PART D Analysis The condensed financial statements of Alexandria Corporation for

Question

PART D Analysis The condensed financial statements of Alexandria Corporation for 2016 are presented below of Balance Sheet Income Statement For the Year Ended December 31. 2016 Assets $2,000,000 Cash and cash equivalents Revenues 30,000 Expenses: Accounts receivable Inventory Property, plant, and equipment (net) Cost of goods sold 1,080,000 70,000 110,000 Selling and admin expenses 495,000 495,000 Interest expense Total assets $990.000 Total expenses Income before income taxes 400,000 Liabilities and Stockholders Equity Provision for Income tax Current labilities Long-term liabilities $ 75,000 Net income 300,000 Common stockholders' equity 615,000 Total liabilities and stockholders' equity S220.000 Q23 Using the amounts above, compute the current ratio for Alexandria Corporation. SHOW WORK /round to two decimal places. Current ratio =- 024 In a common sized income statement (vertical analysis), each item on the income statement is expressed as a percentage of a. Net income. b. Gross margin (gross profit). c. Total expenses. d. Sales revenue. 025 Assume the following sales revenue for a company: 2015-$960,000 2014-$720,000 2013 $600,000 What is the percentage increase in sales from 2013 to 2014? a, 60% b.20% c. 120% d. 160% 2018 Spring Tamke Exam 3 VA Ch 13, 3, 4 ACCT 115

Explanation / Answer

Q23) Current ratio = Current assets/Current liabilities

= 210000/75000

Current ratio = 2.8:1

Q24) d) Sales revenue

Q25) Percentage change = (720000-600000)*100/600000 = 20%

so answer is b) 20%

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