Compute the current ratio-debt ratio-return on sales, Accounting Basics

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Compute the current ratio-debt ratio-return on sales

The following information for SuperStar Company is provided:

Current Assets $215,000
Long-term assets 780,000
Current Liabilities 120,000
Long-term liabilities 330,000
Owners' Equity 545,000
Sales for year 1,875,000
Net income for year 178,000
Average market price per share 90.00
Average number of shares outstanding 50,000

Required:

1. Compute the current ratio, debt ratio, return on sales, return on equity, asset turnover, and price-earnings ratio.

2. What do these ratios show for SuperStar Company?

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Accounting Basics: Compute the current ratio-debt ratio-return on sales

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Accounting Basics: Compute the current ratio-debt ratio-return on sales

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