Year Ended 30-Sept-19 30-Sept-20 30-Sept-21 Assets ($) Current Assets Cash And Cash Equivalents 6,714,000 4,851,000 15,982,000 Short Term Investments 27,447,000 32,900,000 44,610,000 Net Receivables 11,256,000 8,881,000 7,987,000 Inventory 1,478,000 491,000 421,000 Other Current Assets 2,115,000 1,614,000 1,566,000 Total Current Assets 49,010,000 48,737,000 70,566,000 Long Term Investments 9,232,000 11,004,000 12,210,000 Property Plant and Equipment 3,044,000 2,346,000 12,326,000 Goodwill 3,866,000 3,309,000 3,115,000 Intangible Assets 539,000 499,000 569,000 Accumulated Amortization Other Assets 3,906,000 4,920,000 3,603,000 Total Assets 69,597,000 70,815,000 102,389,000
Year Ended 30-Sept-19 30-Sept-20 30-Sept-21 Assets ($) Current Assets Cash And Cash Equivalents 6,714,000 4,851,000 15,982,000 Short Term Investments 27,447,000 32,900,000 44,610,000 Net Receivables 11,256,000 8,881,000 7,987,000 Inventory 1,478,000 491,000 421,000 Other Current Assets 2,115,000 1,614,000 1,566,000 Total Current Assets 49,010,000 48,737,000 70,566,000 Long Term Investments 9,232,000 11,004,000 12,210,000 Property Plant and Equipment 3,044,000 2,346,000 12,326,000 Goodwill 3,866,000 3,309,000 3,115,000 Intangible Assets 539,000 499,000 569,000 Accumulated Amortization Other Assets 3,906,000 4,920,000 3,603,000 Total Assets 69,597,000 70,815,000 102,389,000
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
Related questions
Question
You are a Corporate Credit Analyst for your bank. A new corporate customer in the manufacturing sector approached your bank for a large credit facility in the sum of $20 million for production equipment and warehousing. The customer submitted the following financials to you.
The cash position increased from $6.7 million in 2019 to $16 million in 2021. Does this signal a strengthening of the liquidity position of the firm? Explain.
Transcribed Image Text:Year Ended
30-Sept-19
30-Sept-20
30-Sept-21
Assets ($)
Current Assets
Cash And Cash Equivalents
6,714,000
4,851,000
15,982,000
Short Term Investments
27,447,000
32,900,000
44,610,000
Net Receivables
11,256,000
8,881,000
7,987,000
Inventory
1,478,000
491,000
421,000
Other Current Assets
2,115,000
1,614,000
1,566,000
Total Current Assets
49,010,000
48,737,000
70,566,000
Long Term Investments
9,232,000
11,004,000
12,210,000
Property Plant and Equipment
3,044,000
2,346,000
12,326,000
Goodwill
3,866,000
3,309,000
3,115,000
Intangible Assets
539,000
499,000
569,000
Accumulated Amortization
Other Assets
3,906,000
4,920,000
3,603,000
Total Assets
69,597,000
70,815,000
102,389,000
Expert Solution
This question has been solved!
Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.
Step by step
Solved in 2 steps
Knowledge Booster
Learn more about
Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, accounting and related others by exploring similar questions and additional content below.Recommended textbooks for you
Accounting
Accounting
ISBN:
9781337272094
Author:
WARREN, Carl S., Reeve, James M., Duchac, Jonathan E.
Publisher:
Cengage Learning,
Accounting Information Systems
Accounting
ISBN:
9781337619202
Author:
Hall, James A.
Publisher:
Cengage Learning,
Accounting
Accounting
ISBN:
9781337272094
Author:
WARREN, Carl S., Reeve, James M., Duchac, Jonathan E.
Publisher:
Cengage Learning,
Accounting Information Systems
Accounting
ISBN:
9781337619202
Author:
Hall, James A.
Publisher:
Cengage Learning,
Horngren's Cost Accounting: A Managerial Emphasis…
Accounting
ISBN:
9780134475585
Author:
Srikant M. Datar, Madhav V. Rajan
Publisher:
PEARSON
Intermediate Accounting
Accounting
ISBN:
9781259722660
Author:
J. David Spiceland, Mark W. Nelson, Wayne M Thomas
Publisher:
McGraw-Hill Education
Financial and Managerial Accounting
Accounting
ISBN:
9781259726705
Author:
John J Wild, Ken W. Shaw, Barbara Chiappetta Fundamental Accounting Principles
Publisher:
McGraw-Hill Education