RATIO CORPORATION BALANCE SHEET December 31 ASSETS 2021 2020 Current Assets Cash $20,000 $18,000 8,000 30,000 4,000 $80,000 $10,000 $13,000 5,000 25,000 5,000 $58,000 Marketable Securities Accounts Receivable Merchandise Inventory Other Current Assets Total Current Assets Noncurrent Assets Buildings and Equipment (cost) $550,000 (210,000) $340,000 $420,000 $500,000 (200,000) $300,000 $358,000 Accumulated Depreciation Buildings and Equipment (net) TOTAL ASSETS LIABILITIES & SHAREHOLDERS EQUITY Current Liabilities Accounts Payable Wages Payable Other Payables $18,000 11,000 9,000 $38,000 $15,000 1,000 12,000 $28,000 Total Current Liabilities Noncurrent Liabilities Bonds Payable $208,000 $246,000 $160,000 $188,000 TOTAL LIABILITIES
Q: Financial Statements of Melon Corporation for 2020 and 2019 are provided below: Statement of…
A: Loss on sale of equipment = Book value of equipment - Sale proceeds = 108,000 - 90,000 = 18,000…
Q: Information for Patel Corporation is given below: Patel Corporation Balance Sheet December 31, 2021…
A: Hi student Since there are multiple subparts, we will answer only first three subparts.
Q: The financial statements of Kingbird Company appear below: KINGBIRD COMPANY Comparative Balance…
A: Disclaimer: “Since you have posted a question with multiple sub-parts, we will solve the first three…
Q: Consider the following balance-sheet entries for Delta Corporation: (a) Compute the following for…
A: (1) Calculation of Current assets: Current assets refer to those assets which can be converted into…
Q: Income Statement for the years ending 31 August: 2020…
A: “Since you have posted a question with multiple sub-parts, we will solve first three subparts for…
Q: Calliope Corporation Balance Sheets ASSETS: Dec. 31, 2020 Dec. 31, 2019 Cash $ 340,000 $ 180,000…
A: “Since you have posted a question with multiple sub-parts, we will solve first three sub-parts for…
Q: Patel Corporation Balance Sheet December 31, 2021 $ 630,000 189,000 275,000 1,875,000 Cash $…
A: “Since you have posted a question with multiple sub-parts, we will solve first three sub-parts from…
Q: 2018 Current assets $84,650 25,000 60, 000 Cash $26,800 32, еее 54,100 Accounts receivable Inventory…
A: Solution: Cash flow statement is the statement which represents the flows of cash transactions…
Q: A comparative balance sheet for Talkington Corporation is presented below. Assets Cash Accounts…
A: To calculate net cash flow from operating , investing and financing activities we prepare cash flow…
Q: Accounting. Please help
A: Calculate statement of retained earnings:
Q: NEALON INC. Condensed Balance Sheets December 31 Increase or (Decrease) 2022 2021 Amount Percentage…
A: Introduction Horizontal analysis is the scrutiny of financial data across time, it allows comparison…
Q: How does the owner finance the business in terms of debt and equity?
A: Capital structure refers to the blend that is used by an organization to finance its overall…
Q: The following data are taken from the records of Alee Company. December 31,2020 December…
A: Statement of cash flows:This statement reports all the cash transactions which are responsible for…
Q: Balance Sheet December 31, 2020 LIABILITIES AND SHAREHOLDER'S ASSETS EQUITY Current assets Current…
A: Ratio analysis is the analysis made on the basis of balance sheet and income statements of the…
Q: Pharoah Corporation’s comparative balance sheet is presented below. PHAROAH CORPORATION Balance…
A: Cash flow statement provided information about the cash inflows and cash outflows of the company.…
Q: PLASMA SCREENS CORPORATION Balance Sheets December 31, 2021 and 2020 2021 2020 Assets Current…
A: Ratio analysis is an important technique which helps investors to analyze company's performance in…
Q: Hassan Corporation’s comparative balance sheets are presented below. HASSAN CORPORATION…
A: This statement shows the liquidity position of one company.
Q: Excerpts from TPX Company's December 31, 2021 and 2020, financial statements are presented below:…
A: The debt to equity ratio is calculated as ratio of total debt and total stockholder equity
Q: Sign Language Hearing Co Ltd Comparative Balance Sheet October 31, 2020, and 2021…
A:
Q: Sharpe Company Comparative Balance Sheet Accounts As of December, 31 Debit Balances 2020 2019…
A: Cash flow statement: Cash Flow is a financial statement showing the movement of cash within the…
Q: Presented below are the financial statements of Cullumber Company. Cullumber Company Comparative…
A: Statement of cash flows is one of the financial statement of the business. This shows all cash…
Q: Prepaid Expenses 9,000.00 Total Current Assets…
A: Accounts reccivables ratio here will be calculated on the basis of average reccivables. Accounts…
Q: BALANCE SHEET, YEAR-END, 2019 Assets Liabilities Current assets Current liabilities Accounts payable…
A: Financing is the process of providing funds for Business Activities, making purchases, or investing.
Q: Al-Itihad Corporation Balance Sheet December 31, 2019 Assets Liability & Equity Current…
A: Since we only answer up to 3 sub-parts, we’ll answer the first 3. Please resubmit the question and…
Q: Problem 1 The balance sheet of Kangaroo Company as of December 31 is presented below:. 2019 P 45,000…
A: SOLUTION- BOOK VALUE PER SHARE IS THE RATIO OF EQUITY AVAILABLE TO COMMON SHAREHOLDERS DIVIDED BY…
Q: Arlington Corporation's financial statements (dollars and shares are in millions) are provided here.…
A: Working Capital: Working capital represents the capital required to finance the daily expenses of…
Q: CASE ANALYSIS Case 1: Gardner Corporation For December 31, 2019, the balance sheet of the Gardner…
A: Financial statements shows the summaries for costs and revenues, assets, equities and liabilities,…
Q: a. Prepare a statement of cash flows for 2019 for Stiller Corporation. b. Calculate the company’s…
A:
Q: Condensed balance sheet and income statement data for Pina Corporation are presented here. PINA…
A: As posted multiple sub parts we are answering only first three kindly repost the unanswered…
Q: Condensed financial data of Drake Company appear below: DRAKE COMPANY Comparative Balance Sheet…
A: Cash Flow Statement is a fundamental financial statement that renders valuable information regarding…
Q: Balance Sheet D&G Co. December 31, 2019 Assets Cash $ 1,000 Accounts Receivable 8,900 4,350 $14,250…
A: Ratio is the analysis tool which define the relationship between items of income statement and…
Q: Income Statement for the years ending 31 August: 2020…
A: Since you have posted a question with multiple sub-parts, we will solve the first three subparts for…
Q: BT21 Co. provided the following data: 2021 2020 Cash P 350,000 840,000 P150,000 Accounts Receivable,…
A: Cash flows from operating activities: It is a section of Statement of cash flow that explains the…
Q: 32. Refer to Bellingham Incorporated's December 31, 2019 Balance Sheet shown below. Bellingham…
A: Retained earnings balance on December 31, 2018 = Retained earnings balance on December 31, 2019 -…
Q: Presented below are data taken from the records of Sheffield Company. December 31, 2020…
A: The cash flow statement is prepared to estimate the amount of cash outflow or inclow during the…
Q: The Murdock Corporation reported the following balance sheet data for 2021 and 2020: 2021…
A: The cash flow statement shows the cash inflow and cash outflow that includes the operating activity,…
Q: The following comparative balance sheets 2019 & 2020 and additional information for "National…
A: The cash flow statement is prepared to record the cash flow from various activities during the…
Q: Presented below are data taken from the records of Sheffield Company. December 31, 2020…
A: Cash Flow Statement: A cash flow statement is the part financial statement that shows how much cash…
Q: Al-Itihad Corporation Balance Sheet December 31, 2019 Assets Liability & Equity…
A:
Q: Sign Language Hearing Co Ltd Comparative Balance Sheet October 31, 2020, and 2021 2021 2020…
A: Cash flow statement is a statement which is prepared to find out the cash comes in and goes out , by…
Q: Indigo Corporation Indigo Corporation Balance Sheets December 31 Income Statements For the Years…
A: As you have not mentioned the specific ratios that are to be answered, we are providing you only…
Q: XYZ Inc's comparative balance sheets are presented below. XYZ Inc. Comparative Balance Sheets…
A: The cash flow statement is prepared to determine the cash position of the business and it also…
Q: 6. As of December 31, 2020, V CorporatIon reported the fol Php 240,000 520,000 350,000 3,000,000…
A: Balance Sheet: An accounting statement that indicates the financial status of a company at the year…
Q: Corporation XYZ Income Satement For the year that ends in December 31, 2022 Sales $ 660,000 Cost of…
A: Note: Hi! Thank you for the question, As per the honor code, we are allowed to answer three…
Q: Excerpts from TPX Company's December 31, 2021 and 2020, financial statements are presented below:…
A: Ratio analysis is an analysis tool used to compute the profitability, efficiency and liquidity of…
Q: Kaminsky Ltd Statement of Financial Position As at December 31, 2020 2020 2019 Assets $ 24,700 S…
A:
Q: Bamboo Company reported the following statement of financial position at year-end: 2020 2019 Cash…
A: The cash flow statement is prepared to record the cash flow from various activities during the…
Q: .Presented below are the financial statements of KJ Electronics KJ Electronics Inc. Comparative…
A: “Since you have posted a question with multiple sub-parts, we will solve first three subparts for…
Q: CORONADO COMPANY Statement of Cash Flows
A: Assets 2022 2021 Cash 37,500 19,100 Accounts Receivable 33,000 20,000 Inventory 30,700 20,200…
What is Ratio Corporation's Quick Ratio at 12/31/2021?
|
2.11 |
|
1.21 |
|
2.22 |
|
None of these options |
Step by step
Solved in 2 steps
- Swifty Corporation’s comparative balance sheets are presented below. SWIFTY CORPORATIONBalance SheetsDecember 3120222021Cash$12,500 $6,100 Accounts receivable18,400 26,600 Inventory13,200 10,200 Land34,200 30,200 Building76,200 76,200 Accumulated depreciation(17,200) (14,200)Total137,300 135,100 Accounts payable19,500 33,300 Common stock ($5 par)74,500 74,500 Retained earnings43,300 27,300 Total137,300 135,100 Swifty’s 2022 income statement included net sales of $122,000, cost of goods sold of $82,000, and net income of $31,000. Compute the following ratios for 2022. (Round Debt to total assets ratio to 1 decimal place, e.g 1.8 and all percentage and days answers to 0 decimal places, e.g 18 or 25% and all other answers to 2 decimal places, e.g. 1.83) (a)Current ratioenter the ratio rounded to 2 decimal places (b)Acid-test ratioenter the ratio rounded to 2 decimal places…Swifty Corporation’s comparative balance sheets are presented below. SWIFTY CORPORATIONBalance SheetsDecember 3120222021Cash$12,500 $6,100 Accounts receivable18,400 26,600 Inventory13,200 10,200 Land34,200 30,200 Building76,200 76,200 Accumulated depreciation(17,200) (14,200)Total137,300 135,100 Accounts payable19,500 33,300 Common stock ($5 par)74,500 74,500 Retained earnings43,300 27,300 Total137,300 135,100 Swifty’s 2022 income statement included net sales of $122,000, cost of goods sold of $82,000, and net income of $31,000. Compute the following ratios for 2022. (Round Debt to total assets ratio to 1 decimal place, e.g 1.8 and all percentage and days answers to 0 decimal places, e.g 18 or 25% and all other answers to 2 decimal places, e.g. 1.83) Inventory turnoverenter the number rounded to 2 decimal places Days in inventoryenter the number of days rounded to 0 decimal…Swifty Corporation’s comparative balance sheets are presented below. SWIFTY CORPORATIONBalance SheetsDecember 3120222021Cash$12,500 $6,100 Accounts receivable18,400 26,600 Inventory13,200 10,200 Land34,200 30,200 Building76,200 76,200 Accumulated depreciation(17,200) (14,200)Total137,300 135,100 Accounts payable19,500 33,300 Common stock ($5 par)74,500 74,500 Retained earnings43,300 27,300 Total137,300 135,100 Swifty’s 2022 income statement included net sales of $122,000, cost of goods sold of $82,000, and net income of $31,000. Compute the following ratios for 2022. (Round Debt to total assets ratio to 1 decimal place, e.g 1.8 and all percentage and days answers to 0 decimal places, e.g 18 or 25% and all other answers to 2 decimal places, e.g. 1.83)
- Swifty Corporation’s comparative balance sheets are presented below. SWIFTY CORPORATIONBalance SheetsDecember 3120222021Cash$12,500 $6,100 Accounts receivable18,400 26,600 Inventory13,200 10,200 Land34,200 30,200 Building76,200 76,200 Accumulated depreciation(17,200) (14,200)Total137,300 135,100 Accounts payable19,500 33,300 Common stock ($5 par)74,500 74,500 Retained earnings43,300 27,300 Total137,300 135,100 Swifty’s 2022 income statement included net sales of $122,000, cost of goods sold of $82,000, and net income of $31,000. Compute the following ratios for 2022. (Round Debt to total assets ratio to 1 decimal place, e.g 1.8 and all percentage and days answers to 0 decimal places, e.g 18 or 25% and all other answers to 2 decimal places, e.g. 1.83) (a)Current ratioenter the ratio rounded to 2 decimal placesSwifty Corporation’s comparative balance sheets are presented below. SWIFTY CORPORATIONBalance SheetsDecember 3120222021Cash$12,500 $6,100 Accounts receivable18,400 26,600 Inventory13,200 10,200 Land34,200 30,200 Building76,200 76,200 Accumulated depreciation(17,200) (14,200)Total137,300 135,100 Accounts payable19,500 33,300 Common stock ($5 par)74,500 74,500 Retained earnings43,300 27,300 Total137,300 135,100 Swifty’s 2022 income statement included net sales of $122,000, cost of goods sold of $82,000, and net income of $31,000. Compute the following ratios for 2022. (Round Debt to total assets ratio to 1 decimal place, e.g 1.8 and all percentage and days answers to 0 decimal places, e.g 18 or 25% and all other answers to 2 decimal places, e.g. 1.83) Inventory turnoverenter the number rounded to 2 decimal places Days in inventoryenter the number of days rounded to 0 decimal…Swifty Corporation’s comparative balance sheets are presented below. SWIFTY CORPORATIONBalance SheetsDecember 3120222021Cash$12,500 $6,100 Accounts receivable18,400 26,600 Inventory13,200 10,200 Land34,200 30,200 Building76,200 76,200 Accumulated depreciation(17,200) (14,200)Total137,300 135,100 Accounts payable19,500 33,300 Common stock ($5 par)74,500 74,500 Retained earnings43,300 27,300 Total137,300 135,100 Swifty’s 2022 income statement included net sales of $122,000, cost of goods sold of $82,000, and net income of $31,000. Compute the following ratios for 2022. (Round Debt to total assets ratio to 1 decimal place, e.g 1.8 and all percentage and days answers to 0 decimal places, e.g 18 or 25% and all other answers to 2 decimal places, e.g. 1.83) (i)Earnings per share$enter a dollar amount rounded to 2 decimal places (j)Payout ratioenter percentages rounded to 0 decimal…
- Swifty Corporation’s comparative balance sheets are presented below. SWIFTY CORPORATIONBalance SheetsDecember 3120222021Cash$12,500 $6,100 Accounts receivable18,400 26,600 Inventory13,200 10,200 Land34,200 30,200 Building76,200 76,200 Accumulated depreciation(17,200) (14,200)Total137,300 135,100 Accounts payable19,500 33,300 Common stock ($5 par)74,500 74,500 Retained earnings43,300 27,300 Total137,300 135,100 Swifty’s 2022 income statement included net sales of $122,000, cost of goods sold of $82,000, and net income of $31,000. Compute the following ratios for 2022. (Round Debt to total assets ratio to 1 decimal place, e.g 1.8 and all percentage and days answers to 0 decimal places, e.g 18 or 25% and all other answers to 2 decimal places, e.g. 1.83) Asset turnoverenter the number rounded to 2 decimal places (g)Return on assetsenter percentages rounded to 0 decimal places…Xyz tradingCondensed comparative balance sheet 2021 2020 2019Assets:Current assets 468,000. 345,600. 300,000Property and equipment 600,000. 560,400. 500,400Other assets(advances ). 72,000. 126,000. 150,000Total assets. 1,140,000. 1,032,000. 950,400Liabilities and stockholders’ equityLiabilitiesCurrent liabilities 134,400. 112,800. 100,00012 % long-term notes payable. 240,000. 300,000 350,000Total liabilities. 374,400. 412,800. 450,000Stockholders’ equity10% preferred stock 120,000. 120,000. 120,000Common stock 300,000 240,000 200,000Additional paid in capital 84,000. 48,000 40,000Retained earnings…CONCORD INC.Comparative Balance SheetsDecember 31 Assets 2022 2021 Cash $80,500 $48,700 Accounts receivable 87,900 38,600 Inventory 111,900 102,100 Prepaid expenses 29,400 27,900 Long-term investments 139,800 113,700 Plant assets 284,200 241,900 Accumulated depreciation (47,700) (49,100) Total $686,000 $523,800 Liabilities and Stockholders’ Equity Accounts payable $106,000 $63,700 Accrued expenses payable 16,500 21,200 Bonds payable 117,100 149,500 Common stock 219,000 175,100 Retained earnings 227,400 114,300 Total $686,000 $523,800 CONCORD INC.Income StatementFor the Year Ended December 31, 2022 Sales revenue $382,500 Less: Cost of goods sold $135,600 Operating expenses, excluding…
- SNIDER CORPORATIONBalance SheetDecember 31, 20X1 Assets Current assets: Cash $ 52,200 Marketable securities 24,400 Accounts receivable (net) 222,000 Inventory 238,000 Total current assets $ 536,600 Investments 65,900 Plant and equipment. $615,000 Less: Accumulated depreciation 271,000 Net plant and equipment 344,000 Total assets $ 946,500 Liabilities and Stockholders' Equity Current liabilities: Accounts payable $ 93,400 Notes payable 70,600 Accrued taxes 17,000 Total current liabilities $ 181,000 Long-term liabilities: Bonds payable 153,200 Total liabilities $ 334,200 Stockholders' equity Preferred stock, $50 par value $ 100,000 Common stock, $1 par value 80,000 Capital paid in excess of par 190,000 Retained earnings 242,300 Total stockholders' equity $ 612,300 Total liabilities and stockholders' equity $ 946,500…Question Content Area Debt Management Ratios Financial statements for Steele Inc. follow. Steele Inc. Consolidated Income Statements (in thousands except per share amounts) 2023 2022 2021 Net sales $7,245,088 $6,944,296 $6,149,218 Cost of goods sold (5,286,253) (4,953,556) (4,355,675) Gross margin $1,958,835 $1,990,740 $1,793,543 General and administrative expenses (1,259,896) (1,202,042) (1,080,843) Special and nonrecurring items 2,617 0 0 Operating income $701,556 $788,698 $712,700 Interest expense (63,685) (62,398) (63,927) Other income 7,308 10,080 11,529 Gain on sale of investments 0 9,117 0 Income before income taxes $645,179 $745,497 $660,302 Provision for income taxes (254,000) (290,000) (257,000) Net income $391,179 $455,497 $403,302 Steele Inc. Consolidated Balance Sheets (in thousands) ASSETS Dec. 31, 2023 Dec. 31, 2022 Current assets: Cash and…Current Attempt in Progress XYZ provided the following financial information: XYZBalance SheetAs of 12/31/19 Assets: Liabilities and Equity: Cash and marketable securities $27,476 Accounts payable and accruals $154,860 Accounts receivable $143,519 Short-term notes payable $21,255 Inventory $212,379 Total current liabilities $176,115 Total current assets $383,374 Long term debt $155,510 Net plant and equipment $602,704 Total liabilities $331,625 Goodwill and other assets $42,422 Common stock $312,719 Retained earnings $384,156 Total assets $1,028,500 Total liabilities and equity $1,028,500 In addition, it was reported that the firm had a net income of: $158,402 and net sales of: $4,272,431 Calculate the following ratios for this firm (Use 365 days for calculation. Round answers to 2 decimal places, e.g.…