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Phoniex University
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Please I needVIJAYAKUMAR GANESAN to do it
Happy Hamburger Company(130 Points)
Below are the balance sheet and income statement for Happy Hamburger Company.
Happy Hamburger Company | ||||
Balance Sheet as of December 31, 20XX | ||||
Assets |
 |  |
Liabilities and Shareholder Equity |
 |
Cash |
78,000 |
 |
Accounts payable |
136,000 |
Accounts Receivable |
336,500 |
 |
Current portion of debt |
82,500 |
Inventories |
225,000 |
 |
Other current liabilities |
114,000 |
Total current assets |
639,500 |
 |
Total current liabilities |
332,500 |
Net fixed assets |
310,000 |
 |
Long-term debt |
252,000 |
Total assets |
949,500 |
 |
Total Liabilities |
584,500 |
 |  |  |
Common equity |
365,000 |
 |  |  |
Total Liabilities & Equity |
949,500 |
Happy Hamburger Company | |
Income Statement for the year ending December 31, 20XX | |
Sales | 1,704,560 |
Cost of goods sold | 1,489,000 |
Selling, general and administrative expenses | 152,000 |
Earnings before interest and taxes (EBIT) | 63,560 |
Interest expense | 26,200 |
Earnings before taxes (EBT) | 37,360 |
Federal and state income taxes (40%) | 14,944 |
Net Income | 22,416 |
Required:
 |
Happy |
Industry |
Current ratio | Â | 1.7 |
Days sales outstanding (based on 365 day year) | Â | 36 days |
Inventory turnover | Â | 7.3 |
Fixed asset turnover | Â | 12.1 |
Total asset turnover | Â | 3.00 |
Return on sales | Â | 3.20% |
Return on assets | Â | 3.60% |
Return on equity | Â | 9.00% |
Debt ratio | Â | 71% |
Use an Excel spreadsheet for your answers.
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