Eagle Corp. operates majestic resonance imaging (MRI) clinics throughout the Northeast. At the end of the current period, the company reports the following amounts: Assets $50,000 Liabilities $27,000 Dividends $3,000 Revenues $14,000 Expenses $9,000 Required: 1. Calculate the net income. 2. Calculate the stockholders' equity at the end of the period.

Eagle Corp. operates majestic resonance imaging (MRI) clinics throughout the Northeast. At the end of the current period, the company reports the following amounts: Assets $50,000 Liabilities $27,000 Dividends $3,000 Revenues $14,000 Expenses $9,000 Required: 1. Calculate the net income. 2. Calculate the stockholders' equity at the end of the period.

Managerial Accounting: The Cornerstone of Business Decision-Making

7th Edition

ISBN:9781337115773

Author:Maryanne M. Mowen, Don R. Hansen, Dan L. Heitger

Publisher:Maryanne M. Mowen, Don R. Hansen, Dan L. Heitger

Chapter15: Financial Statement Analysis

Section: Chapter Questions

Problem 50E: Juroe Company provided the following income statement for last year: Juroes balance sheet as of...

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The following data are taken from the balance sheet at the end of the current year. Determine the (a) working capital, (b) current ratio, and (c) quick/acid-test ratio. Present figures used in your computations. Round ratios to the nearest tenth. Accounts payable $145,000 Accounts receivable 110,000 Accrued liabilities 4,000 Cash 80,000 Income tax payable 10,000 Inventory 140,000 Marketable securities 250,000 Notes payable, short-term 85,000 Prepaid expenses 15,000 ANSWERS: (a) (b) (c)
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Juroe Company provided the following income statement for last year: Juroes balance sheet as of December 31 last year showed total liabilities of 10,250,000, total equity of 6,150,000, and total assets of 16,400,000. Required: Note: Round answers to two decimal places. 1. Calculate the times-interest-earned ratio. 2. Calculate the debt ratio. 3. Calculate the debt-to-equity ratio.
Rebert Inc. showed the following balances for last year: Reberts net income for last year was 3,182,000. Refer to the information for Rebert Inc. above. Required: 1. Calculate the average common stockholders equity. 2. Calculate the return on stockholders equity.
Pritchett Company reported the following year-end data: Cash $ 15,000 Short-term investments 5,000 Accounts receivable (current) 8,000 Inventory 20,000 Prepaid (current) assets 6,000 Total current liabilities 20,000 Compute the (a) current ratio and (b) acid-test ratio. Compute the current ratio. Current Ratio Numerator: / Denominator: = Current Ratio / = Current ratio / = to 1 Compute the acid-test ratio. Acid-Test Ratio Numerator: / Denominator: = Acid-Test Ratio + + / = Acid-test ratio + + / = to 1
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