numbers 4, 5, 6 only please TLC CampanyCompanatiie Statement of Comprehensitve IncomeFor Year 2015 and 201620162015Net Sales700,000900,000Less Cont of Goods Sold(100.000)600,000(80.000)820,000Gross ProfitLess Operuting ExpensesEarnings Before Interest and TaxenLess Interest ExpenseNet Income Before TaxLess Income Tax(50,000)(120,000)550,000700,000(10,000)(50,000)540,000(162,000)378,000650,000(195.000)Net Income455,000Ansuer on a separate sheet. Pad paper or any paper availabie in your hame.Write your NAME:FARM2/uectionDATEDeepen W7:M14-Fin TRationCompute the ration linted below for 2016 and tell if it is good or bad. Show solution.1. Working Capital2. Current Ratio13. Profit Margin Ratio14. Return on Assets15. Return on Equity16. Asset Turnover Ratio3. Quick/Acid Teat Ratio4. A/R Turnover Ratio5. Average Collection Period6. Iniventory Turmover Ratio7. Average Days in Inventory8. Number of Days in OC9. Debt to Total Assets Ratio10. Debt to Equity Ratio11. Times Interest EarnedRutio12. Gros Profit Ratio Comprehensive ProblemTLC Company wus eatablishied on January 1, 2015 and is enguged in themanufacture of farm toolu. The company makes une of 365 days in its computationfor some of the ratios. You will find below their eumparative SFP & SCI for two yearsTLC CompanyComparative Financial StatementFor Year 2015 and 201620162015AnsetaCashAccounts ReceivahleTrailing SecuritienInventaries400,000100,00020,000290,000120,00040,00060,00010,00080,000Prepaid Expenes20,00)Total Current Assets620,000520,000Tatal Non-Current Assets300,000200,000720,000Total Asseta920,000Liabilities18Total Current LiabilitiesTutal Non-Current LiahitiesOwner's Equity50,000450,000100,000350,000Total Owner's EquityTotal Liahilities and Owner's Equity420,000300,000920,000720,000

Ratio analysis is the one of the important technique of management accounting. Under this, various…

TLC Company Comparatiove Statement of Comprehensie Income For Year 2015 and 2016 2016 2015 Net Sales 700,000 900,000 Less Cont of Goods Sold (100,000) (80,000) Gross Profit 600,000 820,000 Less Operating Expenses Earnings Before Interest and Taxen Less Interest Expense (50,000) (120,000) 700,000 (50,000) 550,000 (10.000) Net Income Blefore Tax 540,000 650,000 Less Income TaN (162,000) (195,000) Net Income 378,000 455,000 Ansuer on a separate sheet. Pad paper or any paper avaiable in yyour hame. Write your NAME: FARM2/(estion DATE Despen W7:M14-Fin T Ratios Compute the ratios listed below for 2016 and tell if it is good ar bad. Show asolution. 1. Working Capital 2. Current Ratio 3. Quick/Acid Teat Ratio 4. A/R Turnover Ratio 5. Avernge Collection Period 6. Inventory Turmover Ratio 13. Profit Margin Ratio 14. Return on Assets 15. Return on Equity 16. Asset Turnover Ratio

TLC Company Comparatiove Statement of Comprehensie Income For Year 2015 and 2016 2016 2015 Net Sales 700,000 900,000 Less Cont of Goods Sold (100,000) (80,000) Gross Profit 600,000 820,000 Less Operating Expenses Earnings Before Interest and Taxen Less Interest Expense (50,000) (120,000) 700,000 (50,000) 550,000 (10.000) Net Income Blefore Tax 540,000 650,000 Less Income TaN (162,000) (195,000) Net Income 378,000 455,000 Ansuer on a separate sheet. Pad paper or any paper avaiable in yyour hame. Write your NAME: FARM2/(estion DATE Despen W7:M14-Fin T Ratios Compute the ratios listed below for 2016 and tell if it is good ar bad. Show asolution. 1. Working Capital 2. Current Ratio 3. Quick/Acid Teat Ratio 4. A/R Turnover Ratio 5. Avernge Collection Period 6. Inventory Turmover Ratio 13. Profit Margin Ratio 14. Return on Assets 15. Return on Equity 16. Asset Turnover Ratio

Cornerstones of Financial Accounting

4th Edition

ISBN:9781337690881

Author:Jay Rich, Jeff Jones

Publisher:Jay Rich, Jeff Jones

Chapter8: Current And Contingent Liabilities

Section: Chapter Questions

Problem 84.3C

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