Compute the net income or net loss for the month ended on March 31, 2008, from the following data: Assets on March 1, 2008 $ 40,000 Liabilities on March 1, 2008, 30,000 Capital on March 31, 2008, 15,000 Additional investments by the owner during the year 2008 2,000 Withdrawals during the year 2008 1,000 A. $3,000 B. $4,000 C. $5,000 D. $6,000
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- 6Please solve and find Solvency ratio: Net Income-$54,711 Depreciation- 18, 752 Short Term Liabilities-$105,392 Long Term Liabilities- $258,549The following information is from Lacy's Inc. $ millions Prior Fiscal Year Current Fiscal Year Net Year-End Assets Revenue Income $21,330 14,403 $18,955 $1,070 a. Compute the asset turnover ratio for the current fiscal year. b. Compute the return on assets ratio for the current fiscal year. Numerator a. Asset Turnover Ratio $ Check b. Return on Assets Ratio $ Numerator Denominator / $ Denominator / $ || Result Result
- Pritchett Company reported the following year-end data: Cash Short-term investments Accounts receivable (current) Inventory Prepaid (current) assets Total current 1iabilities $ 20, 100 8, 500 13,400 24, 000 6,800 28, 000 Compute the (a) current ratio and ( acid-test ratio. Complete this question by entering your answers in the tabs below. Currlat Ratio Acid Test Ratio Compute the current ratio. Current Ratio Current Ratio Numerator: Denominator: Current assets Current liabilities Current ratio 72.800 %24 28,000 2.6 to 1 %3 Acid Test Ratio>Assume Metro Corporation had a net income of $2,200 for the year ending December 31. Its beginning and ending total assets were $35,500 and $19,000, respectively. Calculate Metro's return on assets (ROA). (Round your percentage answer to two decimal places.) A. 11.58% B. 4.04% C. 8.07% D. 6.20%The Butler-Huron Company’s balance sheet and income statement for last year are as follows:Balance Sheet (in Millions of Dollars) Assets Liabilities and Equity Cash and marketable securities $142 Accounts payable*** $808Accounts receivable* 941 Accrued liabilities Inventories** 1,607 (salaries and benefits) 508Other current assets 35 Other current liabilities 534Total current assets $2,725 Total current liabilities $1,850Plant and equipment (net) 3,029 Long-term debt and other Other assets 5,796 liabilities 2,228Total assets $5,796…
- 19. Using the following information, calculate the return on assets. Net income for November Total assets, November 1 5,000 76,000 Total assets, November 30 80,250 ... Identify the formula and then solve for return on assets (ROA). (Round the ROA to the nearest tenth percent, X.X%.) ÷ ROA %Given the following, calculate total current assets. Prepaid insurance=$300Long-term investments=$1,200Cash=$540Prepaid Rent=$2,050Inventory=$640Plant assets, at cost=$16,800Accounts receivable=$5,900Accumulated depreciation=$6,600Calculate the following for Co. XYZ: c. Average collection period (365 days) d. Times interest earned Assets: Cash and marketable securities $400,000Accounts receivable 1,415,000Inventories 1,847,500Prepaid expenses 24,000Total current assets $3,686,500Fixed assets 2,800,000Less: accumulated depreciation 1,087,500Net fixed assets $1,712,500Total assets $5,399,000Liabilities: Accounts payable $600,000Notes payable 875,000Accrued taxes Total current liabilities $1,567,000Long-term debt 900,000Owner's equity Total liabilities and owner's equity Co. XYZ Income Statement: Net sales (all credit) $6,375,000Less: Cost of goods sold 4,375,000Selling and administrative expense 1,000,500Depreciation expense 135,000Interest expense Earnings before taxes $765,000Income taxes Net income Common stock dividends $230,000Change in retained earnings
- 19. Using the following information, calculate the return on assets. Net income for November Total assets, November 1 Total assets, November 30 $ Identify the formula and then solve for return on assets (ROA). (Round the ROA to the nearest tenth percent, X.X%.) ROA + 4,710 55,000 102,000 + = %The income statement disclosed the following items for the year: Depreciation expense $53,200 Gain on disposal of equipment 31,010 Net income 419,900 The changes in the current asset and liability accounts for the year are as follows: Increase (Decrease) Accounts receivable $8,280 Inventory (4,710) Prepaid insurance (1,770) Accounts payable (5,610) Income taxes payable 1,770 Dividends payable 1,240 a. Prepare the Cash Flows from Operating Activities section of the statement of cash flows, using the indirect method. Use the minus sign to indicate cash out flows, cash payments, decreases in cash, or any negative adjustments.Please help me with show all calculation thanku