Help me please Here are some formulas that you may find helpful:ItemFormulaDesired ResultCurrent assets / Current liabilitiesCash+ short-term investments + AR /Current liabilitiesSales /Average gross accounts receivable|Days in year / Receivables turnover|Cost of goods sold / Average inventory|Days in year / Inventory turnoverTotal liabilities /Total assetsCurrent RatioQuick Ratio (Acid-test)HigherHigherReceivables turnoverHigherCollection PeriodInventory turnoverDays sales in inventoryDebt to Total AssetsLower| HigherLowerLowerDebt to EquityTotal liabilities /Owner's (Shareholders') EquityGross Profit / Total revenueLowerGross Margin (%) (GrossProfit Margin)Profit Margin (%)(Net Margin)HigherNet profit / Total revenueHigherNet sales / Average total assetsNet profit / average total assetsProfit / Average shareholders' equityHigherHigherAsset turnoverReturn on AssetsReturn on Equity (ROE)Higher8.0%798%0.8:18.0:1 Using the information below, what is Puppy Company's acid-test ratio (quick ratio)for 2019?The following financial statement accounts and balances are for Puppy Company:20192018CashAccounts ReceivableTotal InventoryPrepaid ExpensesTotal Current AssetsProperty and EquipmentTotal AssetsTotal Current LiabilitiesTotal DebtTotal LiabilitiesTotal Shareholders’EquitySales / Net Revenue /NetCredit SalesCOGS (Cost of GoodsSold)Gross Profit82,3706,555327,7504,288420,963290,750711,713111,45045,000156,450555,26371,7405,963364,6805,382447,765250,612698,377128,85750,512179,369519,0082,250,0002,064,6761,370,5001,299,092|765,584Net Income / Profit879,500207,850250,094Here are some formulas that you may find helpful:itemFormulaDesired ResultCurrent RatioQuick Ratio (Acid-test)Current assets / Current liabilitiesCash+ short-term investments + AR /Current liabilitiesHigherHigher

Acid Test ratio An acid ratio test, also known as a quick ratio or liquid ratio, measures the…

Using the information below, what is Puppy Company's acid-test ratio (quick ratio) for 2019? The following financial statement accounts and balances are for Puppy Company: Cash Accounts Receivable Total Inventory Prepaid Expenses Total Current Assets Property and Equipment Total Assets Total Current Liabilities Total Debt Total Liabilities 2019 82,370 6,555 327,750 4,288 420,963 290,750 711,713 111,450 45,000 156 450 2018 71,740 5,963 364,680 5,382 447,765 250,612 698,377 128,857 50,512 179 369

Using the information below, what is Puppy Company's acid-test ratio (quick ratio) for 2019? The following financial statement accounts and balances are for Puppy Company: Cash Accounts Receivable Total Inventory Prepaid Expenses Total Current Assets Property and Equipment Total Assets Total Current Liabilities Total Debt Total Liabilities 2019 82,370 6,555 327,750 4,288 420,963 290,750 711,713 111,450 45,000 156 450 2018 71,740 5,963 364,680 5,382 447,765 250,612 698,377 128,857 50,512 179 369

Intermediate Accounting: Reporting And Analysis

3rd Edition

ISBN:9781337788281

Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Chapter5: The Income Statement And The Statement Of Cash Flows

Section: Chapter Questions

Problem 15E

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Liverton Co.’s income statement for the year ended 31 March 2019 and statements of financial position at 31 March 2019 and 2018 were as follows in the images. Calculate for the financial year ended 31 March 2019 and, where possible, for 31 March 2018, the following ratios: i) Gross profit marginii) Assets usageiii) Current ratioiv) Acid testv) Inventories holding periodvi) Debt to Equity ratio
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