scully corporation s comparative balance sheets are presented below 501082
Scully Corporation s comparative balance sheets are presented below.
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scully corporation s comparative balance sheets are presented below 501082
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Balance Sheets |
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December 31 |
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2011 |
2010 |
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Cash |
$ 4,300 |
$ 3,700 |
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Accounts receivable |
21,200 |
23,400 |
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Inventory |
10,000 |
7,000 |
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Land |
20,000 |
26,000 |
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Building |
70,000 |
70,000 |
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Accumulated depreciation |
(15,000) |
(10,000) |
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Total |
$110,500.00 |
$120,100.00 |
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Accounts payable |
$ 12,370 |
$31,100 |
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Common stock |
75,000 |
69,000 |
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Retained earnings |
23,130 |
20,000 |
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Total |
$110,500.00 |
$120,100.00 |
Scully s 2011 income statement included net sales of $100,000, cost of goods sold $60,000, and net income of $15,000.
Compute the following ratios for 2011:
(a) Current ratio
(b) Acid-test ratio
(c) Receivables turnover
(d) Inventory turnover
(e) Profit margin
(f) Asset turnover
(g) Return on assets
(h) Return on common stockholders equity
(i) Debt to total assets ratio
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