The balance sheet and income statement for the J. P.Robard Mfg. Company are as follows:Calculate the following ratios: Current ratioTimes interest earnedInventory turnoverTotal asset turnoverOperating profit marginOperating return on assetsDebt ratioAverage collection periodFixed asset turnoverReturn on equityJ. P. Robard Mfg., Inc. Balance Sheet ($000)Cash $550Accounts receivable 2,100Inventories 1,060Current assets $3,710Net fixed assets 4,520Total assets $8,230Accounts payable $1,200Accrued expenses 610Short-term notes payable 280Current liabilities $2,090Long-term debt 2,000Owners' equity 4,140Total liabilities and owners' equity $8,230J. P. Robard Mfg., Inc. Income Statement ($000)Net sales (all credit) $7,940Cost of goods sold 3,310Gross Profit $4,630Operating expenses (includes $500 depreciation) 3,050Net operating income $1,580Interest expense 368Earnings before taxes $1,212Income taxes (40%) 485Net income $727

Accounting Ratios: The mathematical relation between two or more financial figures is known as…

The balance sheet and income statement for the J. P. Robard Mfg. Company are as follows: Calculate the following ratios: Current ratio Times interest earned Inventory turnover Total asset turnover Operating profit margin Operating return on assets Debt ratio Average collection period

The balance sheet and income statement for the J. P. Robard Mfg. Company are as follows: Calculate the following ratios: Current ratio Times interest earned Inventory turnover Total asset turnover Operating profit margin Operating return on assets Debt ratio Average collection period

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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