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Author Question: Selected information from the comparative financial statements of Faure Company for the year ended ... (Read 39 times)

kmoyer2

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Selected information from the comparative financial statements of Faure Company for the year ended December 31, appears below:

20212020
Accounts receivable (net)$    180,000$200,000
Inventory140,000160,000
Total assets1,200,000800,000
Current liabilities140,000110,000
Long-term debt400,000300,000
Net credit sales1,330,000700,000
Cost of goods sold900,000530,000
Interest expense50,00025,000
Income tax expense60,00029,000
Net income150,00085,000

There is no preferred stock and the tax rate is 30%.

Required:

Calculate each of the following for 2021:
a.Debt ratio
b.Debt-to-equity ratio
c.Times interest earned ratio
d.Gross margin percentage
e.Return on assets
f.Return on common stockholders' equity


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Marked as best answer by kmoyer2 on Feb 5, 2023

mamboz

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kmoyer2

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Reply 2 on: Feb 5, 2023
Great answer, keep it coming :)


AngeliqueG

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Reply 3 on: Yesterday
Wow, this really help

 

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