Home / Questions / Use the following information to answer the next two questions
Use the following information to answer the next two questions:
Recent financial statement data for Harmony Health Foods (HHF) Inc. is shown below.
|
Current liabilities |
$ 180 |
|
Income before interest and taxes |
$ 125 |
|
10% Bonds, long-term |
360 |
|
Interest expense |
36 |
|
Total liabilities |
540 |
|
Income before tax |
89 |
|
Stockholders’ equity |
|
|
Income tax |
27 |
|
Common stock |
200 |
|
Net income |
$ 62 |
|
Retained earnings |
280 |
|
|
|
|
Total stockholders’ equity |
480 |
|
|
|
|
Total liabilities and equity |
$1,020 |
|
|
|
|
|
|
|
|
|
79. HHF's debt to equity ratio is:
a.0.75.
b.1.13.
c.0.38.
d.1.80.
80. HHF's times interest earned ratio is:
a.3.47.
b.1.72.
c.2.47.
d.10.0.
Excerpts from Stealth Company's December 31, 2015 and 2014, financial statements are presented below:
|
|
2015 |
2014 |
|
Accounts receivable |
$ 40,000 |
$ 36,000 |
|
Inventory |
28,000 |
35,000 |
|
Net sales |
190,000 |
186,000 |
|
Cost of goods sold |
114,000 |
108,000 |
|
Total assets |
425,000 |
405,000 |
|
Total stockholders’ equity |
240,000 |
225,000 |
|
Net income |
32,500 |
28,000 |
81. Stealth Company’s 2015 receivables turnover ratio is:
a.2.85.
b.4.70.
c.5.00.
d.10.63.
82. Stealth Company’s 2015 average collection period is:
a.73 days.
b.104 days.
c.109 days.
d.128 days.
83. Stealth Company’s 2015 inventory turnover is:
a.3.62 times.
b.3.96 times.
c.4.07 times.
d.6.03 times.
84. Stealth Company’s 2015 average days in inventory is:
a.60.5 days.
b.92.2 days.
c.100.8 days.
d.89.7 days.
85. Stealth Company’s 2015 debt to equity ratio is:
a.77.1%.
b.80.0%.
c.40.0%.
d.60.0%.
86. Stealth Company’s 2015 gross profit ratio is:
a.77.1%.
b.80.0%.
c.40.0%.
d.60.0%.
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