The current year financial statements for Blue Water Company and Prime Fish Company are presented below.Blue WaterPrime Fish41,30039,50097,500Balance sheet:CashAccounts receivable (net)InventoryProperty & equipment (net)Other assetsTotal assetsCurrent liabilitiesLong-term debt (interest rate: 15%)Capital stock ($10 par value)Additional paid-in capitalRetained earningsTotal liabilities and stockholders' equityIncome statement:Sales revenue (1/2 on credit)Cost of goods soldOperating expensesNet incomeOther data:Per share stock price at end of current yearAverage income tax rateDividends declared and paid in current year$144,50084,300$ 407,100$97,50067,100150,10029,30063,100$ 407,100$ 442,500(239,500)(161,600)$ 41,400$$22.345%33,300$ 20,70031,90041,800404,600308,000$ 807,000$53.50060,600515,000106,30071.600$ 807,000$ 799,000(400,300)(311,300)$ 87,400$$ 149,5001845%Both companies are in the fish catching and manufacturing business. Both have been in business approximately 10 years, and each has had steady growth. The management of each has a different viewpoint inmany respects. Blue Water is more conservative, and as its president has said, "We avoid what we consider to be undue risk." Neither company is publicly held. Required:1. Complete a schedule that reflects a ratio analysis of each company. (Round your intermediate calculations and final answers to 2 decimal places. Enter percentage answers rounded to 2 decimalplaces (i.e. 0.1234 should be entered as 12.34).)Profitability ratios:1.2.3.4.5.Ratio6.7.8.9.Return on equityReturn on assetsFinancial leverage percentageNet profit marginEarnings per shareTurnover ratios:Total asset turnoverFixed asset turnoverReceivable turnoverInventory tumoverLiquidity ratios:10. Current ratio11.Quick ratio12.Cash raticSolvency ratios:13. Debt/equity ratioMarket ratios:14. Price/earnings ratio15. Dividend yield ratioBLUE WATERCOMPANY%OV%%%%PRIME FISHCOMPANY%%%%%

Ratio analysis involves the use of various financial metrics to evaluate the performance, financial…

Required: 1. Complete a schedule that reflects a ratio analysis of each company. (Round your intermediate calculations and final answers to 2 decimal places. Enter percentage answers rounded to 2 decimal places (i.e. 0.1234 should be entered as 12.34).) Profitability ratios: 1. 2. 3. 4. 5. Earnings per share Turnover ratios: 6. 7. Ratio Total asset turnover Fixed asset tumover 8. Receivable turnover 9. Inventory tumover Liquidity ratios: 10. Current ratio Quick ratio Cash ratio Solvency ratios: 11. 12. Return on equity Return on assets Financial leverage percentage Net profit margin 13. Debt/equity ratio Market ratios: 14. Pricelearnings ratio 15. Dividend yield ratio BLUE WATER COMPANY % % 1% % PRIME FISH COMPANY % % % % %

Required: 1. Complete a schedule that reflects a ratio analysis of each company. (Round your intermediate calculations and final answers to 2 decimal places. Enter percentage answers rounded to 2 decimal places (i.e. 0.1234 should be entered as 12.34).) Profitability ratios: 1. 2. 3. 4. 5. Earnings per share Turnover ratios: 6. 7. Ratio Total asset turnover Fixed asset tumover 8. Receivable turnover 9. Inventory tumover Liquidity ratios: 10. Current ratio Quick ratio Cash ratio Solvency ratios: 11. 12. Return on equity Return on assets Financial leverage percentage Net profit margin 13. Debt/equity ratio Market ratios: 14. Pricelearnings ratio 15. Dividend yield ratio BLUE WATER COMPANY % % 1% % PRIME FISH COMPANY % % % % %

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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