This topic contains a solution. Click here to go to the answer

Author Question: Selected information from the comparative financial statements of Faure Company for the year ended ... (Read 38 times)

kmoyer2

  • Full Member
  • ***
  • Posts: 140
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


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by kmoyer2 on Feb 5, 2023

mamboz

  • Full Member
  • Posts: 170
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.
Answer Preview
Only 50% of students answer this correctly




kmoyer2

  • Member
  • Posts: 140
Reply 2 on: Feb 5, 2023
Great answer, keep it coming :)


alvinum

  • Member
  • Posts: 317
Reply 3 on: Yesterday
Thanks for the timely response, appreciate it

 

Did you know?

Colchicine is a highly poisonous alkaloid originally extracted from a type of saffron plant that is used mainly to treat gout.

Did you know?

Hyperthyroidism leads to an increased rate of metabolism and affects about 1% of women but only 0.1% of men. For most people, this increased metabolic rate causes the thyroid gland to become enlarged (known as a goiter).

Did you know?

The immune system needs 9.5 hours of sleep in total darkness to recharge completely.

Did you know?

The top five reasons that children stay home from school are as follows: colds, stomach flu (gastroenteritis), ear infection (otitis media), pink eye (conjunctivitis), and sore throat.

Did you know?

A serious new warning has been established for pregnant women against taking ACE inhibitors during pregnancy. In the study, the risk of major birth defects in children whose mothers took ACE inhibitors during the first trimester was nearly three times higher than in children whose mothers didn't take ACE inhibitors. Physicians can prescribe alternative medications for pregnant women who have symptoms of high blood pressure.

For a complete list of videos, visit our video library