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On January 1 2015 Julee Enterprises borrows $30000 to purchase a new Toyota Highlander by agreeing to a 6%, 4-year note with the bank

On January 1, 2015, Julee Enterprises borrows $30,000 to purchase a new Toyota Highlander by agreeing to a 6%, 4-year note with the bank. Payments of $704.55 are due at the end of each month with the first installment due on January 31, 2015. Record the issuance of the note payable and the first two monthly payments.

 

 

 

151. Western World has the following selected data ($ in millions):

 

Balance Sheet Data

    2015

     2014

Total Assets

$2,511

$2,315

Total Liabilities

1,685

1,525

Total Stockholders’ Equity

826

790

Income Statement Data

 

 

Sales

$786

 

Interest Expense

77

 

Tax Expense

32

 

Net Income

80

 

 

Based on these amounts, calculate the following ratios for Western World in 2015:

  1. Debt to equity ratio.
  2. Return on assets ratio.
  3. Return on equity ratio.
  4. Times interest earned ratio.

Jan 27 2020 View more View Less

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