CS/380 Ratio CalculationsSelect the images below to enlarge.Balance SheetMurawski CompanyBalance SheetDecember 31Current AssetsInvestmentsCash and cash equivalentsAccounts receivable (net)Property, plant, and equipmentIntangibles and other assetsTotal assetsCurrent liabilitiesInventoryPrepaid expensesTotal current assetsLong-term liabilitiesStockholder's equity - commonTotal liabilities and stockholder's equitySales RevenueMurawski CompanyIncome StatementFor the Years Ended December 31Income StatementCosts and expensesCost of goods soldSelling and Administrative expensesInterest expenseTotal costs and expensesIncome before income taxes2022Income tax expenseNet Income$3304704601201,38010420530$2,340$9004102022$3,8009552,400253,3802021420126$294$3604003901601,3101,0301,040$2,340 $2,21010380510$2,210$7903802021$3,4608902,330203,24022066$154KCalculate the 2022 Current Ratio.Use whole numbers rounded to 2 decimalplaces, if needed, as seen in the examplebelow.1500÷Example·I.800Current Ratio 2022= 1.88=Click the check mark to check your answers.Fields with incorrect responses will beremoved so you can try again.

Current ratio is a liquidity ratio which is trying to calculate the ratio between current assets and…

Select the in iges below to enlarge. Balance Sheet Murawski Company Balance Sheet December 31 Current Assets Investments Cash and cash equivalents Accounts receivable (net) Property, plant, and equipment Intangibles and other assets Total assets Current liabilities Inventory Prepaid expenses Total current assets Sales Revenue Murawski Company Income Statement For the Years Ended December 31 Costs and expenses Income Statement $790 Long-term liabilities 380 Stockholder's equity-common 1,030 1,040 Total liabilities and stockholder's equity $2.340 $2,210 Cost of goods sold Selling and Administrative expenses Interest expense Total costs and expenses 2022 Income before income taxes Income tax expense Net Income $330 470 460 120 1,380 10 10 420 380 530 510 $2,340 $2,210 2022 $900 410 $3,800 2021 955 2,400 25 3,380 $360 400 390 160 1,310 420 126 $294 2021 $3,460 890 2,330 20 3,240 220 66 $154 Calculate the 2022 Current Ratio. Use whole numbers rounded to 2 decimal places, if needed, as seen in the example below. 1500 Example 800 Current Ratio 2022 ÷ 1.88 Click the check mark to check your answers. Fields with incorrect responses will be removed so you can try again.

Select the in iges below to enlarge. Balance Sheet Murawski Company Balance Sheet December 31 Current Assets Investments Cash and cash equivalents Accounts receivable (net) Property, plant, and equipment Intangibles and other assets Total assets Current liabilities Inventory Prepaid expenses Total current assets Sales Revenue Murawski Company Income Statement For the Years Ended December 31 Costs and expenses Income Statement $790 Long-term liabilities 380 Stockholder's equity-common 1,030 1,040 Total liabilities and stockholder's equity $2.340 $2,210 Cost of goods sold Selling and Administrative expenses Interest expense Total costs and expenses 2022 Income before income taxes Income tax expense Net Income $330 470 460 120 1,380 10 10 420 380 530 510 $2,340 $2,210 2022 $900 410 $3,800 2021 955 2,400 25 3,380 $360 400 390 160 1,310 420 126 $294 2021 $3,460 890 2,330 20 3,240 220 66 $154 Calculate the 2022 Current Ratio. Use whole numbers rounded to 2 decimal places, if needed, as seen in the example below. 1500 Example 800 Current Ratio 2022 ÷ 1.88 Click the check mark to check your answers. Fields with incorrect responses will be removed so you can try again.

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 4E

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