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problem: The following are the year-end balances of Salter Corporation for 2006 and 2007:

 

31-Dec-07

31-Dec-06

Cash

$65,000

$45,000

Accounts Receivable

80,000

50,000

Inventory

55,000

25,000

Property, Plant, and Equip

500,000

400,000

Total assets

$700,000

$520,000

 

   

Accounts Payable

75,000

60,000

Bonds Payable (due in 2010)

100,000

100,000

Capital Stock

300,000

200,000

Retained Earnings

225,000

160,000

Total liabilities & Equity

$700,000

$520,000

Needed: If income for 2007 was dollar150,000, provide the following data of December 31, 2007: [Do not forget the articulation of statements discussed during Week 2 and 3- including retained earnings].

[A] Dividends declared (2007 only) = $____
[B] Debt ratio (2007 only) = ______
[C] Current ratio (2007 only) = ______
[D] Debt-to-equity ratio (2007 only)= _____

Basic Finance, Finance

  • Category:- Basic Finance
  • Reference No.:- M920622

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