2016 2017 2016 2017 Current assets $ 934 $ 984 Currentliabilities $ 375 $ 398 Net fixed assets 3,897 4,576 Long-term debt2,021 2,167 WESTON ENTERPRISES 2017 Income Statement Sales $ 11,770Costs 5,710 Depreciation 1,060 Interest paid 180 a. What wasowners' equity for 2016 and 2017? (Do not round intermediatecalculations.) Owners' equity 2016 $ Owners' equity 2017 $ b. Whatwas the change in net working capital for 2017? (Do not roundintermediate calculations.) Change in NWC $ c-1 In 2017, thecompany purchased $1,845 in new fixed assets. How much in fixedassets did the company sell? (Do not round intermediatecalculations.) Fixed assets sold $ c-2 In 2017, the companypurchased $1,845 in new fixed assets. What was the cash flow fromassets for the year? The tax rate is 35 percent. (Do not roundintermediate calculations.) Cash flow from assets $ d-1 During2017, the company raised $400 in new long-term debt. How muchlong-term debt must the company have paid off during the year? (Donot round intermediate calculations.) Debt retired $ d-2 During2017, the company raised $400 in new long-term debt. What was thecash flow to creditors? (Do not round intermediate calculations.)Cash flow to creditors $
2016 2017 2016 2017 Current assets $ 934 $ 984 Currentliabilities $ 375 $ 398 Net fixed assets 3,897 4,576 Long-term debt2,021 2,167 WESTON ENTERPRISES 2017 Income Statement Sales $ 11,770Costs 5,710 Depreciation 1,060 Interest paid 180 a. What wasowners' equity for 2016 and 2017? (Do not round intermediatecalculations.) Owners' equity 2016 $ Owners' equity 2017 $ b. Whatwas the change in net working capital for 2017? (Do not roundintermediate calculations.) Change in NWC $ c-1 In 2017, thecompany purchased $1,845 in new fixed assets. How much in fixedassets did the company sell? (Do not round intermediatecalculations.) Fixed assets sold $ c-2 In 2017, the companypurchased $1,845 in new fixed assets. What was the cash flow fromassets for the year? The tax rate is 35 percent. (Do not roundintermediate calculations.) Cash flow from assets $ d-1 During2017, the company raised $400 in new long-term debt. How muchlong-term debt must the company have paid off during the year? (Donot round intermediate calculations.) Debt retired $ d-2 During2017, the company raised $400 in new long-term debt. What was thecash flow to creditors? (Do not round intermediate calculations.)Cash flow to creditors $
Related questions
Bethesda Mining Company reports the following balance sheetinformation for 2015 and 2016.
| BETHESDA MINING COMPANY Balance Sheets as of December 31, 2015 and 2016 | |||||||||||||||||
| 2015 | 2016 | 2015 | 2016 | ||||||||||||||
| Assets | Liabilities and Ownersâ Equity | ||||||||||||||||
| Current assets | Current liabilities | ||||||||||||||||
| Cash | $ | 70,322 | $ | 88,509 | Accounts payable | $ | 185,922 | $ | 193,611 | ||||||||
| Accounts receivable | 66,281 | 86,639 | Notes payable | 81,020 | 132,588 | ||||||||||||
| Inventory | 114,322 | 178,920 | Total | $ | 266,942 | $ | 326,199 | ||||||||||
| Total | $ | 250,925 | $ | 354,068 | Long-term debt | $ | 229,000 | $ | 165,750 | ||||||||
| Ownersâ equity | |||||||||||||||||
| Common stock and paid-in surplus | $ | 226,000 | $ | 226,000 | |||||||||||||
| Fixed assets | Accumulated retained earnings | 187,930 | 226,197 | ||||||||||||||
| Net plant and equipment | $ | 658,947 | $ | 590,078 | Total | $ | 413,930 | $ | 452,197 | ||||||||
| Total assets | $ | 909,872 | $ | 944,146 | Total liabilities and ownersâ equity | $ | 909,872 | $ | 944,146 | ||||||||
Based on the balance sheets given for Bethesda Mining, calculatethe following financial ratios for each year:
a. Current ratio. (Do not roundintermediate calculations and round your answers to 2 decimalplaces, e.g., 32.16.)
| Current ratio | ||
| 2015 | times | |
| 2016 | times | |
b. Quick ratio. (Do not roundintermediate calculations and round your answers to 2 decimalplaces, e.g., 32.16.)
| Quick ratio | ||
| 2015 | times | |
| 2016 | times | |
c. Cash ratio. (Do not roundintermediate calculations and round your answers to 2 decimalplaces, e.g., 32.16.)
| Cash ratio | ||
| 2015 | times | |
| 2016 | times | |
d. Debtâequity ratio and equity multiplier.(Do not round intermediate calculations and round youranswers to 2 decimal places, e.g., 32.16.)
| Debtâequity ratio | Equity multiplier | ||||||
| 2015 | times | times | |||||
| 2016 | times | times | |||||
e. Total debt ratio. (Do not roundintermediate calculations and round your answers to 2 decimalplaces, e.g., 32.16.)
| Total debt ratio | |||
| 2015 | times | ||
| 2016 | times | ||
ANSWER ALL PARTS
Some recent financial statements for Smolira Golf, Inc.,follow.
| SMOLIRA GOLF, INC. Balance Sheets as of December 31, 2015 and 2016 | ||||||||||||||||
| 2015 | 2016 | 2015 | 2016 | |||||||||||||
| Assets | Liabilities and Ownersâ Equity | |||||||||||||||
| Current assets | Current liabilities | |||||||||||||||
| Cash | $ | 3,181 | $ | 3,257 | Accounts payable | $ | 2,158 | $ | 2,610 | |||||||
| Accounts receivable | 4,762 | 5,771 | Notes payable | 1,755 | 2,126 | |||||||||||
| Inventory | 12,498 | 13,772 | Other | 91 | 108 | |||||||||||
| Total | $ | 20,441 | $ | 22,800 | Total | $ | 4,004 | $ | 4,844 | |||||||
| Long-term debt | $ | 13,300 | $ | 16,060 | ||||||||||||
| Ownersâ equity | ||||||||||||||||
| Common stock and paid-in surplus | $ | 38,500 | $ | 38,500 | ||||||||||||
| Fixed assets | Accumulated retained earnings | 15,659 | 39,185 | |||||||||||||
| Net plant and equipment | $ | 51,022 | $ | 75,789 | Total | $ | 54,159 | $ | 77,685 | |||||||
| Total assets | $ | 71,463 | $ | 98,589 | Total liabilities and ownersâ equity | $ | 71,463 | $ | 98,589 | |||||||
| SMOLIRA GOLF, INC. 2016 Income Statement | |||||
| Sales | $ | 187,570 | |||
| Cost of goods sold | 126,303 | ||||
| Depreciation | 5,323 | ||||
| EBIT | $ | 55,944 | |||
| Interest paid | 1,420 | ||||
| Taxable income | $ | 54,524 | |||
| Taxes | 19,083 | ||||
| Net income | $ | 35,441 | |||
| Dividends | $ | 11,915 | |||
| Retained earnings | 23,526 | ||||
Smolira Golf has 11,000 shares of common stock outstanding, andthe market price for a share of stock at the end of 2016 was$78.
What is the priceâearnings ratio? (Do not roundintermediate calculations and round your answer to 2 decimalplaces, e.g., 32.16.)
Priceâearnings ratio times
What is the priceâsales ratio? (Do not round intermediatecalculations and round your answer to 2 decimal places, e.g.,32.16.)
Priceâsales ratio times
What are the dividends per share? (Do not roundintermediate calculations and round your answer to 2 decimalplaces, e.g., 32.16.)
Dividends per share $
What is the market-to-book ratio at the end of 2016? (Donot round intermediate calculations and round your answer to 2decimal places, e.g., 32.16.)
Market-to-book ratio times
