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1 Required: 2 Compute the following liquidity ratios for 2016. Round to the 3 required number of decimal places USING THE EXCEL. 4 ROUND FUNCTION (fx). Current ratio (rounded to one decimal place) to 1 times Receivables turnover (rounded to two decimal places) Days to collect (rounded to the nearest whole day) Inventory turnover (rounded to two decimal places) Days to sell (rounded to the nearest whole day) days times days 1 Compute the following Solvency Ratios for 2016. Again, USE 2 THE EXCEL ROUND FUNCTION (fx). to 1 Debt to assets (rounded to two decimal places) Times interest earned (rounded to one decimal place) times 3 Compute the following Profitability Ratios for 2016. Again, USE 7 THE EXCEL ROUND FUNCTION (fx). Net profit margin (rounded to one decimal place) percent

1 Required: 2 Compute the following liquidity ratios for 2016. Round to the 3 required number of decimal places USING THE EXCEL. 4 ROUND FUNCTION (fx). Current ratio (rounded to one decimal place) to 1 times Receivables turnover (rounded to two decimal places) Days to collect (rounded to the nearest whole day) Inventory turnover (rounded to two decimal places) Days to sell (rounded to the nearest whole day) days times days 1 Compute the following Solvency Ratios for 2016. Again, USE 2 THE EXCEL ROUND FUNCTION (fx). to 1 Debt to assets (rounded to two decimal places) Times interest earned (rounded to one decimal place) times 3 Compute the following Profitability Ratios for 2016. Again, USE 7 THE EXCEL ROUND FUNCTION (fx). Net profit margin (rounded to one decimal place) percent

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Calculate Select Ratios - Excel FILE НOМE INSERT PAGE LAYOUT FORMULAS DATA REVIEW VIEW Sign In Calibri 11 A A % Paste в I U Alignment Number Conditional Format as Cell Cells Editing Formatting Table Styles Clipboard Font Styles A1 fe Condensed financial statements for Games Galore are summarized below: А D 26 Interest Expense 14,500 27 Income before Income Tax Expense 176,100 28 Income Tax Expense 47,000 29 Net Income $ 129,100 30 31 Required: 32 Compute the following liquidity ratios for 2016. Round to the 33 required number of decimal places USING THE EXCEL. 34 ROUND FUNCTION (fx). Current ratio (rounded to one decimal place) Receivables turnover (rounded to two decimal places) Days to collect (rounded to the nearest whole day) Inventory turnover (rounded to two decimal places) Days to sell (rounded to the nearest whole day) 35 to 1 36 times 37 |days 38 times 39 days 40 41 Compute the following Solvency Ratios for 2016. Again, USE 42 THE EXCEL ROUND FUNCTION (fx). 43 Debt to assets (rounded to two decimal places) to 1 Times interest earned (rounded to one decimal place) 44 times 45 46 Compute the following Profitability Ratios for 2016. Again, USE 47 THE EXCEL ROUND FUNCTION (fx). 48 Net profit margin (rounded to one decimal place) percent Gross nrofit nercentage (rounded to one decimal nlace) Inercent 40
Transcribed Image Text:Calculate Select Ratios - Excel FILE НOМE INSERT PAGE LAYOUT FORMULAS DATA REVIEW VIEW Sign In Calibri 11 A A % Paste в I U Alignment Number Conditional Format as Cell Cells Editing Formatting Table Styles Clipboard Font Styles A1 fe Condensed financial statements for Games Galore are summarized below: А D 26 Interest Expense 14,500 27 Income before Income Tax Expense 176,100 28 Income Tax Expense 47,000 29 Net Income $ 129,100 30 31 Required: 32 Compute the following liquidity ratios for 2016. Round to the 33 required number of decimal places USING THE EXCEL. 34 ROUND FUNCTION (fx). Current ratio (rounded to one decimal place) Receivables turnover (rounded to two decimal places) Days to collect (rounded to the nearest whole day) Inventory turnover (rounded to two decimal places) Days to sell (rounded to the nearest whole day) 35 to 1 36 times 37 |days 38 times 39 days 40 41 Compute the following Solvency Ratios for 2016. Again, USE 42 THE EXCEL ROUND FUNCTION (fx). 43 Debt to assets (rounded to two decimal places) to 1 Times interest earned (rounded to one decimal place) 44 times 45 46 Compute the following Profitability Ratios for 2016. Again, USE 47 THE EXCEL ROUND FUNCTION (fx). 48 Net profit margin (rounded to one decimal place) percent Gross nrofit nercentage (rounded to one decimal nlace) Inercent 40
Calculate Select Ratios - Excel ? GJ Sign In FILE HOME INSERT PAGE LAYOUT FORMULAS DATA REVIEW VIEW Calibri 11 A A % Paste В I U Alignment Number Conditional Format as Cell Cells Editing Formatting Table Styles Clipboard Font Styles A1 fe Condensed financial statements for Games Galore are summarized below: A D 3 Balance Sheet 2016 2015 4 Cash $ 185,000 $ 143,000 5 Accounts Receivable, Net 80,000 59,000 6 Inventory 104,000 134,000 7 Prepaid Insurance 11,900 5,880 8 Total Current Assets 380,900 341,880 9 Property and Equipment, Net 514,500 407,000 10 Total Assets $ 895,400 $ 748,880 11 12 Current Liabilities $ 85,300 $ 96,800 13 Long-term Liabilities 284,000 224,000 14 Total Liabilities 369,300 320,800 15 Contributed Capital 16 Retained Earnings Total Stockholders' Equity 299,000 299,000 227,100 129,080 17 526,100 428,080 18 Total Liabilities and Stockholders' Equity 895,400 $ 748,880 19 20 Income Statement 21 Net Sales (all on account) $ 3,031,000 1,949,000 1,082,000 22 Cost of Goods Sold 23 Gross Profit 24 Operating Expenses 25 Income from Operations 891,400 190,600
Transcribed Image Text:Calculate Select Ratios - Excel ? GJ Sign In FILE HOME INSERT PAGE LAYOUT FORMULAS DATA REVIEW VIEW Calibri 11 A A % Paste В I U Alignment Number Conditional Format as Cell Cells Editing Formatting Table Styles Clipboard Font Styles A1 fe Condensed financial statements for Games Galore are summarized below: A D 3 Balance Sheet 2016 2015 4 Cash $ 185,000 $ 143,000 5 Accounts Receivable, Net 80,000 59,000 6 Inventory 104,000 134,000 7 Prepaid Insurance 11,900 5,880 8 Total Current Assets 380,900 341,880 9 Property and Equipment, Net 514,500 407,000 10 Total Assets $ 895,400 $ 748,880 11 12 Current Liabilities $ 85,300 $ 96,800 13 Long-term Liabilities 284,000 224,000 14 Total Liabilities 369,300 320,800 15 Contributed Capital 16 Retained Earnings Total Stockholders' Equity 299,000 299,000 227,100 129,080 17 526,100 428,080 18 Total Liabilities and Stockholders' Equity 895,400 $ 748,880 19 20 Income Statement 21 Net Sales (all on account) $ 3,031,000 1,949,000 1,082,000 22 Cost of Goods Sold 23 Gross Profit 24 Operating Expenses 25 Income from Operations 891,400 190,600
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