Reference no: EM132642417
Using the financial statements for Joe's Gadgets, find the listed ratios for the year 2016. Be sure to show the formula and numbers for each ratio.
2016
Cash 3,000,000
A/R 2,000,000
Inv. 2,000,000
Cur. Assets 7,000,000
Net Prop,Plant, Equip 10,000,000
Total Assets 17,000,000
A/P 2,500,000
Accruals 1,500,000
Notes Payable 500,000
Cur.Liabilities 4,500,000
Long-Term Debt 5,000,000
Total Liabilities 10,000,000
Common Stock 1,000,000
Retained Earnings 6,000,000
Owners Equity 7,000,000
Total. Liab.& O.E 17,000,000
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