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MATH SOLVER

Question

Selected information from the 2018 and 2017 financial statements of Super Ratio Corporation is presented below:

	As of December 31
	2018	2017
Cash	$ 21,000	$ 35,000
Marketable securities (current)	27,000	22,000
Accounts receivable (net)	60,000	98,000
Inventory	105,000	142,000
Prepaid expenses	5,000	3,000
Land and building (net)	247,000	315,000
Accounts payable	57,000	75,000
Accrued expenses	10,000	14,000
Notes payable (short-term)	8,000	4,000
Bonds payable (due in three years)	52,000	66,000

	As of December 31
	2018	2017
Cash sales	$750,000	$675,000
Credit sales (percent of cash sales)	82%	85%
Cost of goods sold (percent of total

sales)	60%	58%
Net income	$30,000	$38,000
Interest expense	6,000	9,000
Income tax expense	6,000	7,000

Compute the following ratios for Super Ratio Corporation as of December 31, 2018.

Round your answers to two decimal places.

Current ratio
Accounts receivable turnover
Inventory turnover
Asset turnover
Times interest earned
Comment on the firm’s liquidity in 2018.
If you were told that the industry average for inventory turnover were 11.2 in 2017 and 10.8 in 2018, what conclusions will you draw about the firm’s liquidity.

Part B

Dear Students

Please see below the Ungraded Discussion Question for Module 2

Activity Topic: Key features of the Statutory Annual Report

Accesses the statutory financial report from the web site of one Caribbean-based company.

Prepare brief notes on the following:

What information is provided by:

a. The Balance Sheet,

b. The Income Statement/Profit and Loss Statement,

c. The Statement of Cash Flow,

d. The Notes to the Financial Statement,

e. The Auditors’ Report.

Note who signs the annual report and why?

Write a brief reflective piece on your experience reading this financial statement.

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