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Business, 15.02.2021 20:30 charmrenee
Larkspur Company has been operating for several years, and on December 31, 2020, presented the following balance sheet.
LARKSPUR COMPANY BALANCE SHEET DECEMBER 31, 2020
Cash $36,400 Accounts payable $78,100
Receivables 69,200 Mortgage payable 141,500
Inventory 99,300 Common stock ($1 par) 154,400
Plant assets (net) 237,700 Retained earnings 68,600
$442,600 $442,600
The net income for 2020 was $25,000. Assume that total assets are the same in 2016 and 2017.
Compute each of the following ratios. For each of the four, indicate the manner in which it is computed and its significance as a in the analysis of the financial soundness of the company.
a. Current ratio.
b. Acid-test ratio.
c. Debt to assets ratio.
d. Return on assets.
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Larkspur Company has been operating for several years, and on December 31, 2020, presented the follo...
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