The Fisher Apparel Company balance sheet for the year ended Year 1 is as follows: December 31, Year 1 (in Thousands of Dollars)       Assets       Cash   $4,450   Marketable securities   2,600   Accounts receivable   24,090   Inventories   44,685   Plant and equipment $70,650     Less: Accumulated depreciation 15,700     Net plant and equipment   54,950     Total assets   $130,775 Liabilities and Stockholders’ Equity     Accounts payable   $16,584   Current portion of long-term debt   5,000   Accrued wages   800   Accrued taxes   2,400   Other current liabilities   1,800   Long-term debt   31,000   Common stock ($15 par)   25,500   Capital contributed in excess of par   21,500   Retained earnings   26,191     Total liabilities and stockholders’ equity   $130,775         What is Fisher’s investment in current assets? Round your answer to the nearest whole number. Enter your answer in thousands. For example, an answer of $1.20 thousand should be entered as 1.20, not 1,200. $   thousand Determine Fisher’s working capital investment. Round your answer to the nearest whole number. Enter your answer in thousands. For example, an answer of $1.20 thousand should be entered as 1.20, not 1,200. $   thousand Determine Fisher’s current ratio. Round your answer to two decimal places.      Determine Fisher’s return on stockholders’ equity if its Year 1 earnings after tax are $9,000(000). Round your answer to two decimal places.   %

FINANCIAL ACCOUNTING
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ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
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The Fisher Apparel Company balance sheet for the year ended Year 1 is as follows:

December 31, Year 1
(in Thousands of Dollars)
     
Assets    
  Cash   $4,450
  Marketable securities   2,600
  Accounts receivable   24,090
  Inventories   44,685
  Plant and equipment $70,650  
  Less: Accumulated depreciation 15,700  
  Net plant and equipment   54,950
    Total assets   $130,775
Liabilities and Stockholders’ Equity  
  Accounts payable   $16,584
  Current portion of long-term debt   5,000
  Accrued wages   800
  Accrued taxes   2,400
  Other current liabilities   1,800
  Long-term debt   31,000
  Common stock ($15 par)   25,500
  Capital contributed in excess of par   21,500
  Retained earnings   26,191
    Total liabilities and stockholders’ equity   $130,775
     

 

  1. What is Fisher’s investment in current assets? Round your answer to the nearest whole number. Enter your answer in thousands. For example, an answer of $1.20 thousand should be entered as 1.20, not 1,200.

    $   thousand

  2. Determine Fisher’s working capital investment. Round your answer to the nearest whole number. Enter your answer in thousands. For example, an answer of $1.20 thousand should be entered as 1.20, not 1,200.

    $   thousand

  3. Determine Fisher’s current ratio. Round your answer to two decimal places.

        

  4. Determine Fisher’s return on stockholders’ equity if its Year 1 earnings after tax are $9,000(000). Round your answer to two decimal places.

      %

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  1. Determine Fisher’s return on stockholders’ equity if its Year 1 earnings after tax are $9,000(000). Round your answer to two decimal places.

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