Help me please Using the information below, what is Puppy Company's debt to total assets ratio for2019?The following financial statement accounts and balances are for Puppy Company:CashAccounts ReceivableTotal InventoryPrepaid ExpensesTotal Current AssetsProperty and EquipmentTotal AssetsTotal Current LiabilitiesTotal DebtTotal LiabilitiesTotal Shareholders'EquitySales / Net Revenue /NetCredit SalesCOGS (Cost of GoodsSold)Gross Profit201982,3706,555327,7504,288420,963290,750711,713111,450|45,000156,450555,263201871,7405,963364,6805,382447,765250,612698,377128,85750,512179,369519,0082,250,0002,064,6761,370,5001,299,092|765,584Net Income / Profit879,500207,850||250,094Here are some formulas that you may find helpful:ItemFormulaDesired ResultCurrent RatioQuick Ratio (Acid-test)Current assets / Current liabilitiesCash+ short-term investments + AR /Current liabilitiesSales /HigherHigherReceivables turnoverHigher Here are some formulas that you may find helpful:ItemFormulaDesired ResultCurrent assets / Current liabilitiesCash+ short-term investments + AR /Current liabilitiesSales /Average gross accounts receivable|Days in year / Receivables turnover|Cost of goods sold / Average inventoryDays in year / Inventory turnoverTotal liabilities / Total assetsCurrent RatioQuick Ratio (Acid-test)HigherHigherReceivables turnoverHigherCollection PeriodInventory turnoverDays sales in inventoryDebt to Total AssetsLower|HigherLowerLowerDebt to EquityTotal liabilities /Owner's (Shareholders') EquityGross Profit/ Total revenueLowerGross Margin (%) (GrossProfit Margin)Profit Margin (%)(Net Margin)Asset turnoverReturn on AssetsHigherNet profit / Total revenueHigherNet sales / Average total assetsNet profit / average total assetsProfit / Average shareholders' equityHigherHigherReturn on Equity (ROE)Higher45%O 22%220%5%

The question is based on the concept of ratio analysis. Ratio analysis is a quantitative method to…

Using the information below, what is Puppy Company's debt to total assets ratio f 2019? The following financial statement accounts and balances are for Puppy Company: Cash Accounts Receivable Total Inventory Prepaid Expenses Total Current Assets Property and Equipment Total Assets Total Current Liabilities Total Debt Total Liabilities Total Shareholders' Equity Sales / Net Revenue / Net Credit Sales COGS (Cost of Goods Sold) Gross Profit 2019| 82,370 6,555 327,750 4,288 420,963 290,750 711,713 111,450 45,000 156,450 555,263 2018 71,740 5,963 364,680 5,382 447,765| 250,612 698,377 128,857 50,512 179,369 519,008 2,250,000 2,064,676| 1,370,500 1,299,092 765,584 Net Income / Profit 879,500 207,850 250,094

Using the information below, what is Puppy Company's debt to total assets ratio f 2019? The following financial statement accounts and balances are for Puppy Company: Cash Accounts Receivable Total Inventory Prepaid Expenses Total Current Assets Property and Equipment Total Assets Total Current Liabilities Total Debt Total Liabilities Total Shareholders' Equity Sales / Net Revenue / Net Credit Sales COGS (Cost of Goods Sold) Gross Profit 2019| 82,370 6,555 327,750 4,288 420,963 290,750 711,713 111,450 45,000 156,450 555,263 2018 71,740 5,963 364,680 5,382 447,765| 250,612 698,377 128,857 50,512 179,369 519,008 2,250,000 2,064,676| 1,370,500 1,299,092 765,584 Net Income / Profit 879,500 207,850 250,094

SWFT Essntl Tax Individ/Bus Entities 2020

23rd Edition

ISBN:9780357391266

Author:Nellen

Publisher:Nellen

Chapter3: Taxes On The Financial Statements

Section: Chapter Questions

Problem 1BD

See similar textbooks

Similar questions

Consider the following company’s balance sheet and income statement. Number of days in inventory. Debt-to-asset ratio. Cash-flow-to-debt ratio.
You have been provided with Leonard Corporation's partial Statement of Financial Position and the Statement of Comprehensive Income for the year ended December 31, 2021. Leonard Corporation Partial Statement of Financial Position For the Year Ended December 31, 2021 Accounts receivable -net Prepaid expenses Inventory Property, Plant & Equipment Accumulated Depreciation Accounts payable Income taxes payable Deferred revenue 2021 Sales....... Cost of goods sold.. Gross Margin. Selling, general and admin Depreciation expense $440,000 482,000 45,000 31,000 825,000 810,000 2,475,000 2,105,000 2020 (866,000) (823,000) 184,000 197,000 38,000 35,000 47,000 42,000 Leonard Corporation Statement of Comprehensive Income For the Year Ended December 31, 2021 Interest expense..... Gain on sale of PPE Net income before taxes Income Tax Expense Net income and comprehensive income... $3,560,000 1,950,000 1,610,000 (595,000) (320,000) (115,300) 55,400 635,100 95,300 .$539,800 Additional information:…
Solve and perform the different financial ratios using the financial statements of XYZ Company for the year 2021. 1. Current Ratio 2. Quick Ratio 3. Receivables Turnover 4. Inventory Turnover 5. Debt Ratio 6. Equity Ratio 7. Times Interest Earned 8. Gross Profit Margin 9. Operating Profit Margin 10. Net Profit Margin
Using the fiscal year end 2020 annual report for General Mills, Inc. and the figures from the 2020 annual report as noted below, calculate the financial ratios for 2020 and 2019 indicated using the EXCEL template provided:1. Gross profit percentage2. Return on sales3. Asset turnover 4. Return on assets5. Return on common stockholders’ equity6. Current ratio7. Quick ratio8. Operating-cash-flow-to-current-liabilities ratio9. Accounts receivable turnoverTotal assets 2020 = $30,806.7Total stockholders’ equity 2020 = $8,349.5Total current liabilities 2020 = $7,491.5Accounts receivable 2020 = $1,615.1Inventory 2020 = $1,426.3Year-end closing stock price May 2020 = $58.80Year-end closing stock price May 2019 = $53.56 To calculate averages use (current year balance + poor year balance) / 2) Round percentages to 1 decimal place; round other answers to 2 decimal places.
The following condensed information is reported by World of Stamp Collectibles. Income Statement Information Sales revenue Cost of goods sold Net income Balance Sheet Information Current assets Long-term assets Total assets Current liabilities Long-term liabilities Common stock Retained earnings Total liabilities and stockholders' equity Required: 1. Calculate the following profitability ratios for 2024: 2. Determine the amount of dividends paid to shareholders in 2024. Required 1 a. Gross profit ratio b. Return on assets c. Profit margin d. Asset turnover e. Return on equity % % % 2024 Complete this question by entering your answers in the tabs below. times % $7,612,000 5,031,532 321,780 Required 1 $1,530,000 2,130,000 $3,660,000 $1,130,000 1,570,000 730,000 230,000 $3,660,000 Required 2 J Calculate the following profitability ratios for 2024: (Round your answers to 1 decimal place.) Profitability Ratios 2023 Required 2 > $7,700,000 5,200,000 178,000 $1,430,000 1,830,000 $3,260,000…
Not Graded Using the fiscal year end 2020 annual report for General Mills, Inc. and the figures from the 2020 annual report as noted below, calculate the financial ratios for 2020 and 2019 indicated using the EXCEL template provided:1. Gross profit percentage2. Return on sales3. Asset turnover 4. Return on assets5. Return on common stockholders’ equity6. Current ratio7. Quick ratio8. Operating-cash-flow-to-current-liabilities ratio9. Accounts receivable turnoverTotal assets 2020 = $30,806.7Total stockholders’ equity 2020 = $8,349.5Total current liabilities 2020 = $7,491.5Accounts receivable 2020 = $1,615.1Inventory 2020 = $1,426.3Year-end closing stock price May 2020 = $58.80Year-end closing stock price May 2019 = $53.56
Help me please
How to Compute the following ratios i. Gross Profit % ii. Operating profit % iii. Net Profit % iv. Current Ratio v. Acid Test Ratio vi. Cash Ratio vii. Cash Operating Cycle in days viii. Average Debt collection Period in days ix. Average Creditor Payment Period in days x. Average Stock Holding Period in days xi. Total liabilities to Total Equity Ratio xii. Interest Cover Ratio xiii. Return on Total Assets xiv. Return on Equity
Refer to the following selected financial information from WorkFit Corporation. Compute the company's acid-test ratio. Cash Short-term investments Accounts receivable, net Merchandise inventory Prepaid expenses Current liabilities Multiple Choice O O O 2.76. 0.91. 1.10. 2.67. 1.63. $ 42,250 59,180 79,500 115,000 9,700 111,000
Instructions Using the financial statements and additional information, compute the following ratios for the El Camino Company for 2021. Show all computations. Computations 1. Current ratio 2. Return on common stockholders' equity 3. Price-earnings ratio 4. Inventory turnover 5. Accounts receivable turnover 6. Times interest earned 7. Profit margin 8. Days in inventory 9. Payout ratio 10. Return on assets
Mirabel Corporation's financial statements for 2020 follow: Sales...... Cost of goods sold. Gross profit.... Operating expenses. Income before taxes. Income taxes.. Net income.. MIRABELCORPORATION Statement of Income For the Year Ended July 31, 2020 Cash. Receivables. Inventory...... MIRABEL CORPORATION Statement of Financial Position July 31, 2020 Property, plant and equipment (net). Total assets. Current liabilities. Non-current liabilities. Common shares. Retained earnings.. Total liabilities and shareholders' equity. Calculate the current ratio (use up to two decimal places) $1,575,000 (976,500) 598,500 (236,250) 362,250 (144,900) $217,350 49,000 143,900 167,800 682,800 $1,043,500 $ 131,000 450,000 250,000 212,500 $1,043,500
[The following information applies to the questions displayed below.] Selected comparative financial statements of Korbin Company follow. KORBIN COMPANY Comparative Income Statements For Years Ended December 31, 2020, 2019, and 2018 2928 Sales Cost of goods sold Gross profit Selling expenses Administrative expenses Total expenses Income before taxes Income tax expense Net income Assets Current assets Long-term investments Plant assets, net Total assets Liabilities and Equity Current liabilities Common stock Other paid-in capital Retained earnings Total liabilities and equity KORBIN COMPANY Comparative Balance Sheets December 31, 2020, 2019, and 2018 2020 Sales Cost of goods sold Gross profit Selling expenses Administrative expenses Total expenses Income before taxes Income tax expense Net income Assets Current assets Long-term investments Plant assets, net Total assets $ 481,536 289,885 191,651 68,378 43.338 111,716 79,935 14,868 $ 65,067 Liabilities and Equity Current liabilities…