I'm stuck with my assignment. It would be a big help if you could help me thank you so much! Lisa Inc.'s balance sheet appears below:Lisa Inc.Statement of Financial PositionDecember 31(in thousands)Year 2Year 1Cash$ 30$ 25Marketable securities2015Accounts receivable (net)4530Inventories....Prepaid expensesTotal current assetsLandBuilding (net)Equipment (net)..Total long-term assetsTotal assets50201401256015170155809095330$500100315$455$ 47152385$ 28Accounts payableAccrued interestShort-term notes payable151255Total current liabilities.Long-term notes payableBonds payableTotal long-term liabilitiesTotal liabilities10101525110152580Preferred stock $(100 par value, 5%)Common Stock S(10 par value)Additional paid-in capital--common stockRetained earnings....Total stockholders' equityTotal liabilities & equity.100100150150757565390$50050375$455The company's sales for the year were $300 thousand, its cost of goods sold was $220thousand, and its net income was $35 thousand. All sales were on credit. Preferred dividendsfor the year were $5 thousand.Prepare the following financial ratios to analyze the Balance Sheet of Lisa Inc.1. Acid test ratio.2. Accounts receivable turnover3. Inventory turnover4. Return on Equity5. Return on Assets6. Debt to equity ratio

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Lisa Inc.'s balance sheet appears below: Lisa Inc. Statement of Financial Position December 31 (in thousands) Year 2 Year 1 Cash $ 30 $ 25 Marketable securities. Accounts receivable (net) Inventories... Prepaid expenses Total current assets Land.. Building (net) Equipment (net). Total long-term assets. Total assets 20 15 45 30 30 20 140 125 60 15 170 155 80 90 95 330 $500 100 315 $455 Accounts payable Accrued interest Short-term notes payable. $ 47 15 23 85 $ 28 15 12 55 10 Total current liabilities... Long-term notes payable Bonds payable. Total long-term liabilities Total liabilities 10 15 25 110 100 15 25 80 100 Preferred stock $(100 par value, 5%) Common Stock S(10 par value) Additional paid-in capital--common stock. Retained earnings... Total stockholders equity Total liabilities & equity. 150 150 75 75 65 390 $500 50 375 $455 The company's sales for the year were $300 thousand, its cost of goods sold was $220 thousand, and its net income was $35 thousand. All sales were on credit. Preferred dividends for the year were $5 thousand. Prepare the following financial ratios to analyze the Balance Sheet of Lisa Inc. 1. Acid test ratio. 2. Accounts receivable turnover 3. Inventory turnover

Lisa Inc.'s balance sheet appears below: Lisa Inc. Statement of Financial Position December 31 (in thousands) Year 2 Year 1 Cash $ 30 $ 25 Marketable securities. Accounts receivable (net) Inventories... Prepaid expenses Total current assets Land.. Building (net) Equipment (net). Total long-term assets. Total assets 20 15 45 30 30 20 140 125 60 15 170 155 80 90 95 330 $500 100 315 $455 Accounts payable Accrued interest Short-term notes payable. $ 47 15 23 85 $ 28 15 12 55 10 Total current liabilities... Long-term notes payable Bonds payable. Total long-term liabilities Total liabilities 10 15 25 110 100 15 25 80 100 Preferred stock $(100 par value, 5%) Common Stock S(10 par value) Additional paid-in capital--common stock. Retained earnings... Total stockholders equity Total liabilities & equity. 150 150 75 75 65 390 $500 50 375 $455 The company's sales for the year were $300 thousand, its cost of goods sold was $220 thousand, and its net income was $35 thousand. All sales were on credit. Preferred dividends for the year were $5 thousand. Prepare the following financial ratios to analyze the Balance Sheet of Lisa Inc. 1. Acid test ratio. 2. Accounts receivable turnover 3. Inventory turnover

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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