The financial statements for Tyler? Toys, Inc. ?Calculate the current? ratio, quick? ratio, and cash ratio...

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Finance

The financial statements for Tyler? Toys, Inc. ?Calculate thecurrent? ratio, quick? ratio, and cash ratio for Tyler Toys for2013 and 2014. Should any of these ratios or the change in a ratiowarrant concern for the managers of Tyler Toys or the?shareholders?
Tyler Toys, Inc.
Income Statement for Years Ending December 31, 2013 and2014
2014
2013
Revenue
$14,147,946
$13,566,699
Cost of goods sold
$-8,447,605
$-8,132,285
Selling, general, and
administrative expenses
$-997,233
$-980,532
Depreciation
$-1,497,455
$-1,472,391
EBIT
$3,205,653
$2,981,491
Interest expense
$-376,963
$-355,460
Taxes
$-1,074,902
$-997,892
Net income
$1,753,788
$1,628,139
Tyler Toys, Inc.
Balance Sheet as of December 31, 2013 and2014
ASSETS
2014
2013
LIABILITIES
2014
2013
Current assets
Current liabilities
Cash
$191,815
$186,115
Accounts payable
$1,546,821
$1,456,760
Investments
$180,008
$120,687
Short-term debt
$311,761
$332,580
Accounts receivable
$667,516
$631,416
Total current liabilities
$1,858,582
$1,789,340
Inventory
$587,088
$564,107
Long-term liabilities
Total current assets
$1,626,427
$1,502,325
Debt
$7,286,898
$6,603,245
Long-term assets
Other liabilities
$1,462,734
$1,346,663
Investments
$3,053,951
$2,827,666
Total liabilities
$10,608,214
$9,739,248
Plant, property, and equipment
$8,497,943
$8,481,885
OWNERS’ EQUITY
Goodwill
$347,663
$346,004
Common stock
$1,458,339
$1,454,189
Intangible assets
$1,157,792
$957,580
Retained earnings
$2,617,223
$2,922,023
Total owners’ equity
$4,075,562
$4,376,212
TOTAL LIABILITIES
TOTAL ASSETS
$14,683,776
$14,115,460
AND OWNERS’ EQUITY
$14,683,776
$14,115,460
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What is the current ratio for? 2014?

Answer & Explanation Solved by verified expert

4.4 Ratings (935 Votes)

1 Current ratio Current assets Current liabilities Value of current assets and current liabilities can be take from the balance sheet For 2014 Current assets 1626427 Current liabilities 1858582 Current ratio 1626427 1858582 08750 For 2013 Current assets 1502325 Current liabilities 1789340 Current ratio 1502325 1789340 08395 2 Quick ratio Current assets inventory Current liabilities Value of current See Answer

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The financial statements for Tyler? Toys, Inc. ?Calculate thecurrent? ratio, quick? ratio, and cash ratio for Tyler Toys for2013 and 2014. Should any of these ratios or the change in a ratiowarrant concern for the managers of Tyler Toys or the?shareholders?Tyler Toys, Inc.Income Statement for Years Ending December 31, 2013 and201420142013Revenue$14,147,946$13,566,699Cost of goods sold$-8,447,605$-8,132,285Selling, general, andadministrative expenses$-997,233$-980,532Depreciation$-1,497,455$-1,472,391EBIT$3,205,653$2,981,491Interest expense$-376,963$-355,460Taxes$-1,074,902$-997,892Net income$1,753,788$1,628,139Tyler Toys, Inc.Balance Sheet as of December 31, 2013 and2014ASSETS20142013LIABILITIES20142013Current assetsCurrent liabilitiesCash$191,815$186,115Accounts payable$1,546,821$1,456,760Investments$180,008$120,687Short-term debt$311,761$332,580Accounts receivable$667,516$631,416Total current liabilities$1,858,582$1,789,340Inventory$587,088$564,107Long-term liabilitiesTotal current assets$1,626,427$1,502,325Debt$7,286,898$6,603,245Long-term assetsOther liabilities$1,462,734$1,346,663Investments$3,053,951$2,827,666Total liabilities$10,608,214$9,739,248Plant, property, and equipment$8,497,943$8,481,885OWNERS’ EQUITYGoodwill$347,663$346,004Common stock$1,458,339$1,454,189Intangible assets$1,157,792$957,580Retained earnings$2,617,223$2,922,023Total owners’ equity$4,075,562$4,376,212TOTAL LIABILITIESTOTAL ASSETS$14,683,776$14,115,460AND OWNERS’ EQUITY$14,683,776$14,115,460??????????????????????????????????????????????????????????What is the current ratio for? 2014?

Tyler Toys, Inc.
Income Statement for Years Ending December 31, 2013 and2014
	2014	2013
Revenue	$14,147,946	$13,566,699
Cost of goods sold	$-8,447,605	$-8,132,285
Selling, general, and administrative expenses	$-997,233	$-980,532
Depreciation	$-1,497,455	$-1,472,391
EBIT	$3,205,653	$2,981,491
Interest expense	$-376,963	$-355,460
Taxes	$-1,074,902	$-997,892
Net income	$1,753,788	$1,628,139

Tyler Toys, Inc.
Balance Sheet as of December 31, 2013 and2014
ASSETS	2014	2013	LIABILITIES	2014	2013
Current assets			Current liabilities
Cash	$191,815	$186,115	Accounts payable	$1,546,821	$1,456,760
Investments	$180,008	$120,687	Short-term debt	$311,761	$332,580
Accounts receivable	$667,516	$631,416	Total current liabilities	$1,858,582	$1,789,340
Inventory	$587,088	$564,107	Long-term liabilities
Total current assets	$1,626,427	$1,502,325	Debt	$7,286,898	$6,603,245
Long-term assets			Other liabilities	$1,462,734	$1,346,663
Investments	$3,053,951	$2,827,666	Total liabilities	$10,608,214	$9,739,248
Plant, property, and equipment	$8,497,943	$8,481,885	OWNERS’ EQUITY
Goodwill	$347,663	$346,004	Common stock	$1,458,339	$1,454,189
Intangible assets	$1,157,792	$957,580	Retained earnings	$2,617,223	$2,922,023
			Total owners’ equity	$4,075,562	$4,376,212
			TOTAL LIABILITIES
TOTAL ASSETS	$14,683,776	$14,115,460	AND OWNERS’ EQUITY	$14,683,776	$14,115,460