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Question - Lantana Landscape Supplies provides the following information for 2021.
Current Assets $225,075
Total Assets $420,675
Current Liabilities $156,240
Total Liabilities $187,740
Total Equity $232,935
Net Cash from operating activities $97,500
Sales Revenue $262,500
Cost of Sales $207,500
Profit $25,000
Required -
(a) Calculate the following
i. Current ratio
ii. Debt to Equity ratio
iii. Cash flow to sales ratio
iv. Gross profit margin
v. Debt ratio
vi. Cash flow ratio
(b) With reference to the ratios calculated, discuss each of following aspects of the business
i. Liquidity
ii. Solvency
(c) Discuss why average values of balance sheet items are used in calculation of some ratios, such as Return on Assets.
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