Note: please dont use excel and show ur solution. (NO NEED TO CONVERT INTO PERCENTAGE. TWO DECIMAL POINTS ONLY.)What is the Debt to equity ratio of GLOBE? Debt to equity ratio of GLOBE*STATEMENT OF FINANCIAL POSITION AND INCOME STATEMENT OF 3 COMIPANIES AS DECEMBER31, 2014JFCPetronGlobeAssets16, 75723, 543Cash7,61990, 602ReceivablesInventoriesOther current assets7,62117.9275,97253, 1803,1862,81057, 3203, 256Current Assets24, 022219,02946, 742PPEFinancial Investments13, 364153,650117, 2993, 4101,613451Other non-current assets13, 32317,03215,015Non-current Assets30, 097172, 295132, 765Total Assets54. 119391,324179,507JFCPetronGlobeLiabilitiesAccounts PayableIncome Tax PayableShort-tem debtOther current liabilities2, 45529, 49612, 458182731, 5871, 865133, 38814, 58939, 63046, 305Current Liabilities19,091202, 58760, 350Long-term debt4, 42866, 26959, 146Other non-current liabilities2, 5228, 7765. 47364, 619124, 969Non-current Liabilities6, 95075,045Total Liabilities26.041277,634JFCPetronGlobeEquityCapital Stock1, 0649, 4858, 429Additional Paid-CapitalRetained Earnings4,45219,65336,04922,64640, 81510, 852Other equity accounts(84)43, 739(792)Total Equity28,078113, 69254, 538Total Liabilities & Equity54, 119391,324179,507JFCPetronGlobeSales Revenue90,671482,535103,235Cost of Sales Service(73,728)(463,100)(10,661)Gross Margin16,94319,43592,574Operating Expenses(10,806)(11,830)(59,506)Operating Profit6,1377,60533,068Other Income7481.7361,255Other Expenses(126)(5.528)(14.940)Net Income before Tax6,7593,81319,383Income Tax(1.271)(804)(6,011)Net Income after Tax5,4883,00913,372

Debt to equity ratio = Total Debt/ Shareholders equity

Answered: please dont use excel and show ur…

please dont use excel and show ur solution. (NO NEED TO CONVERT INTO PERCENTAGE. TWO DECIMAL POINTS ONLY.) What is the Debt to equity ratio of GLOBE?

Cornerstones of Financial Accounting

4th Edition

ISBN:9781337690881

Author:Jay Rich, Jeff Jones

Publisher:Jay Rich, Jeff Jones

Chapter12: Fainancial Statement Analysis

Section: Chapter Questions

Problem 79E

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Question

Note: please dont use excel and show ur solution. (NO NEED TO CONVERT INTO PERCENTAGE. TWO DECIMAL POINTS ONLY.) What is the Debt to equity ratio of GLOBE?

Debt to equity ratio of GLOBE
*
STATEMENT OF FINANCIAL POSITION AND INCOME STATEMENT OF 3 COMIPANIES AS DECEMBER
31, 2014
JFC
Petron
Globe
Assets
16, 757
23, 543
Cash
7,619
90, 602
Receivables
Inventories
Other current assets
7,621
17.927
5,972
53, 180
3,186
2,810
57, 320
3, 256
Current Assets
24, 022
219,029
46, 742
PPE
Financial Investments
13, 364
153,650
117, 299
3, 410
1,613
451
Other non-current assets
13, 323
17,032
15,015
Non-current Assets
30, 097
172, 295
132, 765
Total Assets
54. 119
391,324
179,507
JFC
Petron
Globe
Liabilities
Accounts Payable
Income Tax Payable
Short-tem debt
Other current liabilities
2, 455
29, 496
12, 458
182
73
1, 587
1, 865
133, 388
14, 589
39, 630
46, 305
Current Liabilities
19,091
202, 587
60, 350
Long-term debt
4, 428
66, 269
59, 146
Other non-current liabilities
2, 522
8, 776
5. 473
64, 619
124, 969
Non-current Liabilities
6, 950
75,045
Total Liabilities
26.041
277,634
JFC
Petron
Globe
Equity
Capital Stock
1, 064
9, 485
8, 429
Additional Paid-Capital
Retained Earnings
4,452
19,653
36,049
22,646
40, 815
10, 852
Other equity accounts
(84)
43, 739
(792)
Total Equity
28,078
113, 692
54, 538
Total Liabilities & Equity
54, 119
391,324
179,507
JFC
Petron
Globe
Sales Revenue
90,671
482,535
103,235
Cost of Sales Service
(73,728)
(463,100)
(10,661)
Gross Margin
16,943
19,435
92,574
Operating Expenses
(10,806)
(11,830)
(59,506)
Operating Profit
6,137
7,605
33,068
Other Income
748
1.736
1,255
Other Expenses
(126)
(5.528)
(14.940)
Net Income before Tax
6,759
3,813
19,383
Income Tax
(1.271)
(804)
(6,011)
Net Income after Tax
5,488
3,009
13,372

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