Compute the debt ratio
Assignment
A condensed balance sheet for Bradford Corporation prepared at the end of the year appears as follows:
Assets
Liabilities & Stockholders' Equity
Cash
$
100,000
Notes payable (due in 6 months)
43,000
Accounts receivable
130,000
Accounts payable
99,000
Inventory
250,000
Long-term liabilities
316,000
Prepaid expenses
60,000
Capital stock, $5 par
300,000
Plant & equipment (net)
570,000
Retained earnings
442,000
Other assets
90,000
Total
1,200,000
During the year the company earned a gross profit of $1,116,000 on sales of $2,950,000. Accounts receivable, inventory, and plant assets remained almost constant in amount throughout the year, so year-end figures may be used rather than averages.
a.
Compute the current ratio. (Round your answer to 2 decimal places.)
b.
Compute the quick ratio. (Round your answer to 2 decimal places.)
c.
Compute the working capital.
d.
Compute the debt ratio. (Round your percentage answers to nearest whole percent. i.e. 0.1234 as 12%.)
e.
Compute the accounts receivable turnover (all sales were on credit). (Round your answer to 2 decimal places.)
f.
Compute the Inventory turnover. (Round your answer to 2 decimal places.)
g.
Compute the book value per share of capital stock. (Round your answer to 2 decimal places.)
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