Problem:
Financial reports for 20X3:
Stock price $18.37
Inventory balance $300000
Expenses(excluding OGS) $1120000
Shares outstanding 290000
Average issue price of shares $5.00
Gross margin 40%
Interest rate 8%
TIE ratio 8
Inventory turnover 12X
Current ratio 1.5
Quick ratio .75
Fixed asset turnover 1.5
Question: Complete the following abbreviated financial statements and calculate per share ratios indicated. (Hint: Start by subtracting the formula for the quick ratio from that for the current ratio and equating that to the numerical difference.)
Income Statement
Revenue
COGS
GM
Expense
EBIT
Interest
EBT
Tax
EAT
Balance Sheet
Current assets
Fixed assets
Total assets
Current liabilities
Long-term debt
Equity:
Paid-in capital(Common stock + Paid-in excess)
Retained earnings
Total equity
Total liabilities & equity
Ratios
Book value per share
Market value per share