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Posted: March 28th, 2019
Set up an income statement
Question description
Complete the following abbreviated
financial statements, and calculate per share ratios indicated. (Hint: Start by
subtracting the formula for the quick ratio from that for the current ratio and
equating that to the numerical difference.)
Tribke
Enterprises collected the following data from its financial reports for 2012:
Stock
price
$18.37
Inventory
balance
$300,000
Expenses (excluding
COGS)
$1,120,000
Shares outstanding
290,000
Average issue price of shares
$5.00
Gross margin %
40%
Interest rate
8%
TIE ratio
8
Inventory
turnover
12 x
Current
ratio
1.5
Quick
ratio
.75
Fixed asset
turnover
1.5
Complete the
following abbreviated financial statements, and calculate per share ratios
indicated. (Hint: Start by subtracting the formula for the quick ratio from
that for the current ratio and equating that to the numerical difference.)
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