OUR COMPANYStatement of Financial PositionAs of December 312ΟΥ220Υ1Cash and Cash EquivalentsP 470,310P 519,860Accounts Receivable, net660,110565,170Inventory653,060555,480228,810Prepaid Expenses173,740Total Current Assets1,957,2201,869,320Property, Plant and Equipment, netIntangible Assets5,910,530745,2005,501,660721,910Total AssetsP8,612,950 P8,092,890Current LiabilitiesP1,273,050 P1,123,700Long-Term Liabilities577,580541,540Total Liabilities1,850,6301,665,240OUR, Capital6,762,3206,427,650Total Liabilities and Owner's Equity P8,612,950 P8,092,890OUR COMPANYStatement of Comprehensive IncomeFor the Year Ended20Υ220Υ1Sales RevenueP5,385,860 P4,921,8501,374,790Cost of Goods Sold1,254,860Gross Profit4,011,0703,666,9903,127,1503,406,460604,610Selling and Administrative ExpensesOperating IncomeInterest Expense539,84023,04011,820Net IncomeP 592,790P 516,800Required:1. Compute for the 20Y2 profitability ratios.2. Compute for the 20Y2 operating efficiency ratios.3. Compute for the 20Y2 financial health ratios.

The financial ratios are used to analyze the performance of the business. The ratios can be computed…

Answered: OUR COMPANY Statement of Financial…

Cornerstones of Financial Accounting

4th Edition

ISBN:9781337690881

Author:Jay Rich, Jeff Jones

Publisher:Jay Rich, Jeff Jones

Chapter11: The Statement Of Cash Flows

Section: Chapter Questions

Problem 13MCQ

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Twenty metrics of liquidity, solvency, and profitability The comparative financial statements of Automotive Solutions Inc. are as follows. The market price of Automotive Solutions Inc. common stock was $119.70 on December 31, 20Y8 Instructions Ratio of fixed assets to long-term liabilities
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JEY-4322 Inc. reported the following data for last year: JEY-4322 Inc.Balance Sheet Beginning BalanceEnding BalanceAssets Cash$ 128,000$ 139,000Accounts receivable331,000481,000Inventory567,000471,000Plant and equipment, net894,000869,000Investment in Tesla Inc.400,000428,000Land (undeveloped)246,000249,000Total assets$ 2,566,000$ 2,637,000Liabilities and Stockholders' Equity Accounts payable$ 382,000$ 341,000Long-term debt981,000981,000Stockholders' equity1,203,0001,315,000Total liabilities and stockholders' equity$ 2,566,000$ 2,637,000 JEY-4322 Inc.Income StatementSales $ 3,880,000Operating expenses 3,336,800Net operating income 543,200Interest and taxes: Interest expense$ 111,000 Tax expense197,000308,000Net income $ 235,200 JEY-4322 Inc. paid dividends of $123,200 last year. The “Investment in Tesla Inc.” item on the balance sheet represents an investment in the stock of another company. The company's minimum required rate of return is 15%. What was the company’s residual income…
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