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Use the following to answer questions 1-10:                       SHOW YOUR WORK!!!!!

 

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MEGAFRAME COMPUTER COMPANY

Balance Sheet

As of December 31, 2003

 

ASSETS

 

Cash $  40,000
Accounts Receivable 60,000
Inventory 90,000
New Plant and Equipment   220,000
Total Assets $410,000
 

LIABILITIES AND STOCKHOLDERS’ EQUITY

 

Accounts Payable $  60,000
Accrued Expenses 40,000
   
Long-Term debt 130,000
Common Stock 60,000
Paid-In capita 20,000
Retained earnings   100,000
   Total Liabilities and Stockholders’ Equity $410,000

 

MEGAFRAME COMPUTER COMPANY

Income Statement

For the Year Ended December 31, 2003

 

Sales (all on credit) $720,000
Cost of Goods Sold   500,000
Gross Profit 220,000
Sales and Administrative Expense 20,000
Depreciation     40,000
Operating Profit 160,000
Interest Expense     16,000
Profit before Taxes 144,000
Taxes (30%)     43,200
Net Income $100,800
   

 

           ******SHOW YOUR WORK*******

1. Using the DuPont method, return on assets (investment) for Megaframe Computer is approximately

2.  The firm’s average collection period is

BUS201

Take home exam 1         *****SHOW YOUR WORK*****

3. Times interest earned for Megaframe Computer is

4. Megaframe’s quick ratio is

5. Megaframe’s current ratio is

6. The firm’s debt to asset ratio is

7. What is Megaframe Computer’s total asset turnover?

8. Compute Megaframe’s after tax profit margin.

9. The firm’s return on equity is

10. The firm’s receivable turnover is

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