60.1K

Verified Solution

Link Copied!

= Homework: 2-1 MyFinanceLab Assignment Question 13, P4-25 (similar to) Part 1 of 10 HW Score: 50%, 25 of 50 points O Points: 0 of 4 Save (Calculating financial ratios) The balance sheet and income statement for the J. P. Robard Mfg. Company are as follows: Calculate the following ratios: - X Data table Current ratio Times interest earned Inventory turnover Total asset turnover Operating profit margin Operating return on assets Debt ratio Average collection period Fixed asset turnover Return on equity J. P. Robard Mfg., Inc. Balance Sheet($000) The company's current ratio is (Round to two decimal places.) Cash Accounts receivable Inventories Current assets Net fixed assets Total assets $480 2,070 960 $3,510 4,530 $8,040 Accounts payable Accrued expenses Short-term notes payable Current liabilities Long-term debt Owners' equity Total liabilities and owners' equity (Click on the icon in order to copy its contents into $1,010 610 300 $1,920 2,090 4,030 $8,040 spreadsheet.) J. P. Robard Mfg., Inc. Income Statement ($000) Net sales (all credit) $8,010 Cost of goods sold (3,250) Gross profit $4,760 Operating expenses (includes $500 depreciation) (2,980) Net operating income $1,780 Interest expense (355) Earnings before taxes $1,425 Income taxes (40%) Net income $855 (Click on the icon in order to copy its contents into a spreadsheet.) (570) Print Done

Answer & Explanation Solved by verified expert

See Answer