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Author Question: Selected information from the comparative financial statements of Faure Company for the year ended ... (Read 41 times)

kmoyer2

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on: Feb 5, 2023
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
Managerial Accounting ¦ Davis ¦ 4th Edition
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Marked as best answer by kmoyer2 on Feb 5, 2023

mamboz

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Reply #1 on: Feb 5, 2023
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kmoyer2

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Reply 2 on: Feb 5, 2023
:D TYSM

ASDFGJLO

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Reply 3 on: Yesterday
YES! Correct, THANKS for helping me on my review

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