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Author Question: The 2020 and 2021 balance sheets for Ottoman Manufacturing Company appear below along with selected ... (Read 51 times)

amymoore

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on: Feb 5, 2023
The 2020 and 2021 balance sheets for Ottoman Manufacturing Company appear below along with selected financial information. Ottoman declared no dividends during either year, and had 1,000 shares of stock outstanding throughout each year.

​​20212020
Current Assets​​
  Cash$   16,000$   15,000
  Accounts receivable, net20,00019,000
  Inventory  30,000   28,000
Total current assets66,00062,000
Plant & equipment, net   60,000   40,000
Total assets$126,000$102,000
​​​
Current liabilities$  20,000$  30,000
Noncurrent liabilities    60,000    40,000
Total liabilities80,00070,000
Stockholders' equity​​
  Common stock2,0002,000
  Additional paid-In capital4,0004,000
  Retained earnings   40,000   26,000
Total stockholders' equity   46,000   32,000
Total liabilities and stockholders' equity$126,000$102,000

Required:

a.Calculate the acid-test ratio for 2020.
b.Calculate the working capital for 2021.
c.Calculate earnings per share for 2021.
Managerial Accounting ¦ Davis ¦ 4th Edition
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Marked as best answer by amymoore on Feb 5, 2023

jbsuccess1

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Reply #1 on: Feb 5, 2023
Lorsum iprem. Lorsus sur ipci. Lorsem sur iprem. Lorsum sur ipdi, lorsem sur ipci. Lorsum sur iprium, valum sur ipci et, vala sur ipci. Lorsem sur ipci, lorsa sur iprem. Valus sur ipdi. Lorsus sur iprium nunc, valem sur iprium. Valem sur ipdi. Lorsa sur iprium. Lorsum sur iprium. Valem sur ipdi. Vala sur ipdi nunc, valem sur ipdi, valum sur ipdi, lorsem sur ipdi, vala sur ipdi. Valem sur iprem nunc, lorsa sur iprium. Valum sur ipdi et, lorsus sur ipci. Valem sur iprem. Valem sur ipci. Lorsa sur iprium. Lorsem sur ipci, valus sur iprem. Lorsem sur iprem nunc, valus sur iprium.
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amymoore

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Reply 2 on: Feb 5, 2023
YES! Correct, THANKS for helping me on my review

lcapri7

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Reply 3 on: Yesterday
Excellent

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