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Using the financial statements for the Snider Corporation calculate the 13 basic ratios found in the chapter. SNIDER CORPORATION Balance Sheet December 31 20X1 Assets Current assets Cash

Using the financial statements for the Snider Corporation, calculate the 13 basic ratios found in the chapter. SNIDER CORPORATION Balance Sheet December 31, 20X1 Assets Current assets: Cash $ 52,200 Marketable securities 24,400 Accounts receivable (net) 222,000 Inventory 238,000 Total current assets $536,000 Investments 65,900 Plant and equipment 615,000 Less: Accumulated depreciation (271,000) Net plant and equipment 344,000 Total assets $946,500 Liabilities and Stockholders Equity Current liabilities Accounts payable $93,400 Notes payable 70,600 Accrued taxes 17,000 Total current liabilities 181,000 Long-term liabilities: Bonds payable $153,200 Total liabilities $334,200 Stockholders equity Preferred stock, $50 per value 100,000 Common stock, $1 par value 80,000 Capital paid in excess of par 190,000 Retained earnings 242,300 Total stockholders equity 612,300 Total liabilities and stockholders equity $946,500 SNIDER CORPORATION  Income statement For the Year Ending December 31, 20X1  Sales (on credit)  $2,064,000  Less: Cost of goods sold  1,313,000  Gross profit  751,000  Less: Selling and administrative expenses  496,000*  Operating profit (EBIT)  255,000  Less: Interest expense  26,900  Earnings before taxes (EBT)  228,100  Less: Taxes  83,300  Earnings after taxes (EAT)  $ 144,800  *Includes $36,100

Apr 08 2020 View more View Less

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