Need some help thank you very much :p Prepare financial statements 4. Use the fo

Question

Need some help thank you very much :p Prepare financial statements 4. Use the following ist of ratios to identity with the proper Accounts receivable Profit margin turmoverCurrent ratio Acid-test ratio Basic earnings per share Days' sales in inventory Return on assets Times interest eaned Total asset turnover ratioy ratio Debt ratio Debt-to-equity ratio Gross margin ratio Days' sales uncollected Totalasets divided by current liabilities Net income divided by average Cash and cash equivalents plus short-te investments plus current receivables divided by current liabilities Net sales minus cost of goods so by net sales Cost of goods sold divided average inventory 2. 3, Net income divided by net sales es divided by total assets e total asse 5. 6. nt liabitsds sold divic 8. Ending inventory divided by cost of go sold multiplied by 365 days 9. Accounts receivable divided by net sa multiplied by 365 days Net sales divided by average accoun receivable, net Income before interest expense and taxes divided by interest expense 10 12. 13 14 Total liabilities divided by total equit Net sales divided by average total Net income minus preferred divide divided by weighted-average com shares outstanding. 5. What is the accounting equation? 6. What is the normal balance of an asset?

Explanation / Answer

5. Accounting equation -

Assets = Liabilities + Owner's Equity

6. Debit Balance

7. Credit Balance

1 Profit Margin 2 Current Ratio 3 Debt ratio 4 Return on asset 5 Acid Test Ratio 6 Gross margin ratio 7 Inventory turnover 8 Days sales in inventory 9 Days sales uncollected 10 Account receivable turnover ratio 11 Times interest earned 12 Debt to equity ratio 13 Total Asset turnover 14 Basic earning per share

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