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ment For the Years Ended December 31 @bco QR &f] On Fil, . viraqmo sa to swa Net Sales Cost of Goods Sold Gross Profit Selling and Administrative Expenses Operating Income Interest Expense Income before income taxes Income Tax Expense Net income bar borg vindasvet ni vansoffie gminimsieb ni uszu al zo Required: Compute the following ratios for 2019: 1. Current Ratio 2. Quick Ratio 3. Receivable Turnover solod elqitisM J 2018 2019 1,716,000 Telday P1,606,000 1,026,000 1,018,000 P 588,000 474,000 P 114,000 28,000 P86,000 34,000 P 52,000 690,000 488,000 big d 202,000 egriSVA 40,000 162,000 66,000 d rod 96,000 gniwollel sd to ridW.S Sinemogensm oval s bois aoirsilo sgerov d 21922A no mute To

ment For the Years Ended December 31 @bco QR &f] On Fil, . viraqmo sa to swa Net Sales Cost of Goods Sold Gross Profit Selling and Administrative Expenses Operating Income Interest Expense Income before income taxes Income Tax Expense Net income bar borg vindasvet ni vansoffie gminimsieb ni uszu al zo Required: Compute the following ratios for 2019: 1. Current Ratio 2. Quick Ratio 3. Receivable Turnover solod elqitisM J 2018 2019 1,716,000 Telday P1,606,000 1,026,000 1,018,000 P 588,000 474,000 P 114,000 28,000 P86,000 34,000 P 52,000 690,000 488,000 big d 202,000 egriSVA 40,000 162,000 66,000 d rod 96,000 gniwollel sd to ridW.S Sinemogensm oval s bois aoirsilo sgerov d 21922A no mute To

FINANCIAL ACCOUNTING
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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R Rainbow Trading Income Statement For the Years Ended December 31 do veqmo sa to gwar Net Sales Cost of Goods Sold Gross Profit Selling and Administrative Expenses Operating Income Interest Expense Income before income taxes Income Tax Expense Net income 1. Current Ratio 2. Quick Ratio 3. Receivable Turnover videva nivousaffle grinimastab ni lutsau al 2011 Required: Compute the following ratios for 2019: 4. Average Collection Period 5. Inventory Turnover 9. Equity Ratio 10. Debt to Equity Ratio 11. Times Interest Earned 12. Gross Profit Ratio 13. Operating Profit Margin 14. Net Profit Margin 15. Return on Assets 2019 P1,716,000 1,026,000 690,000 488,000 bin d 9961SVA bang 16. Return on Equity 17. Fixed Asset Turnover 18. Total Asset Turnover solod) siqilioM J 2018 ℗ 202,000 40,000 P 162,000 P1,606,000 1,018,000 P 588,000 474,000 P114,000 28,000 P 86,000 34,000 P 52,000 S Sesldayaq J 66,000 d ritol s 96,000 gniwolled od to binW Sinemogensm 19vom oval s boirs oitello 19 d 21922A no mut 6. Average Sales Period 7. Working Capitaloonsvloe & Jon ai gniwollot edt to doidWE 8. Debt Ratio oits ide0 .6 ois viiup d d&stod b & dio8 obalytimpal of tdst boric testsinl 29miT b ovode or to eno Let's Have Exercises
Transcribed Image Text:R Rainbow Trading Income Statement For the Years Ended December 31 do veqmo sa to gwar Net Sales Cost of Goods Sold Gross Profit Selling and Administrative Expenses Operating Income Interest Expense Income before income taxes Income Tax Expense Net income 1. Current Ratio 2. Quick Ratio 3. Receivable Turnover videva nivousaffle grinimastab ni lutsau al 2011 Required: Compute the following ratios for 2019: 4. Average Collection Period 5. Inventory Turnover 9. Equity Ratio 10. Debt to Equity Ratio 11. Times Interest Earned 12. Gross Profit Ratio 13. Operating Profit Margin 14. Net Profit Margin 15. Return on Assets 2019 P1,716,000 1,026,000 690,000 488,000 bin d 9961SVA bang 16. Return on Equity 17. Fixed Asset Turnover 18. Total Asset Turnover solod) siqilioM J 2018 ℗ 202,000 40,000 P 162,000 P1,606,000 1,018,000 P 588,000 474,000 P114,000 28,000 P 86,000 34,000 P 52,000 S Sesldayaq J 66,000 d ritol s 96,000 gniwolled od to binW Sinemogensm 19vom oval s boirs oitello 19 d 21922A no mut 6. Average Sales Period 7. Working Capitaloonsvloe & Jon ai gniwollot edt to doidWE 8. Debt Ratio oits ide0 .6 ois viiup d d&stod b & dio8 obalytimpal of tdst boric testsinl 29miT b ovode or to eno Let's Have Exercises
Exercise 7 trometer2 moonl 1Eodinaosa baba3 2169Y 9 20 Presented below are the financial statements of Rainbow Trading. 8105 600,000 9 000,0VE 000,0ES 9 000 40 Assets dar & Current Assets eros 000,015 Rainbow Trading 0(Statement of Financial Position 000,085 As of December 31ber 31 000,58 Prepaid Expenses 000 Ber 000,00 000,881 9 000,a 000,SOIT Cash Trade Receivables 000 SO Merchandise Inventory Total Current Assets Property, Plant, and Equipment (net) Total Assets Liabilities and Owner's Equity Current Liabilities Trade Payables Non-Current Liabilities Loan Payable Total Liabilities Owner's Equity Total Liabilities and Owner's Equity blo2 abood to 1014 29209qxl svits dainiml A bass 2019 2018 925q3 1252 58,000x19moor 10 64,000 170,000 222,000 16,000 ni 472,000 816,000 osoiu P1,288,000 920190x2 228,000 226,000 12,000 sannol ar stugo 524,000 1,050,000 INSTI 1,574,000 TOVOUT sidevis09 E P bons noitello sgrievA A 19 Osval 2 boi799 29162 99619VÁ O 284,000 so gubhow oids 578,000 A ywp3 862,000 p3 of tds P 712,000 stal 29mIT 252,000 8 396,000 648,000 640,000 1,574,000 019 2201 1,288,000 nigs or gnius19q0 El nigtsM 1019 19MM 21922A no mus 21 vived an muted al
Transcribed Image Text:Exercise 7 trometer2 moonl 1Eodinaosa baba3 2169Y 9 20 Presented below are the financial statements of Rainbow Trading. 8105 600,000 9 000,0VE 000,0ES 9 000 40 Assets dar & Current Assets eros 000,015 Rainbow Trading 0(Statement of Financial Position 000,085 As of December 31ber 31 000,58 Prepaid Expenses 000 Ber 000,00 000,881 9 000,a 000,SOIT Cash Trade Receivables 000 SO Merchandise Inventory Total Current Assets Property, Plant, and Equipment (net) Total Assets Liabilities and Owner's Equity Current Liabilities Trade Payables Non-Current Liabilities Loan Payable Total Liabilities Owner's Equity Total Liabilities and Owner's Equity blo2 abood to 1014 29209qxl svits dainiml A bass 2019 2018 925q3 1252 58,000x19moor 10 64,000 170,000 222,000 16,000 ni 472,000 816,000 osoiu P1,288,000 920190x2 228,000 226,000 12,000 sannol ar stugo 524,000 1,050,000 INSTI 1,574,000 TOVOUT sidevis09 E P bons noitello sgrievA A 19 Osval 2 boi799 29162 99619VÁ O 284,000 so gubhow oids 578,000 A ywp3 862,000 p3 of tds P 712,000 stal 29mIT 252,000 8 396,000 648,000 640,000 1,574,000 019 2201 1,288,000 nigs or gnius19q0 El nigtsM 1019 19MM 21922A no mus 21 vived an muted al
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