pe and Enya Guinea Coconut Company are as follows:$ 550Balance Sheet ($000)2,500Cash1.100Accounts receivable$ 4,150InventoriesCurrent assets4,700Net fined assets$8.850Total assets$1,200Accounts payable680Accrued expenses320Short-term notes payable$2.200Current liabilities2,300Long-term debtOwners equityTotal liabilities and owners' equity4.350$8850Income Statement ($000)Sales (all credit)$8,300Cost of goods soldGross profit(3.500)4.800Operating expenses (includes $600 depreciation)13.000)Operating profits$1.800Interest expense(380)Earnings before taxes$1,420Income taxes (20%)(284)Net income$1.136Calculate the following ratios:Current ratioTimes interest earnedInventory turnoverTotal asset turnoverOperating return on assetsDebt ratioAverage collection periodFixed-asset turnoverOperating profit marginReturn on equity

Name: pe and Enya Guinea Coconut Company are as follows:$ 550Balance Sheet
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Description: pe and Enya Guinea Coconut Company are as follows:$ 550Balance Sheet ($000)2,500Cash1.100Accounts receivable$ 4,150InventoriesCurrent assets4,700Net fined assets$8.850Total assets$1,200Accounts payable680Accrued expenses320Short-term notes payable$2

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X4-6. (Ratio analysis) The balance sheet and ine M Guinea Coconut Company are as follows: Balance Sheet ($000) New $ 550 2,500 Cash 1.100 $ 4,150 Accounts receivable Inventories Current assets 4,700 Net fined assets $8.850 Total assets $1,200 Accounts payable 680 Accrued expenses 320 Short-term notes payable $2.200 Current liabilities 2,300 Long-term debt 4,350 $8,850 Owners' equity Total liabilities and owners' equity Income Statement ($000) Sales (all credit) $8,300 Cost of goods sold (3.500) Gross profit 4.800 Operating expenses (includes $600 depreciation) Operating profits (3.000) $1,800 Interest expense (380) $1,420 Earnings before taxes Income taxes (20%) (284) Net income $1.136 Calculate the following ratios: Current ratio Times interest earned Inventory turnover Total asset turnover Operating profit margin Operating return on assets Debt ratio Average collection period Fixed-asset turnover Return on equity

X4-6. (Ratio analysis) The balance sheet and ine M Guinea Coconut Company are as follows: Balance Sheet ($000) New $ 550 2,500 Cash 1.100 $ 4,150 Accounts receivable Inventories Current assets 4,700 Net fined assets $8.850 Total assets $1,200 Accounts payable 680 Accrued expenses 320 Short-term notes payable $2.200 Current liabilities 2,300 Long-term debt 4,350 $8,850 Owners' equity Total liabilities and owners' equity Income Statement ($000) Sales (all credit) $8,300 Cost of goods sold (3.500) Gross profit 4.800 Operating expenses (includes $600 depreciation) Operating profits (3.000) $1,800 Interest expense (380) $1,420 Earnings before taxes Income taxes (20%) (284) Net income $1.136 Calculate the following ratios: Current ratio Times interest earned Inventory turnover Total asset turnover Operating profit margin Operating return on assets Debt ratio Average collection period Fixed-asset turnover Return on equity

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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pe and En
ya Guinea Coconut Company are as follows:
$ 550
Balance Sheet ($000)
2,500
Cash
1.100
Accounts receivable
$ 4,150
Inventories
Current assets
4,700
Net fined assets
$8.850
Total assets
$1,200
Accounts payable
680
Accrued expenses
320
Short-term notes payable
$2.200
Current liabilities
2,300
Long-term debt
Owners equity
Total liabilities and owners' equity
4.350
$8850
Income Statement ($000)
Sales (all credit)
$8,300
Cost of goods sold
Gross profit
(3.500)
4.800
Operating expenses (includes $600 depreciation)
13.000)
Operating profits
$1.800
Interest expense
(380)
Earnings before taxes
$1,420
Income taxes (20%)
(284)
Net income
$1.136
Calculate the following ratios:
Current ratio
Times interest earned
Inventory turnover
Total asset turnover
Operating return on assets
Debt ratio
Average collection period
Fixed-asset turnover
Operating profit margin
Return on equity

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