The quiz includes seven questions of which I only need assistance with questions 1 through 6.

Document Preview:

Test 3 Name _________________________ for ACC 232 with MA6e including App. A and Chap. 9, 10 and 11 Appendix A – Managerial Analysis of Financial Statements Question 1: Ratio Calculations and Interpretation (20 points) Required: Prepare a comprehensive analysis of Utica for 2014, including the following measures (round all calculations to two decimal places. Comment on the financial condition of Utica with respect to short-term solvency, long-term solvency, and performance. continued on the next two pages… Utica Company Comparative Income Statements For Years Ended December 31, 2014 and 2013 2014 2013 Sales $13,013,631 $11,016,668 Cost of goods sold 7,247,451 6,267,557 Gross profit 5,766,180 4,749,111 Selling and administrative expenses 3,937,065 3,296,448 Operating income 1,829,115 1,452,664 Other expenses (revenues): Interest revenue (95,915) (77,478) Interest expense 88,232 68,800 Total other expenses (revenues) (7,683) (8,678) Income before income taxes 1,836,798 1,461,342 Income taxes 819,775 609,517 Net income $ 1,017,023 $ 851,824 Utica Company Comparative Balance Sheets December 31, 2014 and 2013 2014 2013 Assets Cash $ 346,652 $ 254,183 Marketable securities 446,013 198,746 Accounts receivable 986,322 1,025,321 Inventory 1,631,467 1,588,061 Prepaid expenses 127,488 113,306 Total current assets 3,537,942 3,179,616 Investments and other assets 790,333 592,281 Property Plant and equipment, net 3,075,290 2,628,046 Trademarks and other intangibles 268,588 275,735 Total Assets $7,672,153 $6,675,678 Liabilities and Stockholders’ Equity Notes payable $ 182,880 $ 171,671 Current maturities of long-term debt 10,230 14,755 Accounts payable and accrued expenses 1,858,773 1,894,271 Total current liabilities 2,051,883 2,080,697 Long-term debt 567,495 528,494 Total liabilities 2,619,378 2,609,191…

Attachments: