Question Details

(Solution Download) Acc362-The condensed financial statements of Eau Fraîche Company for the years 2010 and 2011 are...

Brief item decscription

Instant Solution Download for the question described below


Item details:

 

The condensed financial statements of Eau Fraîche Company for the years 2010 and 2011 are presented below.

 

 

 

 

 

EAU FRAÎCHE COMPANY

 

 

 

 

 

Balance Sheets

 

 

 

 

 

December 31

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

2011

 

 

 

 

 

 

2010

 

 

 

 

 

 

Current assets

 

 

 

 

 

 

 

 

Cash and cash equivalents

 

 

 

 

 

 

330

 

 

 

 

 

 

360

 

 

 

 

 

 

Accounts receivable (net)

 

 

 

 

 

 

470

 

 

 

 

 

 

400

 

 

 

 

 

 

Inventories

 

 

 

 

 

 

460

 

 

 

 

 

 

390

 

 

 

 

 

 

Prepaid expenses

 

 

 

 

 

 

120

 

 

 

 

 

 

160

 

 

 

 

 

 

Total current assets

 

 

 

 

 

 

1,380

 

 

 

 

 

 

1,310

 

 

 

 

 

 

Property, plant, and equipment

 

 

 

 

 

 

420

 

 

 

 

 

 

380

 

 

 

 

 

 

Investments

 

 

 

 

 

 

10

 

 

 

 

 

 

10

 

 

 

 

 

 

Intangibles and other assets

 

 

 

 

 

 

530

 

 

 

 

 

 

510

 

 

 

 

 

 

Total assets

 

 

 

 

 

 

2,340

 

 

 

 

 

 

2,340

 

 

 

 

 

 

Current liabilities

 

 

 

 

 

 

900

 

 

 

 

 

 

790

 

 

 

 

 

 

Long-term liabilities

 

 

 

 

 

 

410

 

 

 

 

 

 

380

 

 

 

 

 

 

Stockholders'equity - common

 

 

 

 

 

 

1,030

 

 

 

 

 

 

1,040

 

 

 

 

 

 

Total liabilities and stockholders'equity

 

 

 

 

 

 

2,340

 

 

 

 

 

 

2,210

 

 

 

 

 

 

 

 

 

 

 

 

EAU FRAÎCHE COMPANY

 

 

 

 

 

Income Statement

 

 

 

 

 

For the Years Ended December 31

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

2011

 

 

 

 

 

 

2010

 

 

 

 

 

 

Revenues

 

 

 

 

 

 

3,800

 

 

 

 

 

 

3,480

 

 

 

 

 

 

Costs and expenses

 

 

 

 

 

 

 

 

Cost of goods sold

 

 

 

 

 

 

970

 

 

 

 

 

 

890

 

 

 

 

 

 

Selling and administrative expenses

 

 

 

 

 

 

2,400

 

 

 

 

 

 

2,330

 

 

 

 

 

 

Interest expense

 

 

 

 

 

 

10

 

 

 

 

 

 

20

 

 

 

 

 

 

Total costs and expenses

 

 

 

 

 

 

3,380

 

 

 

 

 

 

3,240

 

 

 

 

 

 

Income before income taxes

 

 

 

 

 

 

420

 

 

 

 

 

 

220

 

 

 

 

 

 

Income tax expense

 

 

 

 

 

 

168

 

 

 

 

 

 

132

 

 

 

 

 

 

Net income

 

 

 

 

 

 

252

 

 

 

 

 

 

88

 

 

 

 

 

 

 

 

 

 

Compute the following ratios for 2010 and 2011. (Round current ratio and inventory turnover to 2 decimal places, e.g. 2.50. Round all other answers to 1

 

decimal place, e.g. 5.2.)

 

 







About this question:
STATUS
Answered
QUALITY
Approved
ANSWER RATING

This question was answered on: Oct 24, 2017

PRICE: $15.99

Solution~00017289236480.zip (18.37 KB)

Buy this answer for only: $15.99

Pay using PayPal (No PayPal account Required) or your credit card. All your purchases are securely protected by PayPal.
SiteLock

Need a similar solution fast, written anew from scratch? Place your own custom order

We have top-notch tutors who can help you with your essay at a reasonable cost and then you can simply use that essay as a template to build your own arguments. This we believe is a better way of understanding a problem and makes use of the efficiency of time of the student. New solution orders are original solutions and precise to your writing instruction requirements. Place a New Order using the button below.

Order Now
v>