Paper 3 Computer Problems

Paper 3 Computer Problems - Chapter 3: Ratio Analysis...

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Chapter 3: Ratio Analysis Problem 3.1 Sally Corporation's Financial Statements for 2007 are given below: Cash $60 Accounts Payable $20 Marketable Securities $40 Notes Payable $60 Accounts Receivable $20 Accrued Taxes $80 Inventories $80 Accrued Wages $40 Total Current Assets $200 Total Current Liabilities $200 $345 Long-term Debt $100 Accumulated Depreciation $45 Common Stock $100 $300 Retained Earnings $100 Total Assets $500 Total Claims on Assets $500 Net Sales $1,000 Less: Cost of Goods Sold $600 Gross Profit $400 Less: Operating Expenses Selling Expenses $100 $50 Lease Payments $50 Gross Operating Income $200 Less: Depreciation $50 Net Operating Income $150 Less: Interest $50 Net Income Before Taxes $100 Less: Taxes $50 Net Income After Taxes $50 Compute the following ratios: current ratio, quick ratio, debt ratio, times interest earned, inventory turnover, receivable turnover, average collection period, asset turnover, profit margin on sales, return on equity,
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Paper 3 Computer Problems - Chapter 3: Ratio Analysis...

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