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Blue Water Prime Fish Balance sheet: $ 41, 200 39,000 $ 20, 800 Cash Accounts receivable (net) Inventory Property & equipment (net) 31,600 98,eee 143,000 41, 200 403,400 84, 200 $ 405,400 $ 98,eee 66,400 Other assets 307,000 $ 804,000 $ 52,000 60,400 Total assets Current liabilities Long-term debt (interest rate: 10%) Capital stock ($10 par value) Additional paid-in capital Retained earnings Total liabilities and stockholders' equity 149,400 514,000 29,200 62,400 $ 405,400 106, 200 71,400 $ 804,000 Income statement: Sales revenue (1/3 on credit) Cost of goods sold Operating expenses $ 444,000 (240,000) (161,400) $ 42,600 $ B00, 000 (400, 200) (311,200) 88, 600 Net income Other data: Per share stock price at end of current year Average income tax rate Dividends declared and paid in current year 22.2 17 30% $ 33,200 $ 149,000 Both companies are in the fish catching and manufacturing business. Both have been in business approximately 10 years, and each has had steady growth. The management of each has a different viewpoint in many respects. Blue Water is more conservative, and as its president has said, "We avoid what we consider to be undue risk." Neither company is publicly held. Required: 1. Complete a schedule that reflects a ratio analysis of each company. (Round your intermediate calculations and final answers to 2 decimal places. Enter percentage answers rounded to 2 decimal places (i.e. 0.1234 should be entered as 12.34).) BLUE WATER PRIME FISH Ratio COMPANY COMPANY Profitability ratios: 1. Return on equity % % 2 Return on assets % % 3. Gross profit percentage %

Blue Water Prime Fish Balance sheet: $ 41, 200 39,000 $ 20, 800 Cash Accounts receivable (net) Inventory Property & equipment (net) 31,600 98,eee 143,000 41, 200 403,400 84, 200 $ 405,400 $ 98,eee 66,400 Other assets 307,000 $ 804,000 $ 52,000 60,400 Total assets Current liabilities Long-term debt (interest rate: 10%) Capital stock ($10 par value) Additional paid-in capital Retained earnings Total liabilities and stockholders' equity 149,400 514,000 29,200 62,400 $ 405,400 106, 200 71,400 $ 804,000 Income statement: Sales revenue (1/3 on credit) Cost of goods sold Operating expenses $ 444,000 (240,000) (161,400) $ 42,600 $ B00, 000 (400, 200) (311,200) 88, 600 Net income Other data: Per share stock price at end of current year Average income tax rate Dividends declared and paid in current year 22.2 17 30% $ 33,200 $ 149,000 Both companies are in the fish catching and manufacturing business. Both have been in business approximately 10 years, and each has had steady growth. The management of each has a different viewpoint in many respects. Blue Water is more conservative, and as its president has said, "We avoid what we consider to be undue risk." Neither company is publicly held. Required: 1. Complete a schedule that reflects a ratio analysis of each company. (Round your intermediate calculations and final answers to 2 decimal places. Enter percentage answers rounded to 2 decimal places (i.e. 0.1234 should be entered as 12.34).) BLUE WATER PRIME FISH Ratio COMPANY COMPANY Profitability ratios: 1. Return on equity % % 2 Return on assets % % 3. Gross profit percentage %

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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Blue Water Prime Fish Balance sheet: $ 41,200 $ 20,800 Cash Accounts receivable (net) Inventory Property & equipment (net) 39,000 31,600 98,eee 143,000 41,200 403,400 84, 200 $ 405,400 $ 98,eee 66,400 Other assets 307,000 $ 804,000 $ 52,000 60,400 Total assets Current liabilities Long-term debt (interest rate: 10%) Capital stock ($10 par value) Additional paid-in capital Retained carnings 149,400 29, 200 62,400 $ 405,400 514,000 106, 200 71,400 $ 804,000 Total liabilities and stockholders' equity Income statement: Sales revenue (1/3 on credit) Cost of goods sold Оperating exхрenses Net income $ 444,eee (240,000) (161,400) $ 42,600 $ B00, 000 (400, 200) (311,200) $ 88,600 Other data: Per share stock price at end of current year Average income tax rate Dividends declered and paid in current year 22.2 17 30% $ 33,200 $ 149,000 Both companies are in the fish catching and manufacturing business. Both have been in business approximately 10 years, and each has had steady growth. The management of each has a different viewpoint in many respects. Blue Water is more conservative, and as its president has said, "We avoid what we consider to be undue risk." Neither company is publicly held. Required: 1. Complete a schedule that reflects a ratio analysis of each company. (Round your intermediate calculations and final answers to 2 decimal places. Enter percentage answers rounded to 2 decimal places (i.e. 0.1234 should be entered as 12.34).) BLUE WATER COMPANY PRIME FISH COMPANY Ratio Profitability ratios: 1. Return on equity % % 2. Return on assets % 3. Gross profit percentage % 4. Net profit margin 5. Earnings per share 6. Quality of income Asset turnover ratios: 7. Total asset tumover 8. Fixed asset turnover 9. Receivable turnover 10. Inventory turnover Liquidity ratios 11. Current ratio 12. Quick ratio 13. Cash ratio Solvency ratios: 14. Times interest eamed ratio 15. Cash coverage ratio 16. Debtequity ratio Market ratios: 17. Pricelearnings ratio 18. Dividend yield ratio % %
Transcribed Image Text:Blue Water Prime Fish Balance sheet: $ 41,200 $ 20,800 Cash Accounts receivable (net) Inventory Property & equipment (net) 39,000 31,600 98,eee 143,000 41,200 403,400 84, 200 $ 405,400 $ 98,eee 66,400 Other assets 307,000 $ 804,000 $ 52,000 60,400 Total assets Current liabilities Long-term debt (interest rate: 10%) Capital stock ($10 par value) Additional paid-in capital Retained carnings 149,400 29, 200 62,400 $ 405,400 514,000 106, 200 71,400 $ 804,000 Total liabilities and stockholders' equity Income statement: Sales revenue (1/3 on credit) Cost of goods sold Оperating exхрenses Net income $ 444,eee (240,000) (161,400) $ 42,600 $ B00, 000 (400, 200) (311,200) $ 88,600 Other data: Per share stock price at end of current year Average income tax rate Dividends declered and paid in current year 22.2 17 30% $ 33,200 $ 149,000 Both companies are in the fish catching and manufacturing business. Both have been in business approximately 10 years, and each has had steady growth. The management of each has a different viewpoint in many respects. Blue Water is more conservative, and as its president has said, "We avoid what we consider to be undue risk." Neither company is publicly held. Required: 1. Complete a schedule that reflects a ratio analysis of each company. (Round your intermediate calculations and final answers to 2 decimal places. Enter percentage answers rounded to 2 decimal places (i.e. 0.1234 should be entered as 12.34).) BLUE WATER COMPANY PRIME FISH COMPANY Ratio Profitability ratios: 1. Return on equity % % 2. Return on assets % 3. Gross profit percentage % 4. Net profit margin 5. Earnings per share 6. Quality of income Asset turnover ratios: 7. Total asset tumover 8. Fixed asset turnover 9. Receivable turnover 10. Inventory turnover Liquidity ratios 11. Current ratio 12. Quick ratio 13. Cash ratio Solvency ratios: 14. Times interest eamed ratio 15. Cash coverage ratio 16. Debtequity ratio Market ratios: 17. Pricelearnings ratio 18. Dividend yield ratio % %
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