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Presented below is selected financial data for Teague Industries for the current year: Current assets: ​ Current liabilities ​Cash and cash equivalents $3503​ Accounts payable $5385​Short-term investments 1555​ Other current liabilities 2892​Receivables, net 1811​ Total current liabilities 8277​Merchandise inventories 6205​ Noncurrent liabilities 5196​Other current assets 1975​ Shareholders' Equity 6250​Total current assets​ 15,049​ Total liabilities and shareholders' equity $19,723​Noncurrent assets 4674​ ​ ​Total assets $19,723​ ​ ​​ ​ ​ ​Revenues $50,826 ​ ​Costs and Expenses 45,963 ​ ​Operating Income 4,863 ​ ​Other income/expense (including interest expense of $60) (36)​ ​ ​Income before income tax 4827​ ​ ​Income tax expense (1449) ​ ​Net income $3378​ ​ ​Previous Years' Financial Data Total Assets $17,020​Shareholders' Equity 4000​The financial leverage for Teague Industries is ________. (Round your answer to two decimal places, X.XX.)

Presented below is selected financial data for Teague Industries for the current year: Current assets: ​ Current liabilities ​Cash and cash equivalents $3503​ Accounts payable $5385​Short-term investments 1555​ Other current liabilities 2892​Receivables, net 1811​ Total current liabilities 8277​Merchandise inventories 6205​ Noncurrent liabilities 5196​Other current assets 1975​ Shareholders' Equity 6250​Total current assets​ 15,049​ Total liabilities and shareholders' equity $19,723​Noncurrent assets 4674​ ​ ​Total assets $19,723​ ​ ​​ ​ ​ ​Revenues $50,826 ​ ​Costs and Expenses 45,963 ​ ​Operating Income 4,863 ​ ​Other income/expense (including interest expense of $60) (36)​ ​ ​Income before income tax 4827​ ​ ​Income tax expense (1449) ​ ​Net income $3378​ ​ ​Previous Years' Financial Data Total Assets $17,020​Shareholders' Equity 4000​The financial leverage for Teague Industries is ________. (Round your answer to two decimal places, X.XX.)

Managerial Accounting: The Cornerstone of Business Decision-Making
Managerial Accounting: The Cornerstone of Business Decision-Making
7th Edition
ISBN:9781337115773
Author:Maryanne M. Mowen, Don R. Hansen, Dan L. Heitger
Publisher:Maryanne M. Mowen, Don R. Hansen, Dan L. Heitger
Chapter15: Financial Statement Analysis
Section: Chapter Questions
Problem 6MCQ
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Presented below is selected financial data for Teague Industries for the current year: Current assets: ​ Current liabilities ​ Cash and cash equivalents $3503​ Accounts payable $5385​ Short-term investments 1555​ Other current liabilities 2892​ Receivables, net 1811​ Total current liabilities 8277​ Merchandise inventories 6205​ Noncurrent liabilities 5196​ Other current assets 1975​ Shareholders' Equity 6250​ Total current assets ​ 15,049 ​ Total liabilities and shareholders' equity $19,723​ Noncurrent assets 4674​ ​ ​ Total assets $19,723​ ​ ​ ​ ​ ​ ​ Revenues $50,826 ​ ​ Costs and Expenses 45,963 ​ ​ Operating Income 4,863 ​ ​ Other income/expense (including interest expense of $60) (36) ​ ​ ​ Income before income tax 4827​ ​ ​ Income tax expense (1449) ​ ​ Net income $3378​ ​ ​ Previous Years' Financial Data Total Assets $17,020​ Shareholders' Equity 4000​ The financial leverage for Teague Industries is ________. (Round your answer to two decimal places, X.XX.)
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