Case 5-23 Net income 16000 Short term note 5000 Bonds interest rate 0.08 Cash balance 15000 Profit m

Case 5-23
Net income 16000
Short term note 5000
Bonds interest rate 0.08
Cash balance 15000
Profit margin on sales 0.05
Return on assets 0.075
Gross profit margin 0.4
Inventory turnover ratio 6
Receivables turnover ratio 25
Acid test ratio 0.9
Current ratio2
Return on shareholders equity 0.1
Debt to equity ratio 0.33
Times interest earned 12
Integrating Case 5-23

Balance Sheet

Assets
Cash $ 15,000
Accounts receivable (net) (e)
Inventory (d)
Prepaid expenses and other current assets (i)
Current assets (h)
Property, plant, and equipment (net) (j)
$ (b)
Liabilities and
Shareholders’ Equity
Accounts payable $ (g)
Short-term notes 5,000
Current liabilities (f)
Bonds payable (l)
Shareholders’ equity (k)
$ (b)
Income Statement

Sales (a)
Cost of goods sold (c)
Gross profit (c)
Operating expenses (o)
Interest expense (m)
Tax expense (n)
Net
income $

 

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