Scully Corporation s comparative balance sheets are presented below.
|
SCULLY CORPORATION |
||
|
Balance Sheets |
||
|
December 31 |
||
|
2011 |
2010 |
|
|
|
|
|
|
Cash |
$ 4,300 |
$ 3,700 |
|
Accounts receivable |
21,200 |
23,400 |
|
Inventory |
10,000 |
7,000 |
|
Land |
20,000 |
26,000 |
|
Building |
70,000 |
70,000 |
|
Accumulated depreciation |
(15,000) |
(10,000) |
|
Total |
$110,500.00 |
$120,100.00 |
|
|
|
|
|
|
|
|
|
Accounts payable |
$ 12,370 |
$31,100 |
|
Common stock |
75,000 |
69,000 |
|
Retained earnings |
23,130 |
20,000 |
|
Total |
$110,500.00 |
$120,100.00 |
Scully s 2011 income statement included net sales of $100,000, cost of goods sold $60,000, and net income of $15,000.
Compute the following ratios for 2011:
(a) Current ratio
(b) Acid-test ratio
(c) Receivables turnover
(d) Inventory turnover
(e) Profit margin
(f) Asset turnover
(g) Return on assets
(h) Return on common stockholders equity
(i) Debt to total assets ratio