Cash and marketable securities $600,000
Accounts receivable 900,000
Prepaid expense 75,000
Total current assets $3,075,000
Fixed assets 8,000,000
Less: accum depreciation -2,075,000
Net fixed assets $5,925,000
Total assets $9,000,000
Account payable $800,000
Notes payable 700,000
Accrued taxes 50,000
Total current liabilities $1,550,000
Long-term debt 2,500,000
Owner’s equity (1 million shares of common stock outstanding) 4,950,000
Total liabilities and owner’s equity $9,000,000
Net sales (all credit) $10,000,000
Less: Cost of goods sold -3,000,000
Selling and administrative expense -2,000,000
Depreciation expense -250,000
Interest expense -200,000
Earning before taxes 4,550,000
Income taxes -1,820,000
Net income $2,730,000
1. Based on the information in Table 3-1, the current ratio is?
2. Based on the information in Table 3-1, the quick ratio is?
3. Based on the information in Table 3-1, the average collection period is?
4. Based on the information in Table 3-1, the accounts receivable turnover is?
5. Based on the information in Table 3-1, the debt ratio is?
6. Based on the information in Table 3-1, the return on assets (ROA) is?
7. Based on the information in Table 3-1, the times interest earned ratio is?
8. Based on the information in Table 3-1, assuming that no preferred dividend were paid, the return on common equity is?
9. Based on the information in Table 3-1, the fixed asset turnover ratio is?
10. Based on the information in Table 3-1, the total asset turnover is?
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