Surf's Up, a manufacturer of surfing supplies and training equipment, has the following selected data ($ in millions): Surf's Up Selected balance sheet data 2015 Total assets Total liabilities Total stockholders' equity Surf's Up Selected income statement data Sales revenue Interest expense Tax expense Net income $729 609 120 Times interest earned ratio 2014 $720 511 209 2015 $797 16 25 47 Based on these amounts, calculate the following ratios for 2015: (Do not round intermediate calculations. Round Times interest earned ratio to 2 decimals.) Debt to Equity Ratio Return on Assets Ratio Return on Equity Ratio 11 11
Surf's Up, a manufacturer of surfing supplies and training equipment, has the following selected data ($ in millions): Surf's Up Selected balance sheet data 2015 Total assets Total liabilities Total stockholders' equity Surf's Up Selected income statement data Sales revenue Interest expense Tax expense Net income $729 609 120 Times interest earned ratio 2014 $720 511 209 2015 $797 16 25 47 Based on these amounts, calculate the following ratios for 2015: (Do not round intermediate calculations. Round Times interest earned ratio to 2 decimals.) Debt to Equity Ratio Return on Assets Ratio Return on Equity Ratio 11 11
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Transcribed Image Text:Surf's Up, a manufacturer of surfing supplies and training equipment, has the following selected data ($ in
millions):
Surf's Up
Selected balance sheet data
2015
$729
609
120
Total assets
Total liabilities
Total stockholders' equity
Surf's Up
Selected income statement data
Sales revenue
Interest expense
Tax expense
Net income
2014
$720
Times interest earned ratio
2015
$797
16
25
47
511
209
Based on these amounts, calculate the following ratios for 2015: (Do not round intermediate
calculations. Round Times interest earned ratio to 2 decimals.)
Debt to Equity Ratio
Return on Assets Ratio
Return on Equity Ratio
11
11
11
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