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Less: Cost of Goods Sold Less: Administrative Expenses Less: Depreciation Earnings Before Interest and Taxes Less: Interest Expense Taxable Income Less: Texas Net Income RBL Paving Company Income Statement for Year Ending December 31, 2021 Dividends Addition to Retained Earnings a. Return on equity b. Total assets turnover C. Return on assets d. Current ratio e. 3,400,000 2,700,000 700,000 682,000 (682,000) 120,000 (802,000) (280,000) (522,000) Required: Evaluate the performance of RBL Paving Company using the below ratios. Define each ratio, perform the calculation, and provide an explanation of the result. Receivables turnover 0 (522,000) Analysis of Financial Statements There was a bit of concern about one of RBL's newer entities - RBL Paving Company. Management wants you to review the two financial statements below and give your analysis of the company's performance. Current Assets: Cash Assets Accounts Receivable Inventory Total Current Assets Fixed Assets: Property, Plant & Equipment Less: Accumulated Depreciation Net Fixed Assets Total Assets RBL Paving Company Liabilities 200,000 300,000 800,000 1,300,000 2,200,000 600,000 1,600,000 2,900,000 Current Liabilities: Accounts Payable Notes Payable Total Current Liabilities Owner's Equity: Common Stock ($1 Par) Capital Surplus Retained Earnings Total Owners' Equity Total Liabilities and Owners' Equity 700,000 600,000 1,300,000 600,000 100,000 100,000 800,000 2,900,000

Less: Cost of Goods Sold Less: Administrative Expenses Less: Depreciation Earnings Before Interest and Taxes Less: Interest Expense Taxable Income Less: Texas Net Income RBL Paving Company Income Statement for Year Ending December 31, 2021 Dividends Addition to Retained Earnings a. Return on equity b. Total assets turnover C. Return on assets d. Current ratio e. 3,400,000 2,700,000 700,000 682,000 (682,000) 120,000 (802,000) (280,000) (522,000) Required: Evaluate the performance of RBL Paving Company using the below ratios. Define each ratio, perform the calculation, and provide an explanation of the result. Receivables turnover 0 (522,000) Analysis of Financial Statements There was a bit of concern about one of RBL's newer entities - RBL Paving Company. Management wants you to review the two financial statements below and give your analysis of the company's performance. Current Assets: Cash Assets Accounts Receivable Inventory Total Current Assets Fixed Assets: Property, Plant & Equipment Less: Accumulated Depreciation Net Fixed Assets Total Assets RBL Paving Company Liabilities 200,000 300,000 800,000 1,300,000 2,200,000 600,000 1,600,000 2,900,000 Current Liabilities: Accounts Payable Notes Payable Total Current Liabilities Owner's Equity: Common Stock ($1 Par) Capital Surplus Retained Earnings Total Owners' Equity Total Liabilities and Owners' Equity 700,000 600,000 1,300,000 600,000 100,000 100,000 800,000 2,900,000

FINANCIAL ACCOUNTING
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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Less: Cost of Goods Sold Less: Administrative Expenses Less: Depreciation Earnings Before Interest and Taxes Less: Interest Expense Taxable Income Less: Texas Net Income RBL Paving Company Income Statement for Year Ending December 31, 2021 Dividends Addition to Retained Earnings a. Return on equity b. Total assets turnover C. Return on assets d. Current ratio e. 3,400,000 2,700,000 700,000 682,000 (682,000) 120,000 (802,000) (280,000) (522,000) Required: Evaluate the performance of RBL Paving Company using the below ratios. Define each ratio, perform the calculation, and provide an explanation of the result. Receivables turnover 0 (522,000)
Transcribed Image Text:Less: Cost of Goods Sold Less: Administrative Expenses Less: Depreciation Earnings Before Interest and Taxes Less: Interest Expense Taxable Income Less: Texas Net Income RBL Paving Company Income Statement for Year Ending December 31, 2021 Dividends Addition to Retained Earnings a. Return on equity b. Total assets turnover C. Return on assets d. Current ratio e. 3,400,000 2,700,000 700,000 682,000 (682,000) 120,000 (802,000) (280,000) (522,000) Required: Evaluate the performance of RBL Paving Company using the below ratios. Define each ratio, perform the calculation, and provide an explanation of the result. Receivables turnover 0 (522,000)
Analysis of Financial Statements There was a bit of concern about one of RBL's newer entities - RBL Paving Company. Management wants you to review the two financial statements below and give your analysis of the company's performance. Current Assets: Cash Assets Accounts Receivable Inventory Total Current Assets Fixed Assets: Property, Plant & Equipment Less: Accumulated Depreciation Net Fixed Assets Total Assets RBL Paving Company Liabilities 200,000 300,000 800,000 1,300,000 2,200,000 600,000 1,600,000 2,900,000 Current Liabilities: Accounts Payable Notes Payable Total Current Liabilities Owner's Equity: Common Stock ($1 Par) Capital Surplus Retained Earnings Total Owners' Equity Total Liabilities and Owners' Equity 700,000 600,000 1,300,000 600,000 100,000 100,000 800,000 2,900,000
Transcribed Image Text:Analysis of Financial Statements There was a bit of concern about one of RBL's newer entities - RBL Paving Company. Management wants you to review the two financial statements below and give your analysis of the company's performance. Current Assets: Cash Assets Accounts Receivable Inventory Total Current Assets Fixed Assets: Property, Plant & Equipment Less: Accumulated Depreciation Net Fixed Assets Total Assets RBL Paving Company Liabilities 200,000 300,000 800,000 1,300,000 2,200,000 600,000 1,600,000 2,900,000 Current Liabilities: Accounts Payable Notes Payable Total Current Liabilities Owner's Equity: Common Stock ($1 Par) Capital Surplus Retained Earnings Total Owners' Equity Total Liabilities and Owners' Equity 700,000 600,000 1,300,000 600,000 100,000 100,000 800,000 2,900,000
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