Hello tutor solve this question accounting The following information was available for the year ended December 31,2016:Earnings before interest and taxes (operating income) $97,500Interest expenseIncome tax expenseNet incomeTotal assets at year-end15,00022,50060,000288,000216,000Total liabilities at year-endRequired:(a) Calculate the debt ratio at December 31, 2016.(b) Calculate the debt/equity ratio at December 31, 2016.(c) Calculate the times interest earned for the year ended December 31,2016.

Given DataEarnings before interest and taxes (EBIT) = $97,500Interest expense = $15,000Income tax…

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Cornerstones of Financial Accounting

4th Edition

ISBN:9781337690881

Author:Jay Rich, Jeff Jones

Publisher:Jay Rich, Jeff Jones

Chapter12: Fainancial Statement Analysis

Section: Chapter Questions

Problem 23MCQ

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Juroe Company provided the following income statement for last year: Juroes balance sheet as of December 31 last year showed total liabilities of 10,250,000, total equity of 6,150,000, and total assets of 16,400,000. Required: Note: Round answers to two decimal places. 1. Calculate the times-interest-earned ratio. 2. Calculate the debt ratio. 3. Calculate the debt-to-equity ratio.
Liverton Co.’s income statement for the year ended 31 March 2019 and statements of financial position at 31 March 2019 and 2018 were as follows in the images. Calculate for the financial year ended 31 March 2019 and, where possible, for 31 March 2018, the following ratios: i) Gross profit marginii) Assets usageiii) Current ratioiv) Acid testv) Inventories holding periodvi) Debt to Equity ratio
The current ratio for the following is ..... Group of answer choices .43 .23 .73 .53
The following information (in millions) was taken from the December 31 financial statements Accounts receivable, gross Allowance for expected credit losses Accounts receivable, net Revenues Total current assets Total current liabilities 13) Calculate the current ratio for 2020 13) 2021 $ 1.102 28 1,074 14,477 3,426 3,120 2020 $ 1.080 26 1,054 13,819 3,102 3,274 2019 $ 1.241 28 1,213 14,917 2,830 4,287
Income Statement Bullseye, Incorporated's 2018 income statement lists the following income and expenses: EBIT = $904,500, Interest expense = $87,000, and Net income = $576,000. What is the 2008 Taxes reported on the income statement?
Selected income statement data follow for Harper, Inc., for the year ended December 31 (in thousands). What is the company's times interest earned ratio? Operating income before interest Interest expense Operating income after interest Income tax Income after tax 35.6 30.6 11.2 24.4 6,617 189 6.428 1,607 4,821
Given the data in the following table, the current ratio in 2023 was… % (table is attached) 1) 2.89 2 ) 2.61 3) 1.97 4) 2.08 52.14
For its fiscal year ending October 31, 2020, Antonio Corporation reports the following partial data. Income before income taxes $423.000
Given the data in the following table, the entry for Inventories on the 2023 common-sized balance sheet was %.
The following information was taken from the comparative financial statements of Foggy Industries, Inc., for the years ended December 31, 2021 and 2022: Net income for 2022 Sales revenue. Cost of goods sold.. . . . . Depreciation expense for 2022. . . . . . $ 160,000 2,200,000 1,700,000 150,000 Interest expense on short-term debt for 2022. 20,000 Dividends declared and paid in 2022. . . . . 60,000 Utilities expense 10,000 Dec. 31, 2022 Dec. 31, 2021 Accounts receivable (net) $ 120,000 Inventory Accounts payable $110,000 190,000 180,000 148,000 156,000 Use the direct method to compute cash flows provided by operating activities in 2022. (Hint: Prepare the Statement of Comprehensive Income in good form to identify the operating expenses.)
Calculating Ratios and Estimating Credit Rating The following data are from Kellogg's 10-K report dated December 29, 2018 ($ millions). Revenue Interest expense Tax expense Amortization expense Depreciation expense $13,547 Earnings from continuing operations $1,344 Capital expenditures (CAPEX) 578 287 181 Total debt 8,893 23 Average assets 17,066 493 a. Use the data above to calculate the following ratios: EBITA/Average assets, EBITA Margin, EBITA/ Interest expense, Debt/EBITDA, CAPEX/Depreciation Expense. Definitions for these ratios are in Exhibit 7.4. b. Refer to Exhibit 7.4 and the ratios you calculated in part a. Estimate the credit rating that Moody's might assign to Kellogg. Round answers to one decimal place (percentage ex: 0.2345 = 23.5%) Ratio Moody's rating EBITA/Avg. assets EBITA margin EBITA/Int. expense Debt/EBITDA CAPEX/Dep. expense Please answer all parts of the question. 0% 0% 0 0 0 ◆ ◆
K McDaniel and Associates, Inc. reported the following amounts on its 2024 income statement: Year Ended December 31, 2024 Net income Income tax expense Interest expense $ 22,950 6,600 3,000 What was McDaniel's times-interest-earned ratio for 2024? OA. 7.65 OB. 10.85 OC. 9.85 OD. 8.65 point(s) possible ...

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