Dick's Sporting Goods, Inc. is an American sporting goods retail company, based in Pennsylvania. The statement for the company are presented below. Dick's Sporting Goods Balance Sheet At December 31, 2021 Cash $ 26,000 Notes receivable (due August 15, 2022) 43,000 Inventory Accounts receivable (net) Property, plant, and equipment (net) Intangible assets Total assets Current liabilities Bonds payable(11%) (long-term) Common stock 51,200 74,800 320,000 15,200 $530,200 $120,600 Retained earnings Total liabilities and equity 115,000 62,000 232,600 $530,200 Dick's Sporting Goods Income Statement For the Year ended December 31, 2021 Sales Cost of goods sold Gross profit Operating expenses Operating income Interest expense Income before income tax Income tax expense Net income Required: $914,000 492,400 $421,600 183,000 $238,600 12,650 $225,950 67,785 $158,165 Compute the current ratio for Dick's Sporting Goods. (Round your answer to 2 decimal places.)

Dick's Sporting Goods, Inc. is an American sporting goods retail company, based in Pennsylvania. The statement for the company are presented below. Dick's Sporting Goods Balance Sheet At December 31, 2021 Cash $ 26,000 Notes receivable (due August 15, 2022) 43,000 Inventory Accounts receivable (net) Property, plant, and equipment (net) Intangible assets Total assets Current liabilities Bonds payable(11%) (long-term) Common stock 51,200 74,800 320,000 15,200 $530,200 $120,600 Retained earnings Total liabilities and equity 115,000 62,000 232,600 $530,200 Dick's Sporting Goods Income Statement For the Year ended December 31, 2021 Sales Cost of goods sold Gross profit Operating expenses Operating income Interest expense Income before income tax Income tax expense Net income Required: $914,000 492,400 $421,600 183,000 $238,600 12,650 $225,950 67,785 $158,165 Compute the current ratio for Dick's Sporting Goods. (Round your answer to 2 decimal places.)

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

Chapter12: Intangibles

Section: Chapter Questions

Problem 10MC

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