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For the FY 2016, Alpha Company had net sales of $850,000 and net income of $50,000, paid income taxes of $20,000

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Q2. For the FY 2016, Alpha Company had net sales of $850,000 and net income of $50,000, paid income taxes of $20,000, and had before tax interest expense of $10,000. Use this information to determine the: (Round & enter your answers to one decimal place and enter the value.)

1. Times Interest Earned Ratio

2. Profit Margin 

 

Q4. The following financial information is for Alpha Corporation are for the fiscal years ending 2017 & 2016 (all balances are normal):

Item/Account

2017

2017 2016

Accounts Receivable

$9,800  $9,400

Inventory

25,000  16,000

Net Sales (all credit)

80,000  71,000

Cost of Goods Sold

49,000  52,000

Net Income

7,200  6,900

Use this information to determine for FY 2017: (Round & enter your answers to one decimal place and enter the value.)

 

1. the accounts receivable turnover ratio

2. average collection period accounts receivable

3. Gross Profit Margin

4. Profit Margin

 

Q6. The following financial information is for Alpha Corporation are for the fiscal years ending 2017 & 2016 (all balances are normal):

Item/Account

2017 2016

Cash

$26,000 $16,000

Accounts Receivable

40,000 50,000

Inventory

30,000 22,000

Current Liabilities

76,000 42,000

Net Sales (all credit)

390,000 360,000

Cost of Goods Sold

270,000 250,000

Use this information to determine for FY 2017: (Round & enter your answers to one decimal place and enter the value.)

1. the inventory turnover ratio

2. number of days of inventory

3. Gross Profit Margin

 

Q7 The following financial information is for Alpha Corporation are for the fiscal years ending 2017 & 2016 (all balances are normal):

Item/Account

2017 2016

Cash $26,000 $16,000

Accounts Receivable 40,000 50,000

Inventory 30,000 22,000

Current Liabilities 76,000 42,000

Net Sales (all credit) 390,000 360,000

Cost of Goods Sold 260,000 250,000

Use this information to determine for FY 2017: (Round & enter your answers to one decimal place and enter the value.)

1. the Accounts Receivable turnover ratio

2. Average Accounts Receivable collection period

3. Gross Profit Margin

 

Q8 The following financial information is for Alpha Corporation are for the fiscal years ending 2017 & 2016 (all balances are normal):

Item/Account

2017 2016

Cash $26,000 $16,000

Accounts Receivable 30,000 50,000

Inventory 30,000 22,000

Current Liabilities 76,000 42,000

Net Sales (all credit) 390,000 360,000

Cost of Goods Sold 260,000 250,000

Use this information to determine the quick ratio for FY 2017: (Round & enter your answers to one decimal place and enter the value.)

 

he following financial information is for Alpha Corporation are for the fiscal years ending 2017 & 2016 (all balances are normal):

Item/Account

2017 2016

Cash $26,000 $16,000

Accounts Receivable 40,000 50,000

Inventory 30,000 22,000

Current Liabilities 76,000 42,000

Net Sales (all credit) 390,000 360,000

Cost of Goods Sold 260,000 250,000

 

Q13 Use this information to determine for FY 2017: (Round & enter your answers to one decimal place for non-dollar ratios and enter the value. For dollar ratio enter as whole dollars only.)

1. the Current Ratio

2. Working Capital

 The following information is related to Alpha Company's fiscal year 2017. 

            Income Statement:

                        Net Income                             $3,000,000

                        Depreciation Expense               500,000

                        Gain on Sale of Plant Assets                  50,000

                        Interest Expense                            5,000

            Balance Sheet - 12/31/17: Increase (Decrease)

                        Accounts Payable                  ($40,000)

                        Plant Assets - Purchased       275,000

                        Plant Assets - Disposals         (100,000)

                        

            Additional Information:

                        Common Stock exchanged for outstanding Long Term Notes Payable of $125,000

                        Dividends paid were $30,000 

Use this information to determine Alpha Company's Net Cash Flows from Investing Activities. If the amount is an outflow then enclose the amount with dollar sign inside of brackets ( ):

 

 

 

 

Q14 The following information is related to Alpha Company's fiscal year 2017. 

            Income Statement:

                        Net Income                             $3,000,000

                        Depreciation Expense               500,000

                        Gain on Sale of Plant Assets                  50,000

                        Interest Expense                            5,000

            Balance Sheet - 12/31/17: Increase (Decrease)

                        Accounts Payable                 ($40,000)

                        Plant Assets - Purchased       250,000

                        Plant Assets - Disposals         (100,000)

                        

            Additional Information:

                        Common Stock exchanged for outstanding Long Term Notes Payable of $135,000

                        Dividends paid were $45,000 

Use this information to determine Alpha Company's Net Cash Flows from Financing Activities. If the amount is an outflow then enclose the amount with dollar sign inside of brackets ( ):

 

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