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Fundamentals of Accounting
Ratio
Year 1
Year 2
Current ratio
3.12:1
2.96:1
Quick ratio
1.34:1
1.02:1
Receivables turnover
9.7 times
10.2 times
Inventory turnover
2.4 times
2.3 times
Profit margin
11.4%
12.6%
Asset turnover
1.21 times
1.22 times
Return on assets
13.7%
15.4%
Return on equity
28.5%
29.3%
Price-earnings ratio
10.4 times
12.4 times
Debt ratio
50.2%
45.3%
Times interest earned
9.6 times
13.0 times
What does the calculation of each ratio represent?
How does year one compare with year two, and what trend can be seen when you compare the two years?
Is the trend from year one to year two positive or negative?
What are the possible reasons for the trend?
What recommendations do you have for turning a negative trend to a positive trend?
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