The following select information is taken from Blueberry Pie Corp.'s statements of financial position at December 31, 2019 and 2020, and their income statement for calendar 2020: 2020 2019 Assets: Cash. $ 18,000 25,000 38,000 61,000 6,000 49,000 130,000 33,000 55,000 $ 415,000 $ 2,000 -0- 42,000 52,000 9,000 20,000 130,000 33,000 55,000 $ 363,000 Short Term investments. Accounts receivable.. Inventory... Prepaid insurance. Long-term investments. Equipment (net). Land.. Goodwill. Total assets.. $ 62,250 305,000 123,000. Net income.. Sales (all on credit). Cost of goods sold.. Interest expense. Income tax expense. Tax rate = 28% 15,600 17,450 ......... Instructions From the above information, calculate the following ratios for2020, rounding to I decimal place

The following select information is taken from Blueberry Pie Corp.'s statements of financial position at December 31, 2019 and 2020, and their income statement for calendar 2020: 2020 2019 Assets: Cash. $ 18,000 25,000 38,000 61,000 6,000 49,000 130,000 33,000 55,000 $ 415,000 $ 2,000 -0- 42,000 52,000 9,000 20,000 130,000 33,000 55,000 $ 363,000 Short Term investments. Accounts receivable.. Inventory... Prepaid insurance. Long-term investments. Equipment (net). Land.. Goodwill. Total assets.. $ 62,250 305,000 123,000. Net income.. Sales (all on credit). Cost of goods sold.. Interest expense. Income tax expense. Tax rate = 28% 15,600 17,450 ......... Instructions From the above information, calculate the following ratios for2020, rounding to I decimal place

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 15E

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