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Financial statements for askew industries

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Reference no: EM131817790

Financial statements for Askew Industries for 2016 are shown below (in $000's):

2016 Income Statement
  Sales
 9,000
  Cost of goods sold
(6,300)
 
  Gross profit
2,700
  Operating expenses
(2,000)
  Interest expense
(200)
  Tax expense
(200)
 
       Net income
$300
 

 

Comparative Balance Sheets
  Dec. 31
  2016 2015
Assets    
  Cash 600 500
  Accounts receivable 600 400
  Inventory 800 600
  Property, plant, and equipment (net) 2,000 2,100
 
  4,000 3,600

 

  
 
  Liabilities and Shareholders' Equity    



  Current liabilities 1,100 850

 
  Bonds payable  1,400 1,400

 
  Paid-in capital  600 600

 
  Retained earnings  900 750

 
 
  $4,000 $3,600
   

Required:

Calculate the following ratios for 2016. (Consider 365 days a year. Do not round intermediate calculations and round your final answers to 2 decimal places.)

Reference no: EM131817790

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