Question

In: Finance

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 3 years ago
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