Select the images below to enlarge.Balance SheetMurawski CompanyBalance SheetDecember 31Current AssetsInvestmentsCash and cash equivalentsAccounts receivable (net)InventoryPrepaid expensesTotal current assetsProperty, plant, and equipmentIntangibles and other assetsTotal assetsCurrent liabilitiesMurawski CompanyIncome StatementFor the Years Ended December 31Sales RevenueCosts and expensesCost of goods soldSelling and Administrative expensesInterest expenseTotal costs and expenses2022Income before income taxes$3304704601201,380$900Long-term liabilities410Stockholder's equity-common1,0301,040Total liabilities and stockholder's equity $2,340 $2,210Income StatementIncome tax expenseNet Income1010420380530510$2,340 $2,2102022$3,80020219552,400253,380$3604003901601,310420126$294$7903802021$3,4608902,330203,24022066$154Calculate the 2022 Debt to Assets ratio.Use whole numbers rounded to 2 decimalplaces, if needed, as seen in the examplebelow.1500Example800Debt to Assets Ratio 2022= 23401.88Click the check mark to check your answers.Fields with incorrect responses will beremoved so you can try again.

DEBT TO ASSETS RATIO Debt to Assets Ratio is the Ratio Between Total Debt & Total Assets for…

Select the images below to enlarge. Balance Sheet Murawski Company Balance Sheet December 31 Current Assets Investments Cash and cash equivalents Accounts receivable (net) Inventory Prepaid expenses Total current assets Property, plant, and equipment Intangibles and other assets Total assets Current liabilities Murawski Company Income Statement For the Years Ended December 31 Sales Revenue Costs and expenses Cost of goods sold Selling and Administrative expenses Interest expense Total costs and expenses 2022 $900 Long-term liabilities 410 Stockholder's equity-common 1,030 1,040 Total liabilities and stockholder's equity $2,340 $2,210 Income before income taxes Income Statement Income tax expense Net Income $330 $360 470 400 460 390 120 160 1,380 1,310 10 10 420 380 530 510 $2,340 $2,210 2022 $3,800 2021 955 2,400 25 3,380 420 126 $294 $790 380 2021 $3,460 890 2,330 20 3,240 220 66 $154 Calculate the 2022 Debt to Assets ratio. Use whole numbers rounded to 2 decimal places, if needed, as seen in the example below. 1500 Example 800 Debt to Assets Ratio 2022 = 2340 1.88 Click the check mark to check your answers. Fields with incorrect responses will be removed so you can try again.

Select the images below to enlarge. Balance Sheet Murawski Company Balance Sheet December 31 Current Assets Investments Cash and cash equivalents Accounts receivable (net) Inventory Prepaid expenses Total current assets Property, plant, and equipment Intangibles and other assets Total assets Current liabilities Murawski Company Income Statement For the Years Ended December 31 Sales Revenue Costs and expenses Cost of goods sold Selling and Administrative expenses Interest expense Total costs and expenses 2022 $900 Long-term liabilities 410 Stockholder's equity-common 1,030 1,040 Total liabilities and stockholder's equity $2,340 $2,210 Income before income taxes Income Statement Income tax expense Net Income $330 $360 470 400 460 390 120 160 1,380 1,310 10 10 420 380 530 510 $2,340 $2,210 2022 $3,800 2021 955 2,400 25 3,380 420 126 $294 $790 380 2021 $3,460 890 2,330 20 3,240 220 66 $154 Calculate the 2022 Debt to Assets ratio. Use whole numbers rounded to 2 decimal places, if needed, as seen in the example below. 1500 Example 800 Debt to Assets Ratio 2022 = 2340 1.88 Click the check mark to check your answers. Fields with incorrect responses will be removed so you can try again.

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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