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The Tooty Fruity Ltd. company has published the balance sheet for 2019 this year. In the same year, the sales were $3,500,000 and the cost of goods sold was $2,250,000. From this balance sheet find the following:
Problem a) Liquidity ratios, both the current and quick rations.
Problem b) Efficiency (Activity) ratios: the inventory turnover ratio. The Accounts Receivable Turnover Ratio. The fixed asset turnover ratio
Problem c) Leverage ratio: The long-term debt ratio.
Problem d) Now, if the industrial average long-term debt ratio is 15%, what do you think? This company was good or bad? Why?
The accrual basis of accounting generally provides a more complete picture of economic reality than the cash basis of accounting.
Based upon your analysis in part a, does teh company's liquidity appear to have increased or decreased during the most recent fiscal year?
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