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(Answered) Ratio Analysis


KING CORPORATION;Partial Balance Sheet;December 31,2009;Assets;Current assets;Cash $33,493;Marketable securities $215,147;Trade receivables, less allowance of $6,000 $255,000;Inventories, LIFO $523,000;Prepaid expenses $26,180;Total current assets $1,052,820;Liabilities;Current liabilities;Trade accounts payable $103,689;Notes payable (primarily to banks) and commercial paper $210,381;Accrued expenses and other liabilities $120,602;Income taxes payable $3,120;Current maturities of long-term debt $22,050;Total current liabilities $459,842;KING CORPORATION;Partial Income Statement;For Year Ended December 31, 2009;Net sales $3,050,600;Miscellaneous income $45,060;$3,095,660;Cost and expenses;Cost of sales $2,185,100;Selling, general, and administrative expenses $350,265;Interest expense $45,600;Income taxes $300,000;$2,880,965;Net income $214,695;The trade receivables at December 31, 2008, were $280,000, net of an allowance of $8,000, for a gross receivables figure of $288,000. The Inventory at December 31,2008, was $565,000;Compute the following;a. Working capital;b. Current ratio;c. Acid-test ratio;d. Cash ratio;e. Days' sales in receivables;f. Accounts receivable turnover in days;g. Days' sales in inventory;h. Inventory turnover in days;i. Operating cycle
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Ratio Analysis

 


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