Statement of Financial Position For the Year-ended December 31 2014 2013 Cash 400,000 180,000 Short-term investments 5,600,000 1,800,000 Accounts receivable 1,480,000 1,060,000 Inventory 1,380,000 1,640,000 Other Current Assets 8,860,000 4,680,000 Total Current Assets 10,860,000 5,040,000 Equipment 6,800,000 5,200,000 Total Assets 17,660,000 10,240,000 Accounts Payable 6,600,000 2,620,000 Notes Payable - long term 2,460,000 2,120,000 Owner, Capital 8,600,000 5,500,000 Total liabilities and equity 17,660,000 10,240,000 Requirements: Compute for the company's profitability and operating efficiency ratios for 2014. Compute for the financial health ratios of the company in 2014 and 2013. a. b.

Statement of Financial Position For the Year-ended December 31 2014 2013 Cash 400,000 180,000 Short-term investments 5,600,000 1,800,000 Accounts receivable 1,480,000 1,060,000 Inventory 1,380,000 1,640,000 Other Current Assets 8,860,000 4,680,000 Total Current Assets 10,860,000 5,040,000 Equipment 6,800,000 5,200,000 Total Assets 17,660,000 10,240,000 Accounts Payable 6,600,000 2,620,000 Notes Payable - long term 2,460,000 2,120,000 Owner, Capital 8,600,000 5,500,000 Total liabilities and equity 17,660,000 10,240,000 Requirements: Compute for the company's profitability and operating efficiency ratios for 2014. Compute for the financial health ratios of the company in 2014 and 2013. a. b.

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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Question

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Problem: Apple Tree Factory
Statement of Comprehensive Income
For the Year-ended December 31
2014
2013
Sales
10,040,000
8,760,000
Cost of Goods Sold
5,680,000
5,860,000
Gross Profit
4,360,000
2,800,000
Operating Expenses
1,160,000
1,680,000
Operating Income
3,200,000
1,220,000
Interest Expense
100,000
28,000
Net Income
3,1000,000
1,192,000

Cont. Apple Tree Factory *
Statement of Financial Position
For the Year-ended December 31
2014
2013
Cash
400,000
180,000
Short-term investments
5,600,000
1,800,000
Accounts receivable
1,480,000
1,060,000
Inventory
1,380,000
1,640,000
Other Current Assets
8,860,000
4,680,000
Total Current Assets
10,860,000
5,040,000
Equipment
6,800,000
5,200,000
Total Assets
17,660,000
10,240,000
Accounts Payable
6,600,000
2,620,000
Notes Payable - long term
2,460,000
2,120,000
Owner, Capital
8,600,000
5,500,000
Total liabilities and equity
17,660,000
10,240,000
Requirements:
Compute for the company's profitability and operating efficiency ratios for 2014.
Compute for the financial health ratios of the company in 2014 and 2013.
a.
b.

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