Ratios Compared with Industry Averages Because you own the common stock of Phantom Corporation, a paper manufacturer, you decide to analyze the firm's performance for the most recent year. The following data are taken from the firm's latest annual repo Dec. 31, 2013 Dec. 31, 2012 $600,000 $552,000 Quick assets Inventory and prepaid expenses 372,000 312,000 Other assets 4,176.000 4,788,000 $5,760,000 Total Assets $5,040,000 Current liabilities $624,000 $540,000 10% Bonds payable 1,440,000 1,440,000 8% Preferred stock, $100 par value 480.000 480,000 Common stock, $10 par value 2,700,000 2,160,000 420,000 Retained earnings 516,000 Total Liabilities and Stockholders' Equity $5,760,000 $5,040,000 For 2013, net sales amount to $11,280,000, net income is $573,600, and preferred stock dividends paid are $38,400.
Ratios Compared with Industry Averages Because you own the common stock of Phantom Corporation, a paper manufacturer, you decide to analyze the firm's performance for the most recent year. The following data are taken from the firm's latest annual repo Dec. 31, 2013 Dec. 31, 2012 $600,000 $552,000 Quick assets Inventory and prepaid expenses 372,000 312,000 Other assets 4,176.000 4,788,000 $5,760,000 Total Assets $5,040,000 Current liabilities $624,000 $540,000 10% Bonds payable 1,440,000 1,440,000 8% Preferred stock, $100 par value 480.000 480,000 Common stock, $10 par value 2,700,000 2,160,000 420,000 Retained earnings 516,000 Total Liabilities and Stockholders' Equity $5,760,000 $5,040,000 For 2013, net sales amount to $11,280,000, net income is $573,600, and preferred stock dividends paid are $38,400.
Managerial Accounting
15th Edition
ISBN:9781337912020
Author:Carl Warren, Ph.d. Cma William B. Tayler
Publisher:Carl Warren, Ph.d. Cma William B. Tayler
Chapter16: Financial Statement Analysis
Section: Chapter Questions
Problem 4PB
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Cant find current and debt to equity ratio. When I round it to the second decimal point it says its wrong.
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