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In 2008 sales revenue was $120 and net income was $12. 1/1/08 balances were Current Assets $20, Long-Term Assets $70, Current Liabilities $8, Long-Term Liabilities $32, and Equity $50. 12/31/08 balances were Current Assets $24, Long-Term Assets $86, Current Liabilities $10, Long-Term Liabilities $40, and Equity $60. Compute the following ratios: current, debt-to-equity, return on sales, and asset turnover.

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Accounting Basics, Accounting

Category:- Accounting Basics
Reference No.:- M9956310

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