Question

D
Use following information to calculate Ratios:
Salinas Limited
Balance Sheet
At December 31, 2012
Liabilities and Equity
$72 Accounts Payable
88 Bank Loan, non-current
100
40 Preferred Shares
Common Shares
320 Retained Earnings
$620 Total Liabilities and Equity
Assets
Cash
Accounts Receivable
Merchandise Inventory
Prepaid Expenses
Property, Plant, and Equipment,
at carrying amount
Total Assets
$ 60
150
60
250
100
$620
$240
144
96
Salinas Limited
Income Statement
For the Year Ended December 31, 2012
Sales
Cost of Goods Sold
Gross Profit
Operating Expenses
Salaries
$ 44
Depreciation
6
Income from Operations
Less: Interest
Income before Income Taxes
Less: Income Taxes
Net Income
50
46
8
38
18
$ 20​
Assume that 80% sales are on credit, that the average of all balance sheet items equal to the year-end, figure that all preferred shares dividends have been paid and the total preferred dividend entitlement is $6 and that the number of common shares outstanding is 10.
Calulate:
Current ratios
Return on total assets
Sales to total assets
Acid-test ratio
Times interest earned
Earnings per common share
Account receivable collection period
return on equity ?

Answer 1

Answer:

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