The following data were taken from the balance sheet of Nilo Company at the end of two recent fiscal years: Current Year Previous Year Current assets: Cash $465,100 $354,000 Marketable securities 538,600 398,300 Accounts and notes receivable (net) 220,300 132,700 Inventories 987,400 755,800 Prepaid expenses 508,600 483,200 Total current assets $2,720,000 $2,124,000 Current liabilities: Accounts and notes payable (short-term) $394,400 $413,000 Accrued liabilities 285,600 177,000 Total current liabilities $680,000 $590,000 a. Determine for each year (1) the working capital, (2) the current ratio, and (3) the quick ratio. Round ratios to one decimal place. Current Year Previous Year 1. Working capital 2. Current ratio

The following data were taken from the balance sheet of Nilo Company at the end of two recent fiscal years: Current Year Previous Year Current assets: Cash $465,100 $354,000 Marketable securities 538,600 398,300 Accounts and notes receivable (net) 220,300 132,700 Inventories 987,400 755,800 Prepaid expenses 508,600 483,200 Total current assets $2,720,000 $2,124,000 Current liabilities: Accounts and notes payable (short-term) $394,400 $413,000 Accrued liabilities 285,600 177,000 Total current liabilities $680,000 $590,000 a. Determine for each year (1) the working capital, (2) the current ratio, and (3) the quick ratio. Round ratios to one decimal place. Current Year Previous Year 1. Working capital 2. Current ratio

Name: MildiysisThe following data were taken from the balance sheet of Nilo
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Description: MildiysisThe following data were taken from the balance sheet of Nilo Company at the end of two recent fiscal years:Current YearPrevious YearCurrent assets:Cash$465,100$354,000Marketable securities538,600398,300Accounts and notes receivable (net)220

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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Based on the financial statements below, what is the current ratio and quick ratio?
Category Prior Year Current Year Accounts payable 3,123.00 5,969.00 Accounts receivable 6,987.00 8,940.00 Accruals 5,642.00 6,108.00 Additional paid in capital 19,885.00 13,325.00 Cash ??? ??? Common Stock 2,850 2,850 COGS 22,986.00 18,120.00 Current portion long-term debt 500 500 Depreciation expense 1,035.00 988.00 Interest expense 1,290.00 1,167.00 Inventories 3,006.00 6,743.00 Long-term debt 16,856.00 22,001.00 Net fixed assets 75,521.00 74,000.00 Notes payable 4,072.00 6,540.00 Operating expenses (excl. depr.) 19,950 20,000 Retained earnings 35,244.00 34,874.00 Sales 46,360 45,055.00 Taxes 350 920 What is the firm's cash flow from financing?
REQUIRED: Compute for financial ratios?
Simon Company's year-end balance sheets follow. At December 31 Current Yr 1 Yr Ago 2 Yrs Ago Assets Cash $ 28,966 $ 32,863 $ 34,232 Express the balance sheets in common-size percent
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WD Corporation reports the following year-end balance sheet data. The company's debt-to-equity ratio equals: Cash $ 42,000 Current liabilities $ 77,000 Accounts receivable 57,000 Long-term liabilities 28,000 Inventory 62,000 Common stock 102,000 Equipment 147,000 Retained earnings 101,000 Total assets $ 308,000 Total liabilities and equity $ 308,000
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The current year financial statements for Blue Water Company and Prime Fish Company are presented below. Balance sheet Cash Accounts receivable (net) Inventory Property & equipment (net) Blue Water Prime Fish $ 42,400 45,000 $ 19,600 35,200 Other assets Total assets Current liabilities Long-term debt (interest rate: 10%) Capital stock ($10 par value) Additional paid-in capital Retained earnings Total liabilities and stockholders' equity $ 425,800 Income statement Sales revenue (1/3 on credit) Cost of goods sold Operating expenses Net income Other data Per share stock price at end of current year Average income tax rate $ 426,000 (234,000) (163,800) 92,000 161,000 85,400 $ 425,800 $ 92,000 74,800 157,800 30,400 70,800 48,400 417,800 319,000 $ 840,000 $ 70,000 62,800 526,000 107,400 73,800 $ 840,000 $ 788,000 (401,400) (312,400) $ 28,200 $ 74,200 $ 23.4 30% $ 29 30% Dividends declared and paid in current year $ 34,400 $ 155,000 Both companies are in the fish catching and manufacturing…
The comparative accounts payable and long-term debt balances for a company follow. Current Year Previous YearAccounts payable $114,240 $102,000Long-term debt 127,200 120,000 Based on this information, what is the amount and percentage of increase or decrease that wouldbe shown on a balance sheet with horizontal analysis?
Balance sheet data for Kwan Company on December 31, the end of two recent fiscal years, follow: Current Year Previous Year Current assets $323,520 $181,920 Property, plant, and equipment 566,160 523,020 Intangible assets 121,320 53,060 Current liabilities 242,640 144,020 Long-term liabilities 333,630 242,560 Common stock 121,320 121,280 Retained earnings 313,410 250,140 Prepare a comparative balance sheet for both years, stating each asset as a percent of total assets and each liability and stockholders' equity item as a percent of the total liabilities and stockholders' equity. If required, round percentages to one decimal place.
Lydex Company’s financial statements for the last two years are as follows: Lydex Company Comparative Balance Sheet This Year Last Year Assets Current assets: Cash $ 1,020,000 $ 1,260,000 Marketable securities 0 300,000 Accounts receivable, net 2,940,000 2,040,000 Inventory 3,660,000 2,100,000 Prepaid expenses 270,000 210,000 Total current assets 7,890,000 5,910,000 Plant and equipment, net 9,640,000 9,110,000 Total assets $ 17,530,000 $ 15,020,000 Liabilities and Stockholders' Equity Liabilities: Current liabilities $ 4,070,000 $ 3,100,000 Note payable, 10% 3,700,000 3,100,000 Total liabilities 7,770,000 6,200,000 Stockholders' equity: Common stock, $75 par value 7,500,000 7,500,000 Retained earnings 2,260,000 1,320,000 Total stockholders' equity 9,760,000 8,820,000 Total liabilities and stockholders' equity $ 17,530,000 $ 15,020,000 Lydex Company Comparative Income Statement and Reconciliation This…
Balance sheet data for Kwan Company on December 31, the end of two recent fiscal years, follow: Current Year Previous Year Current assets $285,820 $179,920 Property, plant, and equipment 516,320 463,640 Intangible assets 119,860 48,440 Current liabilities 175,180 96,880 Long-term liabilities 378,020 283,720 Common stock 92,200 89,960 Retained earnings 276,600 221,440 Prepare a comparative balance sheet for both years, stating each asset as a percent of total assets and each liability and stockholders' equity item as a percent of the total liabilities and stockholders' equity. If required, round percentages to one decimal place. Kwan Company Comparative Balance Sheet For the Years Ended December 31 Current Current Previous Previous year year year year Amount Percent Amount Percent Current assets $285,820 $179,920 Property, plant, and equipment 516,320 % 463,640 % Intangible assets 119,860 48,440 Total assets $922,000 $692,000 Current liabilities $175,180 % $96,880 % Long-term…