Category Prior year Current year Accounts payable 41,400 45,000 Accounts receivable 115,200 122,400 Accruals 16,200 13,500...

Category	Prior year	Current year
Accounts payable	41,400	45,000
Accounts receivable	115,200	122,400
Accruals	16,200	13,500
Additional paid in capital	200,000	216,660
Cash	???	???
Common Stock @ par value	37,600	42,000
COGS	131,400	175,511.00
Depreciation expense	21,600	23,085.00
Interest expense	16,200	16,974.00
Inventories	111,600	115,200
Long-term debt	135,000	138,052.00
Net fixed assets	378,667.00	399,600
Notes payable	59,400	64,800
Operating expenses (excl. depr.)	50,400	65,892.00
Retained earnings	122,400	136,800
Sales	255,600	335,712.00
Taxes	9,900	18,931.00

What is the current year's return on assets (ROA)?

What is the current year's return on equity (ROE)?

What is the current year's entry for long-term debt on a common-sized balance sheet?

Solutions

Expert Solution

ROA (Return of asset) of current year

ROA (Return on asset) =operating income /total assets

Operating income =gross profit -operating exepenses-depreciation

Gross profit =sales - cost of goods sold

Sales =335,712

Cost of goods sold = 175,511

Gross profit =160201

Operating expenses =65,892

Depreciaition =23,085

Operating income =160201-65,892-23,085

=71224

Total asset=Accounts receivable+Accruals+Inventories+Net fixed assets

=122,400+13,500+115,200+399,600

=650700

ROA =71224/650700

=.1095 or 10.95%

Note

Accruals are treated as current asset

jeff jeffy answered 2 years ago

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