Reference no: EM131291942
Sales are $1.5 million, cost of goods sold is $600,000, depreciation expense is $150,000, other operating expenses is $300,000, addition to retained earnings is $146,250, dividends per share is $1, tax rate is 30 percent, and number of shares of common stock outstanding is 90,000. LaTonya’s Flop Shops has no preferred stock outstanding.
Use the above information to calculate the times interest earned ratio for LaTonya’s Flop Shops, Inc.,
Interest earned times.
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Use the information to complete the balance sheet
: Use the following information to complete the balance sheet below. Sales are $8.8 million, capital intensity ratio is 2.10 times, debt ratio is 55 percent, and fixed asset turnover is 1.2 times.
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Calculate the inventory turnover
: Suppose at December 31 of a recent year, the following information (in thousands) was available for sunglasses manufacturer Oakley Inc.: ending inventory $167,228; beginning inventory $112,286; cost of goods sold $380,216 and sales revenue $689,374. ..
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Assets liabilities and equity current assets
: Use the following financial statements for Lake of Egypt Marina, Inc. LAKE OF EGYPT MARINA, INC Balance Sheet as of December 31, 2012 and 2011 (in millions of dollars) 2012 2011 2012 2011 Assets Liabilities and Equity Current assets: Current liabilit..
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Chart of accounts for exact wording of account titles
: On the first day of the fiscal year, a company issues $35,000, 9%, five-year installment notes that have annual payments of $8,998. The first note payment consists of $3,150 of interest and $5,848 of principal repayment. Journalize the following tran..
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Calculate the times interest earned ratio
: Sales are $1.5 million, cost of goods sold is $600,000, depreciation expense is $150,000, other operating expenses is $300,000, addition to retained earnings is $146,250, dividends per share is $1, tax rate is 30 percent, and number of shares of comm..
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Journalize the redemption of the bonds
: On December 31, a $1,850,000 bond issue on which there is an unamortized discount of $74,900 is redeemed for $1,799,500. Journalize the redemption of the bonds.
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General building supplies to building contractors
: Carter Lumber sells lumber and general building supplies to building contractors in a medium-sized town in Montana. Data regarding the store's operations follow: o Sales are budgeted at $380,000 for November, $390,000 for December, and $400,000 for J..
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Calculate the times interest earned ratio
: Sales are $1.5 million, cost of goods sold is $600,000, depreciation expense is $150,000, other operating expenses is $300,000, addition to retained earnings is $146,250, dividends per share is $1, tax rate is 30 percent, and number of shares of comm..
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Calculate the value of cash and marketable securities
: Mandesa, Inc., has current liabilities of $8 million, current ratio of 2 times, inventory turnover of 12 times, average collection period of 30 days, and credit sales of $64 million. Calculate the value of cash and marketable securities.
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