Solution
Tanmoy answered on
Apr 14 2021
Balance Sheet
Balance Sheet items 2018 2017
CURRENT ASSETS
Cash 456,500 222,400 Cash increase - due to no dividends paid in 2018
Receivables 3,936,400 3,320,000
Inventory 89,800 100,200 Inventory Turnover ratio 2017 49
Other assets 1,169,500 934,300 Inventory Turnover ratio 2018 72
Total cu
ent assets 5,652,200 4,576,900 Cu
ent ratio 2017: 1.39
Cu
ent ratio 2018: 1.70
LONG TERM ASSETS
Note Receivable 380,600 280,700 Some additional debt acquired in 2018
Equipment (net of depreciation) 975,000 1,017,800
Total long term assets 1,355,600 1,298,500
TOTAL ASSETS 7,007,800 5,875,400
LIABILITIES AND STOCKHOLDERS' EQUITY Debt ratio 2017: 0.43
Debt ratio...