Question
In: Accounting
The following information pertains to Ortiz Company. Assume that all balance sheet amounts represent both average...
The following information pertains to Ortiz Company. Assume that all balance sheet
amounts represent both average and ending balance figures. Assume that all sales were
on credit.
Assets
Cash and short-term investments
$ 45,000
Accounts receivable (net)
25,000
Inventory
12,000
Property, plant and equipment
210,000
Total Assets
$292,000
Liabilities and Stockholders’ Equity
Current liabilities
$ 50,000
Long-term liabilities
90,000
Stockholders’ equity—common
152,000
Total Liabilities and Stockholders’ Equity
$292,000
Income Statement
Sales
$ 120,000
Cost of goods sold
66,000
Gross profit
54,000
Operating expenses
30,000
Net income
$ 24,000
Number of shares of common stock
6,000
Market price of common stock
$20
Dividends per share
.50
What is the current ratio? What is the accounts receivable turnover? What is the inventory turnover? What is the return on assets? What is the profit margin? What is the return on common stockholders’ equity? What is the price-earnings ratio?
Solutions
Expert Solution
Current Ratio = Current Assets/ Current Liabilities =>(Cash+
Account receivable+ Inventory)/Current liabilities. =>
(45,000+25000+12000)/50000 = 82000/50000 = 
If you have any doubts please comment on the answer
ekkarill92 answered 2 years agoRelated Solutions
The following information pertains to Ortiz Company. Assume that all balance sheet amounts represent both average...
The following
information pertains to Ortiz Company. Assume that all balance
sheet amounts represent both average and ending balance figures.
Assume that all sales were on credit.
Assets
Cash and short-term investments
$ 45,000
Accounts receivable (net)
30,000
Inventory
20,000
Property, plant and equipment
210,000
Total Assets
$305,000
Liabilities and Stockholders' Equity
Current liabilities
$ 50,000
Long-term liabilities
95,000
Stockholders' equity—common
160,000
Total Liabilities and Stockholders' Equity
$305,000
Income Statement
Sales
$ 110,000
Cost of goods sold
66,000
Gross profit...
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Assets
Investments $1500
Insurance assets 300
Total 1800
Liabilities and equity
Insurance claims 700
Unearned premiums 140
Long-term debt 150
Equity 810
Total 1800
Investments are available-for-sale securities marked to
market.
The company reported the following income statement for 2010
Premium revenue 365
Investment income 60
Realized gains on investments 80
Total revenue 505
Insurance losses and expenses 405
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AssetsLiabilities and Equity in millions
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T-notes $ 125.00, 0.9 year
T-bonds $ 100.00
Loans $2,724.00
Deposits $2,092.00, 1 year
Federal funds $ 282.00 0.01 year
Equity $ 670.00
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T-bills
90
0.5
T-notes
55
0.9
T-bonds
176
To be calculated
Loans
2724
7
Deposits
2092
1
Federal Funds
238
0.01
Equity
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Operating expenses Salaries (all cash)$ 85
Net
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2020 2019
Current assets
Cash
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Short‐term invest.
100 200
$1,350
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Liabilities
Borrowings
600 1,000
Stockholders’ equity
Common
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200 300
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550 500
750 800
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EQUITY IS A PLUG IN NUMBER)
ITEM
2010
2011
SALES
10,000
12,000
DEPRECIATION
3,000
3,000
COST OF GOODS SOLD
2,000
2,000
OTHER EXPENSES
3,000
4,000
INTEREST
1,000
1,000
CASH
1,000
1,000
ACCOUNTS RECEIVABLE
3,000
3,000
S.T. NOTES PAYABLE
1,000
1,000
L.T. DEBT
10,000
11,000
NET FIXED ASSETS
20,000
20,000
ACCOUNTS PAYABLE
2,000
2,000
INVENTORY
3,000
3,000
DIVIDENDS
600
600...
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Common
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300,000
Paid-In Capital in Excess of Par -
Preferred
200,000
Paid-In Capital in Excess of Par -
Common
400,000
Retained
Earnings
500,000
Treasury
Stock
100,000
Paid In Capital from Treasury
Stock
50,000
Given the above what is total paid in capital?
Select one:
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c. $1,000,000
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Company Balance Sheet
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Company Income Statement
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