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What is the Acid-test ratio of Nezuko Inc

What is the Acid-test ratio of Nezuko Inc

FINANCIAL ACCOUNTING
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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What is the Acid-test ratio of Nezuko Inc

Nezuko Inc. Statement of Comprehensive Income For the Year Ended December 31, 2020 (Expressed in millions, except per share data) 2,700.00 (2,025.00) 675.00 Sales Cost of goods sold Gross profits Operating expenses: Selling expenses General and administrative expenses $ (90.00) (67.50) (135.00) Depreciation and amortization expense Total operating expense Net operating income (EBIT or earnings before interest and taxes) Interest expense Earnings before taxes (292.50) 382.50 (67.50) 315.00 (110.25) 204.75 Income taxes Net Income Additional Information: Dividends paid to stockholders during 2020 Number of common shares outstanding 45.00 90.00 Earnings per share (EPS) Dividends per share 2.28 0.50 %24
Transcribed Image Text:Nezuko Inc. Statement of Comprehensive Income For the Year Ended December 31, 2020 (Expressed in millions, except per share data) 2,700.00 (2,025.00) 675.00 Sales Cost of goods sold Gross profits Operating expenses: Selling expenses General and administrative expenses $ (90.00) (67.50) (135.00) Depreciation and amortization expense Total operating expense Net operating income (EBIT or earnings before interest and taxes) Interest expense Earnings before taxes (292.50) 382.50 (67.50) 315.00 (110.25) 204.75 Income taxes Net Income Additional Information: Dividends paid to stockholders during 2020 Number of common shares outstanding 45.00 90.00 Earnings per share (EPS) Dividends per share 2.28 0.50 %24
Nezuko Inc. Statement of Financial Position For the Year Ended 2020 (Expressed in $ millions) Assets Cash 90.00 Accounts Receivable 162.00 Inventory 378.00 Other current assets 13.50 $ 643.50 Tatal current assets Grass plant and equipment Less: Accumulated Depreciation Net plant and equipment Total Assets 1,845.00 (517.50) Ŝ 1,327.50 $ 1.971.00 Liabilities and Owner's Equity $ 189.00 Accounts Payable Accrued expenses 45.00 Shart-term loans 54.00 $ 288.00 771.75 1.059.75 Tatal current liabilities Lang-term debt Total Liabilities Common stackholders' equity Common stack - par value Paid in capital Retained earnings Total common stockholders' equity 45.00 324.00 542.25 911.25 Total liabilities and stockholders' equity Ŝ 1971.00
Transcribed Image Text:Nezuko Inc. Statement of Financial Position For the Year Ended 2020 (Expressed in $ millions) Assets Cash 90.00 Accounts Receivable 162.00 Inventory 378.00 Other current assets 13.50 $ 643.50 Tatal current assets Grass plant and equipment Less: Accumulated Depreciation Net plant and equipment Total Assets 1,845.00 (517.50) Ŝ 1,327.50 $ 1.971.00 Liabilities and Owner's Equity $ 189.00 Accounts Payable Accrued expenses 45.00 Shart-term loans 54.00 $ 288.00 771.75 1.059.75 Tatal current liabilities Lang-term debt Total Liabilities Common stackholders' equity Common stack - par value Paid in capital Retained earnings Total common stockholders' equity 45.00 324.00 542.25 911.25 Total liabilities and stockholders' equity Ŝ 1971.00
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