabilities and Owners' EquityRetained earningsTotal2017$ 23,18412,00011,571$46,755$ 80,000$ 40,000219,826$259,826$386,5812018$ 27,42010,80015,553$ 53,773$ 95,000$ 40,000243,606$283,606$432,379

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Managerial Accounting: The Cornerstone of Business Decision-Making

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 32BEB

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A comparative balance sheet and an income statement for Rowan Company are given below: Rowan CompanyComparative Balance Sheet(dollars in millions) EndingBalance BeginningBalance Assets Current assets: Cash and cash equivalents $ 70 $ 91 Accounts receivable 536 572 Inventory 620 580 Total current assets 1,226 1,243 Property, plant, and equipment 1,719 1,656 Less accumulated depreciation 640 480 Net property, plant, and equipment 1,079 1,176 Total assets $ 2,305 $ 2,419 Liabilities and Stockholders' Equity Current liabilities: Accounts payable $ 205 $ 180 Accrued liabilities 94 105 Income taxes payable 72 88 Total current liabilities 371 373 Bonds payable 180 310 Total liabilities 551 683 Stockholders' equity: Common stock 800 800 Retained earnings 954 936 Total…
A comparative balance sheet and an income statement for Rowan Company are given below: Rowan CompanyComparative Balance Sheet(dollars in millions) EndingBalance BeginningBalance Assets Current assets: Cash and cash equivalents $ 70 $ 91 Accounts receivable 536 572 Inventory 620 580 Total current assets 1,226 1,243 Property, plant, and equipment 1,719 1,656 Less accumulated depreciation 640 480 Net property, plant, and equipment 1,079 1,176 Total assets $ 2,305 $ 2,419 Liabilities and Stockholders' Equity Current liabilities: Accounts payable $ 205 $ 180 Accrued liabilities 94 105 Income taxes payable 72 88 Total current liabilities 371 373 Bonds payable 180 310 Total liabilities 551 683 Stockholders' equity: Common stock 800 800 Retained earnings 954 936 Total…
A comparative balance sheet and an income statement for Rowan Company are given below: Rowan CompanyComparative Balance Sheet(dollars in millions) EndingBalance BeginningBalance Assets Current assets: Cash and cash equivalents $ 70 $ 91 Accounts receivable 536 572 Inventory 620 580 Total current assets 1,226 1,243 Property, plant, and equipment 1,719 1,656 Less accumulated depreciation 640 480 Net property, plant, and equipment 1,079 1,176 Total assets $ 2,305 $ 2,419 Liabilities and Stockholders' Equity Current liabilities: Accounts payable $ 205 $ 180 Accrued liabilities 94 105 Income taxes payable 72 88 Total current liabilities 371 373 Bonds payable 180 310 Total liabilities 551 683 Stockholders' equity: Common stock 800 800 Retained earnings 954 936 Total…

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