Please include everything used, this is a review from a class I took over a year ago and I don't remember how to get the answers and haven't been getting the correct ones. Additional Information for PNG Co. in 20X1:1. All sales were on account.2. Earnings per share were $2.00.3. The closing stock price on 12/31/X1 was $15.40.4. PNG had 68,500 of its only class of (common) stock outstanding on 12/31/X1. 1. What was PNG Company's current ratio for the year 20X1? 7.74 3.32 2.47 2.66 2. What was PNG Company's debt to equity ratio for the year 20X1? 0.22 0.46 1.39 0.68 3. What was PNG Company's inventory turnover for the year 20X1? 5.30 times 27.62 times 34.35 times 3.05 times 4. What was PNG Company's return on equity for the year 20X1? 36.39% 74.66% 42.44% 274.82% 5. What was PNG Company's profit margin for the year 20X1? 12.02% 5.76% 36.39% 2.80% Comparative Balance SheetsFor the year ended December 3120X120X0Current assetsCash$157,000$105,000Accounts receivable49,00062,000Inventory53,70036,100Prepaid rent11.4008.300Total current assets$271,100$211,400Long-term assetsInvestment in bonds$30,000$14,800Land216,300184,200Equipment (net)114.500137,900Total long-term assets$360,800$336,900Total assets$631,900$548,300Current liabilitiesAccounts payable$61,300$52,700Interest payable4,9008,500Income tax payable15,40012,600Total current liabilities$81,600$73,800Long-term liabilitiesBonds payable$173,800$205,400Stockholders' equityCommon stock$183,500$165,200Retained earnings193.000103,900Total liabilities and equity$631,900$548,300 PNG CompanyIncome StatementFor the year ended December 31, 20X1RevenuesSales revenue$2,380,000Cost of goods sold1.240,000Gross profit$1,140,000ExpensesOperating expenses$899,600Depreciation expense23,400Interest expense19,000Income tax expense61.000Total expenses$1.003,000Net income$137,000

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lease include everything used, this is a review from a class I took over a year ago and I don't remember how to get the answers and haven't been getting the correct ones. Additional Information for PNG Co. in 20X1: 1. All sales were on account. 2. Earnings per share were $2.00. 3. The closing stock price on 12/31/X1 was $15.40. 4. PNG had 68,500 of its only class of (common) stock outstanding on 12/31/X1. 1. What was PNG Company's current ratio for the year 20X1? 7.74 3.32 2.47 2.66 2. What was PNG Company's debt to equity ratio for the year 20X1? 0.22 0.46 1.39 0.68 3. What was PNG Company's inventory turnover for the year 20X1? 5.30 times 27.62 times 34.35 times 3.05 times

lease include everything used, this is a review from a class I took over a year ago and I don't remember how to get the answers and haven't been getting the correct ones. Additional Information for PNG Co. in 20X1: 1. All sales were on account. 2. Earnings per share were $2.00. 3. The closing stock price on 12/31/X1 was $15.40. 4. PNG had 68,500 of its only class of (common) stock outstanding on 12/31/X1. 1. What was PNG Company's current ratio for the year 20X1? 7.74 3.32 2.47 2.66 2. What was PNG Company's debt to equity ratio for the year 20X1? 0.22 0.46 1.39 0.68 3. What was PNG Company's inventory turnover for the year 20X1? 5.30 times 27.62 times 34.35 times 3.05 times

Survey of Accounting (Accounting I)

8th Edition

ISBN:9781305961883

Author:Carl Warren

Publisher:Carl Warren

Chapter9: Metric-analysis Of Financial Statements

Section: Chapter Questions

Problem 9.4.10P: Twenty metrics of liquidity, solvency, and profitability The comparative financial statements of...

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Please include everything used, this is a review from a class I took over a year ago and I don't remember how to get the answers and haven't been getting the correct ones.

Additional Information for PNG Co. in 20X1:
1. All sales were on account.
2. Earnings per share were $2.00.
3. The closing stock price on 12/31/X1 was $15.40.
4. PNG had 68,500 of its only class of (common) stock outstanding on 12/31/X1.

1. What was PNG Company's current ratio for the year 20X1?

7.74

3.32

2.47

2.66

2. What was PNG Company's debt to equity ratio for the year 20X1?

0.22

0.46

1.39

0.68

3. What was PNG Company's inventory turnover for the year 20X1?

5.30 times

27.62 times

34.35 times

3.05 times

4. What was PNG Company's return on equity for the year 20X1?

36.39%

74.66%

42.44%

274.82%

5. What was PNG Company's profit margin for the year 20X1?

12.02%

5.76%

36.39%

2.80%

Comparative Balance Sheets
For the year ended December 31
20X1
20X0
Current assets
Cash
$157,000
$105,000
Accounts receivable
49,000
62,000
Inventory
53,700
36,100
Prepaid rent
11.400
8.300
Total current assets
$271,100
$211,400
Long-term assets
Investment in bonds
$30,000
$14,800
Land
216,300
184,200
Equipment (net)
114.500
137,900
Total long-term assets
$360,800
$336,900
Total assets
$631,900
$548,300
Current liabilities
Accounts payable
$61,300
$52,700
Interest payable
4,900
8,500
Income tax payable
15,400
12,600
Total current liabilities
$81,600
$73,800
Long-term liabilities
Bonds payable
$173,800
$205,400
Stockholders' equity
Common stock
$183,500
$165,200
Retained earnings
193.000
103,900
Total liabilities and equity
$631,900
$548,300

PNG Company
Income Statement
For the year ended December 31, 20X1
Revenues
Sales revenue
$2,380,000
Cost of goods sold
1.240,000
Gross profit
$1,140,000
Expenses
Operating expenses
$899,600
Depreciation expense
23,400
Interest expense
19,000
Income tax expense
61.000
Total expenses
$1.003,000
Net income
$137,000

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