balance sheet amounts and additional information for the end of the
current year.
End of current year
End of prior
year
Net sales revenue (all credit)
$1,420,000
Cost of goods sold
$925,000
Gross profit
$495,000
Selling/general expenses
$280,000
Interest expense
$42,000
Net Income
$173,000
Current assets
$115,000
$82,000
Long-term assets
$510,000
$440,000
Total assets
$625,000
$522,000
Current liabilities
$59,000
$52,000
Long-term liabilities
$273,000
$245,000
Common stockholders' equity
$293,000
$225,000
Total liabilities and stockholders' equity
$625,000
$522,000
Inventory and prepaid expenses account for $30,000 of the
current year's current assets.
Average inventory for the current year is $36,250.
Average net accounts receivable for the current year is
$45,000.
There are 35,000 shares of common stock outstanding.
Total dividends paid during the current year were $17,000.
The market price per share of common stock is $20.
What is the debt ratio for the current year?
- The Amos Corporation Reported The Following Income Statement And Balance Sheet Amounts And Additional Information For Th 1 (4.37 KiB) Viewed 46 times