Current Position AnalysisThe following data were taken from the balance sheet of Nilo Company at the end of two recent fiscal years:Current YearPrevious YearCurrent assets:CashMarketable securitiesAccounts and notes receivable (net)InventoriesPrepaid expensesTotal current assetsCurrent liabilities:Accounts and notes payable(short-term)Accrued liabilitiesTotal current liabilitiesa. Determine for each year (1) the workingCurrent Year1. Working capital2. Current ratio3. Quick ratiob. The liquidity of Nilo hascurrent assets relative to current liabilities.$690,500799,500327,0001,042,800537,200.$3,397,000$458,200$579,600652,100217,300673,400430,600$2,553,000$483,000331,800207,000$790,000$690,000capital, (2) the current ratio, and (3) the quick ratio. Round ratios to one decimal place.Previous Yearfrom the preceding year to the current year. The working capital, current ratio, and quick ratio have all. Most of these changes are the result of anin

Current and quick ratio are the measures which help the entity to measure its liquidity position.…

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 Marketable securities Accounts and notes receivable (net) Inventories Prepaid expenses Total current assets Current liabilities: Accounts and notes payable (short-term) Accrued liabilities $458,200 $483,000 331,800 $790,000 207,000 $690,000 Total current liabilities 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 $690,500 799,500 327,000 1,042,800 537,200 $3,397,000 3. Quick ratio b. The liquidity of Nilo has current assets relative to current liabilities. $579,600 652,100 217,300 673,400 430,600 $2,553,000 from the preceding year to the current year. The working capital, current ratio, and quick ratio have all i Most of these changes are the result of an [ in

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 Marketable securities Accounts and notes receivable (net) Inventories Prepaid expenses Total current assets Current liabilities: Accounts and notes payable (short-term) Accrued liabilities $458,200 $483,000 331,800 $790,000 207,000 $690,000 Total current liabilities 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 $690,500 799,500 327,000 1,042,800 537,200 $3,397,000 3. Quick ratio b. The liquidity of Nilo has current assets relative to current liabilities. $579,600 652,100 217,300 673,400 430,600 $2,553,000 from the preceding year to the current year. The working capital, current ratio, and quick ratio have all i Most of these changes are the result of an [ in

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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Consider the following company’s balance sheet and income statement Return on assets. Return on equity.
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USE THE DATA IN THE TABLE BELOW TO ANSWER THE FOLLOWING 3 QUESTIONS LukaDonc, Incorporated Balance Sheets for the Years Ending December 31, (All amounts are in dollars) Cash Accounts receivable Inventory Total current assets Net fixed assets* Land Total assets Notes payable Accounts payable Accruals Current portion of LT Debt Total current liabilities Long-term debt Common stock Capital surplus Retained earnings Total liabilities and equity Year 1 184,600 3,322,800 1,476,800 4,984,200 11,999,000 1,476,800 18,460,000 923,000 2,215,200 553,800 2,399,800 6,091,800 5,722,600 553,800 2,215,200 3,876,600 18,460,000 Year 2 201,700 3,227,200 2,017,000 5,445,900 13,110,500 1,613,600 20,170,000 806,800 2,017,000 806,800 2,823,800 6,454,400 6,252,700 806,800 2,622,100 4,034,000 20,170,000 Additional Data from Company Income Statement(s); Sales in Year 2 Net income in Year 2 Depreciation expense in Year 1 Depreciation expense in Year 2 *No long-term assets were sold in either Year 1 or Year 2…
What amount of total assets does the company report on its balance sheet? What amount of total liabilities does the company report on its balance sheet?
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Consider the following company’s balance sheet and income statement. Number of days in inventory. Debt-to-asset ratio. Cash-flow-to-debt ratio.
Simon Company's year-end balance sheets follow. At December 31 Assets Cash Accounts receivable, net Merchandise inventory Prepaid expenses Plant assets, net Total assets Liabilities and Equity Accounts payable Long-term notes payable Common stock, $10 par value Retained earnings Total liabilities and equity Current Year $31,800 89,500 112,500 10,700 278,500 $523,000 $129,900 98,500 163,500 131,100 $523,000 1 Year Ago $35,625 62,500 82,500 9,375 255,000 $445,000 $75,250 101,500 2 Years Ago $37,800 50,200 54,000 5,000 230,500 $377,500 $51,250 83,500 163,500 163,500 104,750 79,250 $445,000 $377,500 Required: 1. Express the balance sheets in common-size percents. (Use cells A4 to D17 from the given information to complete this question.)