A recent balance sheet of Sweet Tooth, Ic., included the following items, among others. (Dollar amounts are stated in thousands.) Cash Marketable securities (short-term) Accounts receivable Inventories Prepaid expenses Retained earnings Notes payable to banks (due within one year) Accounts payable Dividends payable Accrued liabilities (short-term) Income taxes payable $ 50,230 55,926 23,553 32,210 5,736 121,477 20,000 5,912 1,560 21,532 6,438 The company also reported total assets of $353,816 thousand, total liabilities of $81,630 thousand, and a return on total assets of 18.1 percent. Required: a. Compute Sweet Tooth's (1) quick assets, (2) current assets, and (3) current liabilities. b. Compute Sweet Tooth's (1) quick ratio, (2) current ratio, (3) working capital, and (4) debt ratio. (Round ratios to 1 decimal place.)

A recent balance sheet of Sweet Tooth, Ic., included the following items, among others. (Dollar amounts are stated in thousands.) Cash Marketable securities (short-term) Accounts receivable Inventories Prepaid expenses Retained earnings Notes payable to banks (due within one year) Accounts payable Dividends payable Accrued liabilities (short-term) Income taxes payable $ 50,230 55,926 23,553 32,210 5,736 121,477 20,000 5,912 1,560 21,532 6,438 The company also reported total assets of $353,816 thousand, total liabilities of $81,630 thousand, and a return on total assets of 18.1 percent. Required: a. Compute Sweet Tooth's (1) quick assets, (2) current assets, and (3) current liabilities. b. Compute Sweet Tooth's (1) quick ratio, (2) current ratio, (3) working capital, and (4) debt ratio. (Round ratios to 1 decimal place.)

Managerial Accounting: The Cornerstone of Business Decision-Making

7th Edition

ISBN:9781337115773

Author:Maryanne M. Mowen, Don R. Hansen, Dan L. Heitger

Publisher:Maryanne M. Mowen, Don R. Hansen, Dan L. Heitger

Chapter15: Financial Statement Analysis

Section: Chapter Questions

Problem 50E: Juroe Company provided the following income statement for last year: Juroes balance sheet as of...

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