Q1 Consider the given income statement and balance sheet and calculate the following ratios :
Return on Assets Return on Equity - Debt Ratio
- Current Ratio
- Write your comment about each of the ratios calculated what it describes.
Following are the Financial Statements of CSU CORPORATION for the year ended Dec. 31, 2020
Assets : 2019
Cash $1400
Accounts Receivable 4000
Supplies 1800
Equipment 16000
Total Assets $23,200
Liabilities and Shareholders’ Equity :
Liabilities :
Notes Payable $5000
Accounts Payable 2000
Common Stock 10000
$23,200
Income Statement
Revenues $10600
Expenses $5200
Supplies expenses 1500
Rent Expense 900
Insurance Expense 50
Interest Expense 50
Net Income $2860
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