Question

In: Accounting

Period Ending: 12/31/2017 Period Ending: 12/31/2017 12/31/2014 Cash and Cash Equivalents $396,900 Total Revenue $15,380,800 $2,356,600...

Period Ending:

12/31/2017

Period Ending:

12/31/2017

12/31/2014

Cash and Cash Equivalents

$396,900

Total Revenue

$15,380,800

$2,356,600

Short-Term Investments

$0

Cost of Revenue

$13,101,100

$1,975,000

Net Receivables

$2,725,300

Gross Profit

$2,279,700

$381,600

Inventory

$0

Operating Expenses

Other Current Assets

$465,700

Research and Development

$0

$0

Total Current Assets

$3,587,900

Sales, General and Admin.

$1,656,500

$422,500

Long-Term Investments

$0

Non-Recurring Items

$0

$0

Fixed Assets

$2,663,700

Other Operating Items

$0

$0

Goodwill

$4,563,600

Operating Income

$623,200

($40,900)

Intangible Assets

$1,435,300

Add'l income/expense items

($78,200)

($800)

Other Assets

$351,100

Earnings Before Interest and Tax

$545,000

($41,700)

Deferred Asset Charges

$0

Interest Expense

$284,300

$48,000

Total Assets

$12,601,600

Earnings Before Tax

$260,700

($89,700)

Accounts Payable

$2,776,500

Income Tax

($99,500)

($26,100)

Short-Term Debt / Current Portion of Long-Term Debt

$103,700

Minority Interest

($20,000)

$0

Other Current Liabilities

$116,900

Equity Earnings/Loss Unconsolidated Subsidiary

$0

$0

Total Current Liabilities

$2,997,100

Net Income-Cont. Operations

$340,200

($63,600)

Long-Term Debt

$4,417,500

Net Income

$340,200

($63,600)

Other Liabilities

$596,100

Net Income Applicable to Common Shareholders

$312,400

($107,400)

Deferred Liability Charges

$580,900

Misc. Stocks

$0

Minority Interest

$405,600

Total Liabilities

$8,591,600

Common Stocks

$100

Capital Surplus

$3,590,000

Retained Earnings

($42,600)

Treasury Stock

$0

Other Equity

$15,700

Total Equity

$3,604,400

Total Liabilities & Equity

$12,196,000

RATIOS FOR PERIOD ENDING DEC 31 2017

CURRENT:

QUICK:

FIXED ASSETS TO LONG TERM LIABILITIES:

NUMBER OF TIMES INTREST CHARGES ARE EARNED:

RATE EARNED ON TOTAL ASSETS:

EARNING PER SHARE ON COMMON STOCK:

P/E RATIO:

Solutions

Expert Solution

1. Current ratio = total current assets/total current liabilities

= 3,587,900/2,997,100

= 1.20

2. Quick ratio = (cash+net receivables)/total current liabilities

= (396,900+2,725,300)/2,997,100

= 1.04

3. Fixed assets to long term liabilities = total tangible fixed assets/ long term liabilities

Total fixed assets = 2,663,700. Long term liabilities = long term debt+other liabilities+deferred liability charges = 4,417,500+596,100+580,900 = $5,594,500

Thus the ratio = 2,663,700/5,594,500 = 0.48

4. No. of times interest charges are earned = Income before interest and taxes/Interest expense

= 545,000/284,300

= 1.92

5. Rate earned on total assets = Income before interest and taxes/total assets = 545,000/12,601,600

= 0.0432 or 4.32%

6. Earnings per share = net income applicable to common shareholders/no. of shares

The no. of shares is not provided in the question and hence this ratio cannot be computed

7. P/E ratio = price per share/EPS

Price per share not provided and so this ratio cannot be computed.

ekkarill92 answered 1 year ago
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