Maligalig Company Comparative Statement of Financial Position December 31 (in Thousand Dollars) 2017 2016 2015 ASSETS Current Assets Cash and Cash Equivalents 91,100 12,628 11,254 Short term Investments 193,230 12,000 12,000 Trade Receivables, net of $30,000 allowance 485,000 529,949 510,435 Note Receivable – related party 12,325 18,941 21,543 Other Receivables 80,532 Inventory 212,515 252,567 252,567 Prepaid Insurance 7,500 7,500 7,500 Total Current Assets 1,001,670 914,117 815,299 Non-Current Asset Property, Plant and Equipment 209,330 209,330 209,330 Less Accumulated Depreciation 87,260 75,332 64,034 Total non-current Asset 122,070 133,998 145,296 TOTAL ASSET 1,123,740 1,048,115 960,595 LIABILITIES AND SHAREHOLDERS EQUITY Current Liabilities Accounts Payable 148,000 154,021 135,000 Accrued Expense 2,025 2,500 2,500 Notes Payable 22,325 21,300 21,750 Line of Credit 123,000 145,000 167,000 Current Portion of Long Term Debt 36,000 36,000 36,000 Total Current Liabilities 331,350 358,821 362,250 Non-Current Liabilities Long Term Debt 114,686 117,343 117,345 Total Liabilities 446,036 476,164 479,595 Shareholders’ Equity Ordinary Share, $1 par value 100,000 100,000 100,000 Premium on Ordinary Shares 50,000 50,000 50,000 Retained Earnings 527,704 421,951 331,000 Total Shareholders’ Equity 677,704 571,951 481,000 TOTAL LIABILITIES AND SHAREHOLDERS EQUITY 1,123,740 1,048,115 960,595 Maligalig Company Comparative Income Statement For the year ended December 31 (in Thousand Dollars) 2017 2016 Net Sales 2,013,225 1,986,456 Less: Cost of Sales 1,201,000 1,187,652 Gross Income 812,225 798,804 Less: Other Operating Expense 562,705 556,732 Operating Income 249,520 242,072 Less: Other Expense Interest 16,383 16,453 Other Expense 4,884 2,600 Net Income before Taxes 228,253 223,019 Less: Income Tax 22,500 22,300 NET INCOME AFTER TAXES 205,753 200,719 Requirement: Compute the FINANCIAL ratios that measure Liquidity Current ratio Quick ratio Working capital

Maligalig Company Comparative Statement of Financial Position December 31 (in Thousand Dollars) 2017 2016 2015 ASSETS Current Assets Cash and Cash Equivalents 91,100 12,628 11,254 Short term Investments 193,230 12,000 12,000 Trade Receivables, net of $30,000 allowance 485,000 529,949 510,435 Note Receivable – related party 12,325 18,941 21,543 Other Receivables 80,532 Inventory 212,515 252,567 252,567 Prepaid Insurance 7,500 7,500 7,500 Total Current Assets 1,001,670 914,117 815,299 Non-Current Asset Property, Plant and Equipment 209,330 209,330 209,330 Less Accumulated Depreciation 87,260 75,332 64,034 Total non-current Asset 122,070 133,998 145,296 TOTAL ASSET 1,123,740 1,048,115 960,595 LIABILITIES AND SHAREHOLDERS EQUITY Current Liabilities Accounts Payable 148,000 154,021 135,000 Accrued Expense 2,025 2,500 2,500 Notes Payable 22,325 21,300 21,750 Line of Credit 123,000 145,000 167,000 Current Portion of Long Term Debt 36,000 36,000 36,000 Total Current Liabilities 331,350 358,821 362,250 Non-Current Liabilities Long Term Debt 114,686 117,343 117,345 Total Liabilities 446,036 476,164 479,595 Shareholders’ Equity Ordinary Share, $1 par value 100,000 100,000 100,000 Premium on Ordinary Shares 50,000 50,000 50,000 Retained Earnings 527,704 421,951 331,000 Total Shareholders’ Equity 677,704 571,951 481,000 TOTAL LIABILITIES AND SHAREHOLDERS EQUITY 1,123,740 1,048,115 960,595 Maligalig Company Comparative Income Statement For the year ended December 31 (in Thousand Dollars) 2017 2016 Net Sales 2,013,225 1,986,456 Less: Cost of Sales 1,201,000 1,187,652 Gross Income 812,225 798,804 Less: Other Operating Expense 562,705 556,732 Operating Income 249,520 242,072 Less: Other Expense Interest 16,383 16,453 Other Expense 4,884 2,600 Net Income before Taxes 228,253 223,019 Less: Income Tax 22,500 22,300 NET INCOME AFTER TAXES 205,753 200,719 Requirement: Compute the FINANCIAL ratios that measure Liquidity Current ratio Quick ratio Working capital

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Description: Maligalig Company Comparative Statement of Financial Position December 31 (in Thousand Dollars) 201

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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Maligalig Company

Comparative Statement of Financial Position

December 31

(in Thousand Dollars)

	2017	2016	2015
ASSETS
Current Assets
Cash and Cash Equivalents	91,100	12,628	11,254
Short term Investments	193,230	12,000	12,000
Trade Receivables, net of $30,000 allowance	485,000	529,949	510,435
Note Receivable – related party	12,325	18,941	21,543
Other Receivables		80,532
Inventory	212,515	252,567	252,567
Prepaid Insurance	7,500	7,500	7,500
Total Current Assets	1,001,670	914,117	815,299
Non-Current Asset
Property, Plant and Equipment	209,330	209,330	209,330
Less Accumulated Depreciation	87,260	75,332	64,034
Total non-current Asset	122,070	133,998	145,296
TOTAL ASSET	1,123,740	1,048,115	960,595

LIABILITIES AND SHAREHOLDERS EQUITY
Current Liabilities
Accounts Payable	148,000	154,021	135,000
Accrued Expense	2,025	2,500	2,500
Notes Payable	22,325	21,300	21,750
Line of Credit	123,000	145,000	167,000
Current Portion of Long Term Debt	36,000	36,000	36,000
Total Current Liabilities	331,350	358,821	362,250
Non-Current Liabilities
Long Term Debt	114,686	117,343	117,345
Total Liabilities	446,036	476,164	479,595

Shareholders’ Equity
Ordinary Share, $1 par value	100,000	100,000	100,000
Premium on Ordinary Shares	50,000	50,000	50,000
Retained Earnings	527,704	421,951	331,000
Total Shareholders’ Equity	677,704	571,951	481,000
TOTAL LIABILITIES AND SHAREHOLDERS EQUITY	1,123,740	1,048,115	960,595

Maligalig Company

Comparative Income Statement

For the year ended December 31

(in Thousand Dollars)

	2017	2016
Net Sales	2,013,225	1,986,456
Less: Cost of Sales	1,201,000	1,187,652
Gross Income	812,225	798,804
Less: Other Operating Expense	562,705	556,732
Operating Income	249,520	242,072
Less: Other Expense
Interest	16,383	16,453
Other Expense	4,884	2,600
Net Income before Taxes	228,253	223,019
Less: Income Tax	22,500	22,300
NET INCOME AFTER TAXES	205,753	200,719

Requirement:

Compute the FINANCIAL ratios that measure

Liquidity

Current ratio
Quick ratio
Working capital
Cash Ratio

Leverage

Degree of Operating Leverage
Financial leverage Ratio
Total Debt to Total Capital Ratio
Debt to Equity Ratio
Long Term Debt to Equity Ratio
Debt to Asset Ratio
Times Interest Earned

Operating Activity

Accounts Receivable Turnover
Days Sales in Receivable
Inventory Turnover
Days in Inventory

Profitability

Earnings per share
Return on Asset
Return on Equity
Operating Profit Margin
Net Profit Margin

Analyze, interpret and draw conclusions based on the results of your computations.

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