Paddy's Pub reported the following year-end data: Income before interest expense and income tax expense Cost of goods sold Interest expense Total assets Total liabilities Total equity Compute the (a) debt-to-equity ratio and (b) times Interest earned. Debt To Equity Times Interest Earned Ratio Compute the times interest earned. Complete this question by entering your answers in the tabs below. Numerator: $ 77,000 37,000 3,500 105,000 Times Interest Eamed 35,000 70,000 Denominator: Times Interest Earned Times interest earned times

Paddy's Pub reported the following year-end data: Income before interest expense and income tax expense Cost of goods sold Interest expense Total assets Total liabilities Total equity Compute the (a) debt-to-equity ratio and (b) times Interest earned. Debt To Equity Times Interest Earned Ratio Compute the times interest earned. Complete this question by entering your answers in the tabs below. Numerator: $ 77,000 37,000 3,500 105,000 Times Interest Eamed 35,000 70,000 Denominator: Times Interest Earned Times interest earned times

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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Use the below information to answer the following question. Sales Cost of goods sold Depreciation Income Statement For the Year Taxable income Taxes Earnings before interest $4,500 and taxes Interest paid Net income Dividends $900 Balance Sheet End-of-Year Cash Accounts receivable Inventory Total current assets Net fixed assets Total assets Accounts payable Long-term debt Common stock ($1 par value) Retained earnings O O O O Total Liab. & Equity 33 percent 40 percent 50 percent $28,400 60 percent 21,200 2,700 67 percent 850 $3,650 1,400 $2,250 $550 2,450 4,700 $7,700 What was the retention ratio? 16,900 $24,600 $ 2,700 9,800 8,000 4,100 $24,600
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se the following selected financial statement information from Black Water Industries. BLACK WATER INDUSTRIES Year Net Credit Sales Ending Accounts Receivable 2017 $687,430 $332,250 2018 705,290 362,450 2019 769,500 403,650 A. Compute the number of days’ sales in receivables ratios for 2018 and 2019. Round your answers to two decimal places. 2018 fill in the blank 1 days 2019 fill in the blank 2 days B. Using the sales in accounts receivable, choose the statement that most closely describes the company's management of its receivables. a. The company collects its accounts slowly, and the days are increasing. b. This may be leave the company unable to pay current debt owed to a lender. c. The company may need to be more aggressive with its receivable collection procedures. d. All of the above statements may be correct.
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