Chapter 15 – Financial Statement Analysis
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200. Excerpts from Stepney Corporation’s most recent balance sheet (in thousands of dollars)
appear below:
Sales on account during the year totaled $1,440 thousand. Cost of goods sold was $890
thousand.
Required:
Compute the following for Year 2:
a. Working capital.
b. Current ratio.
c. Acid-test ratio.
d. Accounts receivable turnover.
e. Average collection period.
f. Inventory turnover.
g. Average sale period.
Chapter 15 – Financial Statement Analysis
201. Heningburg Corporation’s total current assets are $230,000, its noncurrent assets are
$530,000, its total current liabilities are $140,000, its long-term liabilities are $370,000, and
its stockholders’ equity is $250,000.
Required:
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202. Gaskamp Corporation’s total current assets are $270,000, its noncurrent assets are
$610,000, its total current liabilities are $170,000, its long-term liabilities are $400,000, and
its stockholders’ equity is $310,000.
Required:
203. Data from Weichbrodt Corporation’s most recent balance sheet appear below:
Required:
Compute the company’s acid-test ratio. Show your work!
Chapter 15 – Financial Statement Analysis
204. Millage Corporation has provided the following data:
Required:
Compute the accounts receivable turnover for this year. Show your work!
Chapter 15 – Financial Statement Analysis
205. Data from Adame Corporation’s most recent balance sheet and income statement appear
below:
Required:
Compute the average collection period for this year:
Chapter 15 – Financial Statement Analysis
206. Eaglen Corporation has provided the following data:
Required:
Compute the inventory turnover for this year:
Chapter 15 – Financial Statement Analysis
207. Data from Ankeny Corporation’s most recent balance sheet and income statement appear
below:
Required:
Compute the average sale period for this year:
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208. Zide Corporation’s most recent balance sheet and income statement appear below:
Chapter 15 – Financial Statement Analysis
Required:
Compute the following for Year 2:
a. Times interest earned.
b. Debt-to-equity ratio.
Chapter 15 – Financial Statement Analysis
209. Pettengill Corporation’s net operating income last year was $280,000; its interest expense
was $37,000; its total stockholders’ equity was $920,000; and its total liabilities were
$620,000.
Required:
Compute the following for Year 2:
a. Times interest earned.
b. Debt-to-equity ratio.
Chapter 15 – Financial Statement Analysis
210. Dehne Corporation has provided the following data from its most recent income
statement:
Required:
Compute the times interest earned ratio. Show your work!
211. Schiff Corporation has provided the following data from its most recent balance sheet:
Required:
Compute the debt-to-equity ratio. Show your work!