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Question - A summary of data from the income statement and balance sheets for Roman Constructions Supply Company for 2011 and 2010 appears below.
2011
2010
Current assets
$183,000
$155,000
Total assets
1,160,000
870,000
Current liabilities
90,000
60,000
Long-term liabilities
400,000
290,000
Owner's equity
670,000
520,000
Net sales
2,300,000
1,740,000
Net income
150,000
102,000
Total assets owner's equity at the beginning of 2010 were $680,000 and $420,000, respectively.
Required -
1. Compute the following liquidity measures for 2010 and 2011: (a) working capital and (b) current ratio. Comment on the differences between the years.
2. Compute the following measures of profitability for 2010 and 2011: (a) profit margin, (b) asset turnover, (c) return on assets, (d) debt to equity ratio, and (e) return on equity. Comment on the change in performance from 2010 to 2011.
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