The following infornation relates to Hodge Unlimited for the past two years. Account Net sales (all credit) Cost of goods sold Gross profit Income from operations Interest expense Net income Cash Accounts receivable, net Inventory Prepaid expenses Total current assets Total long - term assets Total current liabilities Total long- term liabilities Common stock, no par, 2,500 shares, market value $96 per share Retained earnings The current ratio for the current year is closest to Current year $219,000 S125,000 $94,000 $32,000 $2,000 S25,000 $75,000 $26.000 $65,000 $2,000 $168,000 $162,750 $110,000 $22,000 $40,000 $158,750 Prior year $180,000 $110,000 $70,000 $30,000 $7,000 $18.000 S17,000 $35,000 $60,000 $1,000 $113,000 $187,751 S90,000 $78,000 $40,000 $92,751 A. 1.53. B. 2.24. C. 1.29. D. 1.51.
The following infornation relates to Hodge Unlimited for the past two years. Account Net sales (all credit) Cost of goods sold Gross profit Income from operations Interest expense Net income Cash Accounts receivable, net Inventory Prepaid expenses Total current assets Total long - term assets Total current liabilities Total long- term liabilities Common stock, no par, 2,500 shares, market value $96 per share Retained earnings The current ratio for the current year is closest to Current year $219,000 S125,000 $94,000 $32,000 $2,000 S25,000 $75,000 $26.000 $65,000 $2,000 $168,000 $162,750 $110,000 $22,000 $40,000 $158,750 Prior year $180,000 $110,000 $70,000 $30,000 $7,000 $18.000 S17,000 $35,000 $60,000 $1,000 $113,000 $187,751 S90,000 $78,000 $40,000 $92,751 A. 1.53. B. 2.24. C. 1.29. D. 1.51.
Intermediate Accounting: Reporting And Analysis
3rd Edition
ISBN:9781337788281
Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Chapter5: The Income Statement And The Statement Of Cash Flows
Section: Chapter Questions
Problem 1RE: Brandt Corporation had sales revenue of 500,000 for the current year. For the year, its cost of...
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The following infornation relates to Hodge Unlimited for the past two years.
Account
Net sales (all credit)
Cost of goods sold
Gross profit
Income from operations
Interest expense
Net income
Cash
Accounts receivable, net
Inventory
Prepaid expenses
Total current assets
Total long - term assets
Total current liabilities
Total long- term liabilities
Common stock, no par,
2,500 shares, market value $96 per share
The
Current year
$219,000
S125,000
$94,000
$32,000
$2,000
S25,000
$75,000
$26.000
$65,000
$2,000
$168,000
$162,750
$110,000
$22,000
$40,000
$158,750
Prior year
$180,000
$110,000
$70,000
$30,000
$7,000
$18.000
S17,000
$35,000
$60,000
$1,000
$113,000
$187,751
S90,000
$78,000
$40,000
$92,751
A. 1.53.
B. 2.24.
C. 1.29.
D. 1.51.
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