question archive A partial balance sheet for Captain D's Sportswear is shown below
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A partial balance sheet for Captain D's Sportswear is shown below.
(dollars in thousands)
Assets: Liabilities: Cash$66 Accounts payable$248 Accounts receivable (net) 179 Other liabilities 89 Investments 57 Total current liabilities 337 Inventory 203 Long-term liabilities 114 Prepaid rent 27 Total liabilities 451 Total current assets 532 Stockholders' equity: Property & Equipment, (net) 261 Common stock 151 Retained earnings 191 Total stockholders' equity 342 Total assets$793 Total liabilities and equity$793
1. The current ratio is: (Round your answer to 2 decimal places.)
Multiple Choice
Excerpts from Stealth Company's December 31, 2021 and 2020, financial statements are presented below:
2021 2020Accounts receivable$30,000$42,000Inventory 29,000 38,000Net sales (all credit) 199,000 193,000Cost of goods sold 120,000 115,000Total assets 427,000 412,000Total stockholders' equity 244,000 227,000Net income 34,000 37,000
2. Stealth Company's 2021 receivables turnover ratio is:
Multiple Choice
Excerpts from TPX Company's December 31, 2021 and 2020, financial statements are presented below:
2021 2020Accounts receivable$84,000 $83,000Inventory 89,000 73,000Net sales 430,000 376,000Cost of goods sold 263,000 218,000Total assets 830,000 755,000Total stockholders' equity 480,000 450,000Net income 74,000 51,000
3. TPX Company's 2021 return on equity is: (Round your answer to 1 decimal place.)
Multiple Choice
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