Sandhill Corporation Balance Sheet as of July 31, 2017 Assets Liabilities and Stockholders' Equity Cash and marketable securities $12,036 Accounts payable $8,420 Accounts receivable 8,942 Accrued and other liabilities 7,475 Inventory 10,150 Taxes payable 6,364 Deferred income taxes 1,001 Debt due within one year 14,227 Prepaid expenses & other receivables 3,195 Total current liabilities $36,486 Total current assets $35,324 Property, plant, and equipment, at cost 71,212 Long-term debt 27,680 Less: Accumulated depreciation 25,303 Deferred income taxes 7,869 Net property, plant, and equipment $45,909 Other non-current liabilities 6,393 Net goodwill and other intangible assets 18,550 Total liabilities $78,428 Common stock 4,180 Retained earnings 17,175 Total stockholders' equity 21,355 Total assets $99,783 Total liabilities and stockholders' equity $99,783

Essentials Of Investments
11th Edition
ISBN:9781260013924
Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Publisher:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Chapter1: Investments: Background And Issues
Section: Chapter Questions
Problem 1PS
icon
Related questions
icon
Concept explainers
Question
Practice Pack

Sandhill Corporation recently filed the following financial statements with the SEC.

Sandhill Corporation
Income Statement for the Fiscal
Year Ended July 31, 2017
Net sales   $83,489
Cost of products sold   59,385
Gross profit   $24,104
Selling, general, and administrative expenses   10,640
Depreciation   1,208
Operating income (loss)   $12,256
Interest expense   740
Earnings (loss) before income taxes   $11,516
Income taxes   4,031
Net earnings (loss)   $7,485

What are the company’s current ratio and quick ratio? (Round answers to 2 decimal places, e.g. 52.75.)

Current ratio    
Quick ratio    
Sandhill Corporation
Balance Sheet as of July 31, 2017
Assets
Liabilities and Stockholders' Equity
Cash and marketable securities
$12,036
Accounts payable
$8,420
Accounts receivable
8,942
Accrued and other liabilities
7,475
Inventory
10,150
Taxes payable
6,364
Deferred income taxes
1,001
Debt due within one year
14,227
Prepaid expenses & other receivables
3,195
Total current liabilities
$36,486
Total current assets
$35,324
Property, plant, and equipment, at cost
71,212
Long-term debt
27,680
Less: Accumulated depreciation
25,303
Deferred income taxes
7,869
Net property, plant, and equipment
$45,909
Other non-current liabilities
6,393
Net goodwill and other intangible assets
18,550
Total liabilities
$78,428
Common stock
4,180
Retained earnings
17,175
Total stockholders' equity
21,355
Total assets
$99,783
Total liabilities and stockholders' equity
$99,783
Transcribed Image Text:Sandhill Corporation Balance Sheet as of July 31, 2017 Assets Liabilities and Stockholders' Equity Cash and marketable securities $12,036 Accounts payable $8,420 Accounts receivable 8,942 Accrued and other liabilities 7,475 Inventory 10,150 Taxes payable 6,364 Deferred income taxes 1,001 Debt due within one year 14,227 Prepaid expenses & other receivables 3,195 Total current liabilities $36,486 Total current assets $35,324 Property, plant, and equipment, at cost 71,212 Long-term debt 27,680 Less: Accumulated depreciation 25,303 Deferred income taxes 7,869 Net property, plant, and equipment $45,909 Other non-current liabilities 6,393 Net goodwill and other intangible assets 18,550 Total liabilities $78,428 Common stock 4,180 Retained earnings 17,175 Total stockholders' equity 21,355 Total assets $99,783 Total liabilities and stockholders' equity $99,783
Expert Solution
trending now

Trending now

This is a popular solution!

video

Learn your way

Includes step-by-step video

steps

Step by step

Solved in 5 steps with 2 images

Blurred answer
Knowledge Booster
Financial Statements
Learn more about
Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, finance and related others by exploring similar questions and additional content below.
Similar questions
  • SEE MORE QUESTIONS
Recommended textbooks for you
Essentials Of Investments
Essentials Of Investments
Finance
ISBN:
9781260013924
Author:
Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Publisher:
Mcgraw-hill Education,
FUNDAMENTALS OF CORPORATE FINANCE
FUNDAMENTALS OF CORPORATE FINANCE
Finance
ISBN:
9781260013962
Author:
BREALEY
Publisher:
RENT MCG
Financial Management: Theory & Practice
Financial Management: Theory & Practice
Finance
ISBN:
9781337909730
Author:
Brigham
Publisher:
Cengage
Foundations Of Finance
Foundations Of Finance
Finance
ISBN:
9780134897264
Author:
KEOWN, Arthur J., Martin, John D., PETTY, J. William
Publisher:
Pearson,
Fundamentals of Financial Management (MindTap Cou…
Fundamentals of Financial Management (MindTap Cou…
Finance
ISBN:
9781337395250
Author:
Eugene F. Brigham, Joel F. Houston
Publisher:
Cengage Learning
Corporate Finance (The Mcgraw-hill/Irwin Series i…
Corporate Finance (The Mcgraw-hill/Irwin Series i…
Finance
ISBN:
9780077861759
Author:
Stephen A. Ross Franco Modigliani Professor of Financial Economics Professor, Randolph W Westerfield Robert R. Dockson Deans Chair in Bus. Admin., Jeffrey Jaffe, Bradford D Jordan Professor
Publisher:
McGraw-Hill Education