ezto.mheducation.com/hm.tpx Problem 12-6A Use ratios to analyze risk and profita

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ezto.mheducation.com/hm.tpx Problem 12-6A Use ratios to analyze risk and profitability (1012-3, 12-4 The following information applies to the questions displayed below Income statements and balance sheets data for Virtual Gaming Systems are provided below Income Statements For the year ended December 31 2018 $3,545,000 2,487,000 $3,071,000 1,957,000 Net sales Cost of goods sold Gross proft 1,058,000 1,114,000 Expenses Operating expenses Depreclation expense Loss on sale of land Interest expense Income tax expense 962.000 37,000 0 21,500 8,700 865,000 30,500 8,700 18,500 51,500 Total expenses 1,029,200 974,200 Net Income s 28,800 $ 139,800 VIRTUAL GAMING SYSTEMS Balance Sheets December 31 2019 2018 Assets Current assets: Cash s 211.500 $193.000 e here to search

Explanation / Answer

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2018 2019 Receivables Turnover Ratio 39.6 times 40.9 times Inventory Turnover Ratio 15.4 times 20.10 times Current Ratio 4.10 to 1 2.9 to 1 Debt to Equity Ratio 72.2 % 145.6 %

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