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Warner Company Balance Sheet
Current Assets
Warner Company Income Statement
to construct an income statement
in this space, adjusting as needed.
(You may delete these instructions.)
Long Term (fixed) assets
Current Liabilities
Long-term Liabilities
Owners Equity
Total liabilities and equity
Q. What can you say about the firm’s financial condition based on these financial
statements?
Q. Using the CSU Online Library find one article that discuses financial statements, cash flow, or ratio analysis. Briefly
summarize the key points of the article as it relates to this unit. You may use any of the databases, but Business Source
Complete is a good starting place.
ome Statement
cial
ratio analysis. Briefly
Problem 3-15
Answer the following four questions using the information found in the statements.
a. Does BigBox generate positive cash flow from its operations?
b. How much did BigBox invest in new capital expenditures over the last four years?
c. Describe BigBox’s sources of financing in the financial markets over the last four years.
d. Based solely on the cash flow statement for 2010 through 2013, write a brief narrative that
describes the major activities of BigBox’s management team over the last four years.
Problem 4-25
Step 1
Step 2
Step 3
Step 4
Step 5
Step 6
Step 7
Step 8
Step 9
Step 10
Step 11
Instructions to use the Solution Template
Enter the given values from the textbook on page 116 in the yellow colored cells below.
In Cell E52, Calculate Current ratio using formula “Current Assets / Current Liabilities”
In Cell E53, Calculate Times interest earned using formula “Net Operating Income/ Interest
In Cell E54, Calculate Inventory Turnover using formula “Cost of goods sold/ Inventory”
In Cell E55, Calculate Total Asset turn Over using formula “Net Sales / Total Assets”
In Cell E56, Calculate Operating Profit Margin using formula “Net Operating Income / Net S
In Cell E57, Calculate Operating Return on Assets using formula “Net Operating Income / To
In Cell E58, Calculate Debt Ratio using formula “( Current Liabilities + Long-term debt) / Tot
In Cell E59, Calculate Average Collection Period using formula “( Accounts Receivable * 365
In Cell E60, Calculate Fixed Asset Turnover using formula “Net Sales / Net Fixed Assets ”
In Cell E61, Calculate Return on Equity using formula “Net Income / Owner’s Equity”
Given
J. P. Robard Mfg., Inc.
Balance Sheet (\$000)
Cash
Accounts receivable
Inventories
Current assets
Net fixed assets
Total assets
Accounts payable
Accrued expenses
Short-term notes payable
Current liabilities
Long-term debt
Owners’ equity
Total liabilities and owners’ equity
J. P. Robard Mfg., Inc.
Income Statement (\$000)
Net sales (all credit)
Cost of goods sold
Gross profit
Operating expenses (includes \$500 depreciation)
Net operating income
Interest expense
Earnings before taxes
Income taxes (40%)
Net income
Solution
Current ratio
Times interest earned
Inventory turnover
Total asset turnover
Operating profit margin
Operating return on assets
Debt ratio
Average collection period
Fixed asset turnover
Return on equity
Problem 4-25
ctions to use the Solution Template
ge 116 in the yellow colored cells below.
a “Current Assets / Current Liabilities”
g formula “Net Operating Income/ Interest Expense”
ormula “Cost of goods sold/ Inventory”
g formula “Net Sales / Total Assets”
ing formula “Net Operating Income / Net Sales”
s using formula “Net Operating Income / Total Assets”
( Current Liabilities + Long-term debt) / Total Assets”
using formula “( Accounts Receivable * 365 ) / Credit Sales ”
formula “Net Sales / Net Fixed Assets ”
mula “Net Income / Owner’s Equity”
Given
Solution

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