ABC Coffee 2018 and 2019 Balance Sheet 20182019 20182019 ASSETS LIABILITIES Cash $2,060$2,510 Account Payable$7,250$5,613Accounts Receivable$3,411$4,288 Long Term Debt$9,800$10,965Inventory $18,776$22,980 Total Current Assets$24,247$29,778 Total Liabilities$17,050$16,578 EQUITY Common Stock$15,000$16,000Net Fixed Assets$14,160$15,500 Retained Earnings$6,357$12,700 TOTAL EQUITIES$21,357$28,700TOTAL ASSETS$38,407$45,278 TOTAL LIA & EQUITIES$38,407$45,278 Please do the ratios for year 2019 a.current ratio h.Debt equity ratio b. quick ratio i.Times Interest earned c.Cash Ratio j.Cash Coverage Ratio d.Total Assets Turnover k.Profit Margin e.Inventory Turnover l.return on Assets f.Receivable Turnover m.return on Equity g.Total debt Ratio

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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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		ABC Coffee
		2018 and 2019 Balance Sheet
		2018	2019				2018	2019
	ASSETS				LIABILITIES
Cash		$2,060	$2,510		Account Payable	$7,250	$5,613
Accounts Receivable	$3,411	$4,288		Long Term Debt	$9,800	$10,965
Inventory		$18,776	$22,980
Total Current Assets	$24,247	$29,778		Total Liabilities	$17,050	$16,578
					EQUITY
					Common Stock	$15,000	$16,000
Net Fixed Assets	$14,160	$15,500		Retained Earnings	$6,357	$12,700
					TOTAL EQUITIES	$21,357	$28,700
TOTAL ASSETS	$38,407	$45,278		TOTAL LIA & EQUITIES	$38,407	$45,278

Please do the ratios for year 2019
a.	current ratio			h.	Debt equity ratio
b.	quick ratio			i.	Times Interest earned
c.	Cash Ratio			j.	Cash Coverage Ratio
d.	Total Assets Turnover		k.	Profit Margin
e.	Inventory Turnover		l.	return on Assets
f.	Receivable Turnover		m.	return on Equity
g.	Total debt Ratio

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