The following selected information (in thousands) was taken from Crane Collections Ltd.'s December 31 statement of financial position: \table[[, 2024, 2023,], [Current assets,,,], [Cash, $1,289,$1,825,], [Accounts receivable, 2,576,1,890,], [Inventories, 1, 441, 1,212,], [Other current assets,386, 230,], [Total current assets, $5,692,, $5,157
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![The following selected information (in thousands) was taken from Crane Collections Ltd.'s December 31 statement of
financial position: \table[[, 2024, 2023,], [Current assets,,,], [Cash, $1,289,$1,825,], [Accounts receivable,
2,576,1,890,], [Inventories, 1, 441, 1,212,], [Other current assets,386, 230,], [Total current assets, $5,692,, $5,157](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F04fcbe2f-59ee-4415-ba56-2cfeea4cbabc%2F5715b050-82fd-4f5f-ac4c-56bbbaf08eb1%2Fe5mzy5_processed.png&w=3840&q=75)
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- Use the table for the questions below. Consider the following balance sheets: PharmPic DosageDoc Reported Dec. 31, 2020 2021 2020 2021 Assets Cash 224,224 200,400 301,540 230,876 Accounts Receivable 129,000 118,125 130,316 110,345 Inventories 154,890 171,147 184,717 186,000 Total Current Assets 508,114 489,672 616,573 527,221 Net Property Plant & Equipt. 421,162 431,795 456,462 460,000 Patents and Trademarks 212,770 210,110 201,348 199,990 Total Assets 1,142,046 1,131,577 1,274,383 1,187,211 Liabilities and Stockholders' Equity: Short Term Borrowings (Bank) 257,000 264,023 302,453 270,000 Accounts Payable 212,900 209,000 267,004 225,000 Current Portion of LTD (Interest Bearing Debt) 39,532 29,081 32,611 46,048 Total Current Liabilities 509,432 502,104 602,068…Suppose these selected condensed data are taken from recent balance sheets of Bob Evans Farms (in thousands). Cash Accounts receivable Inventory Other current assets Total current assets Total current liabilities 2022 Current ratio $13,057 25,199 29,385 19,579 $87,220 $249,200 2021 2022 $8,124 19,231 31,244 10,746 Compute the current ratio for each year. (Round answers to 2 decimal places, e.g. 2.12.) $69,345 $301,500 :1 2021 :1Ahmad Co. had the following balances on Dec,31 2019: cash flow provided by operating activities $ 120000, cash flow used by operating activities $ 75000, liabilities $ 100000, non-current liabilities $ 60000, compute the Financial Liquidity ratio: Select one: a..75 b..45 C..888 d. 1.125
- The following data were taken from the comparative balance sheet of Osborn Sisters Company for the years ended December 31, 2019 and December 31, 20Y8: Dec. 31, 20Y9 Dec. 31, 20YS Cash $337,500 $254,100 Temporary investments 360,200 278,400 Accounts and notes receivable (net) 331,300 303,500 Inventories 463,100 376,200 Prepaid expenses 173,900 107,800 Total current assets $1,666.000 $1,320,000 Accounts payable $284,200 $308.000 Accrued liabilities 205,800 132,000 Total current Fabilities $490,000 $440,000 a. Determine for each year (1) the working capital, (2) the current ratio, and (3) the quick ratio. Round ratios to one decimal place. 20Y9 20Y8 %24 Working capital Current ratio Quick ratioThe accounting records of Nettle Distribution show the following assets and liabilities as of December 31,2018 and 2019.December 31 2018 2019Cash . . . . . . . . . . . . . . . . . . . . . . . . $ 64,300 $ 15,640Accounts receivable . . . . . . . . . . . 26,240 19,100Office supplies . . . . . . . . . . . . . . . . 3,160 1,960Office equipment . . . . . . . . . . . . . . 44,000 44,000Trucks . . . . . . . . . . . . . . . . . . . . . . . 148,000 157,000December 31 2018 2019Building . . . . . . . . . . . . . . . . . . . . . $ 0 $80,000Land . . . . . . . . . . . . . . . . . . . . . . . . 0 60,000Accounts payable . . . . . . . . . . . . . 3,500 33,500Note payable . . . . . . . . . . . . . . . . . 0 40,000Required1. Prepare balance sheets for the business as of December 31, 2018 and 2019. Hint: Report only total equityon the balance sheet and remember that total equity equals the difference between assets and liabilities.2. Compute net income for 2019 by comparing total equity amounts for these…The general ledger of Zips Storage at January 1, 2021, includes the following account balances:Accounts Debits CreditsCash $ 24,600Accounts Receivable 15,400Prepaid Insurance 12,000Land 148,000Accounts Payable $ 6,700Deferred Revenue 5,800Common Stock 143,000Retained Earnings 44,500Totals $200,000 $200,000The following is a summary of the transactions for the year:1. January 9 Provide storage services for cash, $134,100, and on account, $52,200.2. February 12 Collect on accounts receivable, $51,500.3. April 25 Receive cash in advance from customers, $12,900.4. May 6 Purchase supplies on account, $9,200.5. July 15 Pay property taxes, $8,500.6. September 10 Pay on accounts payable,…
- The condensed financial statements of Ivanhoe Company for the years 2020-2021 are presented below: (See Images) Compute the following financial ratios by placing the proper amounts for numerators and denominators. (Round per unit answers to 2 decimal places, e.g. 52.75.) (a) Current ratio at 12/31/21 $ $ (b) Acid test ratio at 12/31/21 $ $ (c) Accounts receivable turnover in 2021 $ $ (d) Inventory turnover in 2021 $ $ (e) Profit margin on sales in 2021 $ $ (f) Earnings per share in 2021 $ (g) Return on common stockholders’ equity in 2021 $ $ (h) Price earnings ratio at 12/31/21 $ $ (i) Debt to assets at 12/31/21 $ $ (j) Book value per share at 12/31/21 $The following data as of June 1, 2020 were taken from the records of X: Cash 21,000 Accounts Receivable 244,536 Inventories 130,035 Furniture & Fixtures 60,345 Land 613,000 Other assets 12,000 Accounts Payable 188,940 Notes Payable 210,000 X, capital 681,.976 And the following accounts and balances were taken from the records of Y: Cash P 32,354 Accounts Receivable 577,890 Inventories 270,102 Furniture and Fixtures 44,789 Building 438,267 Other Assets 13.600 Accounts Payable 253,650 Notes Payable 355,000 Y. capital 768,352 X & Y agreed to form a partnership by contributing their respective assets and equities subject to the following adjustments: a Inventories of P6,500 and P6,700 are worthless in X & Y respective books. b) Accounts Receivable of P25,000 X's book and P30,000 in Ys book are uncollectible o Other assets of P4,000 and P6,000 in X and Y's respective books are to be written off. How much capital does partner X have?E9-6 Current Position Analysis Obj. 3 .................. The following data were taken from the comparative balance sheet of Icon Living, Inc., for the years ended December 31, 20Y9 and December 31, 20Y8: Cash Temporary investments Accounts and notes receivable (net) Inventories Prepaid expenses Total current assets Accounts payable Accrued liabilities Total current liabilities ▸ Details Dec. 31, 20Y9 $ 75,000 125,000 250,000 425,000 25,000 $ 900,000 $ 350,000 25,000 $ 375,000 Dec. 31, 2018 $ 50,000 75,000 200,000 305,000 20,000 $ 650,000 $ 230,000 20,000 $ 250,000 a. Determine for each year (1) the working capital, (2) the current ratio, and (3) the quick ratio. b. What conclusions can be drawn from these data?
- Suppose McDonald's 2022 financial statements contain the following selected data (in millions). Current assets Total assets Current liabilities Total liabilities (a1) a. b. Compute the following values. C. $3,416.0 Interest expense 30,224.0 d. 2,988.0 16,191.0 Income taxes Net income $473.0 1,936.0 4,551.0 Current ratio. (Round to 2 decimal places, e.g. 6.25:1.) Working capital. (Round to 1 decimal place, e.g. 5,275.5) Debt to assets ratio. (Round to 0 decimal places, e.g. 62%.) Times interest earned. (Round to 2 decimal places, e.g. 6.25.) millions :1 % timesMaguindanao Computer, Inc., reports the following statement of financial position amounts as of June 30,2020 Current asset P 2,440,500 Noncurrent assets 6,285,500 Current liabilities 1,386,000 Noncurrent liabilities 900,000 Owner’s equity 6,440,000 A review of account balances reveals the following data a. An analysis of current assets discloses the following: Cash P 422,500 Investment securities-trading 600,000 Trade accounts receivable 568,000 Inventories, including advertising supplies of P20,000 850,000 2,440,500 b. Noncurrent assets include the following: Property, plant and equipment: Depreciated book value (cost P 6,560,000) 5,490,000 Deposit with a supplier for merchandise…A condensed balance sheet for Simultech Corporation and a partially completed vertical analysis are presented below. Complete the vertical analysis by computing each missing line item as a percentage of total assets. (Round your answers to the nearest whole percent.) SIMULTECH CORPORATION Balance Sheet (summarized) January 31 (in millions of U.S. dollars) Cash $433 29 % Current Liabilities $409 27 % Accounts Receivable 294 19 Long-term Liabilities 495 33 Inventory 206 14 Total Liabilities 904 Other Current Assets 109 Common Stock 118 Property and Equipment 27 2 Retained Earnings 492 32 Other Assets 445 29 Total Stockholders’ Equity 610 Total Assets $1,514 100 % Total Liabilities & Stockholders’ Equity $1,514 100 % 2A. What percentage of Simultech’s total assets relate to inventory? (Round your answer to the nearest whole percent.) 2B. What percentage of Simultech’s total assets relate to property…
