The condensed financial statements of Eau Fraîche Company for the years 2010 and 2011 are presented below.
EAU FRAÎCHE COMPANY
Balance Sheets
December 31
| 2011 | 2010 | |
| Current assets | ||
| Cash and cash equivalents | 330 | 360 |
| Accounts receivable (net) | 470 | 400 |
| Inventories | 460 | 390 |
| Prepaid expenses | 120 | 160 |
| Total current assets | 1,380 | 1,310 |
| Property, plant, and equipment | 420 | 380 |
| Investments | 10 | 10 |
| Intangibles and other assets | 530 | 510 |
| Total assets | 2,340 | 2,340 |
| Current liabilities | 900 | 790 |
| Long-term liabilities | 410 | 380 |
| Stockholders’equity – common | 1,030 | 1,040 |
| Total liabilities and stockholders’equity | 2,340 | 2,210 |
EAU FRAÎCHE COMPANY
Income Statement
For the Years Ended December 31
| 2011 | 2010 | |
| Revenues | 3,800 | 3,480 |
| Costs and expenses | ||
| Cost of goods sold | 970 | 890 |
| Selling and administrative expenses | 2,400 | 2,330 |
| Interest expense | 10 | 20 |
| Total costs and expenses | 3,380 | 3,240 |
| Income before income taxes | 420 | 220 |
| Income tax expense | 168 | 132 |
| Net income | 252 | 88 |
Compute the following ratios for 2010 and 2011. (Round current ratio and inventory turnover to 2 decimal places, e.g. 2.50. Round all other answers to 1 decimal place, e.g. 5.2.)
Economic Debate- Progressive Income Tax For this Economic Debate, we are going to discuss the…
TOPIC: Going Global Discussion Thread 1 (initial post due Wednesday for full credit) Please note:…
Assignment Topic This week will culminate in the creation of a narrated PowerPoint to create…
The Assignment must be submitted on Blackboard (WORD format only) via allocated folder. Assignments submitted…
you need to post your 2-page information flier to share with your Final Project Group.…
discussion: Discuss the methods used at your company to measure and ensure quality products and…