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Problem
As loan analyst for Utrillo Bank, you have been presented the following information.
Toulouse Co.
Lautrec Co.
Assets
Cash
$111,600
$312,200
Receivables
215,000
304,800
Inventories
575,500
518,400
Total current assets
902,100
1,135,400
Other assets
494,200
612,300
Total assets
$1,396,300
$1,747,700
Liabilities and Stockholders' Equity
Current liabilities
$302,600
$349,600
Long-term liabilities
393,000
Capital stock and retained earnings
700,700
903,900
Total liabilities and stockholders' equity
Annual sales
$950,100
$1,491,700
Rate of gross profit on sales
30%
40%
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Compute the various ratios for each company.
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