I need help for the following problems Alpha company has the following comparative balance sheet data:Alpha CompanyBalance SheetsDecember 3120202019Cash40,00050,00065,0001,65,0003,20,00020,000Accounts receivable (net)70,000InventoryPlant assets (Net)60,0002,00,0003,50,00062,00098,000Accounts payableMortgage payable (6%)Common stock, $10 perRetained earnings53,000102,0001,45,00050,0001,20,00040,0003,50,0003,20,000Additional information for 2020:Net income was $45,0002. Sales on account were $450,000. Sales returns and allowances were 350,0003. Cost of goods sold was $218,000.Requirements: Compute the following ratios at December 31, 2020(a) Current Ratio (b) Inventory Turnover Ratio (c) Debt to Equity Ratio (d) Profit Margin (e) Return onAssets.

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Alpha company has the following comparative balance sheet data: Alpha Company Balance Sheets December 31 2020 Cash 20,000 Accounts receivable (net) Inventory Plant assets (Net) 70,000 60,000 2,00,000 3,50,000 Accounts payable Mortgage payable (6%) Common stock, $10 per Retained earnings 53,000 102,000 1,45,000 50,000 3,50,000 Additional information for 2020: 1. Net income was $45,000 2. Sales on account were $450,000. Sales returns and allowances were 3. Cost of goods sold was $218,000. Requirements: Compute the following ratios at December 31, 2020 (a) Current Ratio (b) Inventory Turnover Ratio (c) Debt to Equity Ratio (

Alpha company has the following comparative balance sheet data: Alpha Company Balance Sheets December 31 2020 Cash 20,000 Accounts receivable (net) Inventory Plant assets (Net) 70,000 60,000 2,00,000 3,50,000 Accounts payable Mortgage payable (6%) Common stock, $10 per Retained earnings 53,000 102,000 1,45,000 50,000 3,50,000 Additional information for 2020: 1. Net income was $45,000 2. Sales on account were $450,000. Sales returns and allowances were 3. Cost of goods sold was $218,000. Requirements: Compute the following ratios at December 31, 2020 (a) Current Ratio (b) Inventory Turnover Ratio (c) Debt to Equity Ratio (

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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