Create an Excel spreadsheet to organize your answers to the following problem, and submit your Excel file as an attachment by clicking on the appropriate button on this page.
A firm had the following abbreviated income statement for 2021 and abbreviated balance sheets at the end of 2020 and 2021.
|Less Cost of goods sold||320,000|
|Less Operating expenses||190,000|
|Operating Income (EBIT)||60,000|
|Less Interest expense||20,000|
|Earnings Before Taxes (EBT)||40,000|
|Less Income tax||14,000|
|Earnings After Tax (Net Income)||$26,000|
|Total Liabilities & Equity||$876,000||$860,000|
The company paid a dividend in 2021 of $10,000. All sales are made on account.
A. Calculate the current ratio at the end of 2021. _______________
B. Calculate the quick ratio at the end of 2021. ________________
C. Calculate the working capital at the end of 2021. _______________
D. Calculate average age of accounts receivable during 2021. _______________
E. Calculate the inventory turnover during 2021. _________________
F. Calculate the average age of accounts payable during 2021. _____________
G. Calculate the accounts receivable turnover during 2021. _____________
H. Calculate the pre-tax profit margin for 2021. ____________
I. Calculate the cash conversion cycle, in days during 2021. _____________
J. Calculate the debt/equity ratio at the end of 2021. ________________
K. Calculate the debt ratio at the end of 2021. ______________
L. Calculate the times interest earned ratio for 2021. _______________
M. Calculate the dividend payout ratio for 2021. _________________
N. Calculate the gross profit margin for 2021. _____________
O. Calculate the operating profit margin for 2021. ____________
P. Calculate the net profit margin for 2021. _______________
Q. Calculate the return on assets (ROA) for 2021. _________________
R. Calculate the total asset turnover during 2021. _______________
S. Calculate the return on equity (ROE for 2021. ______________
T. Calculate the marginal tax rate for 2021. _________________
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