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
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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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
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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
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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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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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