When presenting, use a conversational style and many contractions, but speak slightly slower than in normal conversation
Indicate whether the statement is true or false
True
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Which of the following transactions does not affect cash during a period?
A) write-off of an uncollectible account. B) collection of an accounts receivable. C) sale of treasury stock. D) exercise of the call option on bonds payable.
Which of the following does not influence a worker's eligibility for, and amount of, unemployment benefits?
A) Waiting period B) Earnings record C) Continuing interest in employment D) Type of work performed
Which of the following is like a standard deviation for all error scores in regression?
a.Error of the estimate b.Error standard deviation c.Standard error of the estimate d.Precision of error score
he following income statement and balance sheets for Laser World are provided:Laser WorldIncome StatementFor the year-ended December 31, 2021Sales revenue$2,200,000Cost of goods sold 1,500,000Gross profit700,000 Expenses:? Operating expenses350,000 Depreciation expense70,000 Loss on sale of land5,000 Interest expense25,000 Income tax expense60,000 Total expenses 510,000Net income$190,000Laser WorldBalance SheetsDecember 31Assets20212020Current assets:?? Cash$120,000 $112,000 Accounts receivable90,000 70,000 Inventory120,000 100,000 Prepaid rent10,000 10,000 Long-term assets:?? Land260,000 200,000 Equipment350,000 210,000 Accumulated
depreciation (70,000) (42,000)Total assets$880,000 $660,000 Liabilities and Stockholders' EquityCurrent liabilities:?? Accounts payable$55,000 $75,000 Interest payable8,000 7,000 Income tax payable15,000 12,000 Long-term liabilities:?? Notes payable400,000 300,000 Stockholders' equity:?? Common stock200,000 200,000 Retained earnings 202,000 66,000 Total liabilities and equity$880,000 $660,000 Assuming that all sales were on account, calculate the following risk ratios for 2021 (round to one decimal place):1. Receivables turnover ratio2. Average collection period3. Inventory turnover ratio4. Average days in inventory5. Current ratio6. Acid-test ratio7. Debt to equity ratio8. Times interest earned ratio What will be an ideal response?