question archive Financial statement data of American Traveler Magazine include the following items:Cash
Financial statement data of American Traveler Magazine include the following items:Cash
Subject:FinancePrice: Bought3
Financial statement data of American Traveler Magazine include the following items:Cash . . . . . . . . . . . . . . . . . . . . . . $ 23,000Accounts receivable, net . . . . . . . 79,000Inventories . . . . . . . . . . . . . . . . . 184,000Total assets . . . . . . . . . . . . . . . . . 634,000Accounts payable . . . . . . . . . . . . 104,000Accrued liabilities . . . . . . . . . . . . 40,000Short-term notes payable . . . . . . 47,000Long-term liabilities . . . . . . . . . . 221,000Net income . . . . . . . . . . . . . . . . . 74,000Common shares outstanding . . . 60,000Requirements1. Compute American Traveler’s current ratio, debt ratio, and earnings per share. Round all ratios to two decimal places, and use the following format for your answer:2. Compute the three ratios after evaluating the effect of each transaction that follows. Consider each transaction separately.(a) Purchased inventory of $49,000 on account.(b) Borrowed $122,000 on a long-term note payable.(c) Issued 6,000 shares of common stock, receiving cash of $103,000.(d) Received cash on account,$3,000.
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Financial statement data of American Traveler Magazine include t
