Complete the 2006 Balance Sheet for O'Keefe Industries using the information that follows it. O'Keefe Industries Balance Sheet December 31, 2012 Assets Liabilities and Stockholders' Equity Cash $32,720 Accounts payable Notes payable $120,000 Marketable securities 2.5,000 Accounts receivable Accruals 20,000 Inventories Total current liabilities Long-term debt Stockholders' equity Total current assets Net fixed assets $600,000 Total assets Total liabilities and stockholders' equity S The following financial data for 2012 are also available: 1. Sales totaled $1,800,000. 2. The gross profit margin was 25%. 3. Inventory turnover was 6.0. 4. There are 365 days in the year. 5. The average collection period was 40 days. 6. The current ratio was 1.60. 7. The total asset turnover ratio was 1.20. 8. The debt ratio was 60%.

Complete the 2006 Balance Sheet for O'Keefe Industries using the information that follows it. O'Keefe Industries Balance Sheet December 31, 2012 Assets Liabilities and Stockholders' Equity Cash $32,720 Accounts payable Notes payable $120,000 Marketable securities 2.5,000 Accounts receivable Accruals 20,000 Inventories Total current liabilities Long-term debt Stockholders' equity Total current assets Net fixed assets $600,000 Total assets Total liabilities and stockholders' equity S The following financial data for 2012 are also available: 1. Sales totaled $1,800,000. 2. The gross profit margin was 25%. 3. Inventory turnover was 6.0. 4. There are 365 days in the year. 5. The average collection period was 40 days. 6. The current ratio was 1.60. 7. The total asset turnover ratio was 1.20. 8. The debt ratio was 60%.

Essentials Of Investments

11th Edition

ISBN:9781260013924

Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.

Publisher:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.

Chapter1: Investments: Background And Issues

Section: Chapter Questions

Problem 1PS

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Based on the financial statements below, what is the current ratio and quick ratio?
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