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Category > Accounting Posted 06 Aug 2017 My Price 5.00

Evensen Furniture Company

E13-33B (Learning Objective 5: Analyze the ability to pay liabilities) Evensen Furniture Company has requested that you determine whether the company’s ability to pay its current liabilities and long-term debts improved or deteriorated during 2012. To answer this question, compute the following ratios for 2012 and 2011. (Round your answers to two decimal places.)

a. Working capital

b. Current ratio

c. Quick (acid-test) ratio

d. Debt ratio

e. Times-interest-earned ratio

Summarize the results of your analysis in a written report.

2012 2011
Cash ...........................................	$ 40,000	$ 50,000
Short-term investments.................	31,000	6,000
Net receivables .............................	121,000	129,000
Inventory......................................	238,000	267,000
Prepaid expenses ..........................	15,000	5,000
Total assets...................................	570,000	540,000
Total current liabilities .................	237,000	151,000
Long-term debt ............................	87,000	255,000
Income from operations ...............	250,000	199,000
Interest expense............................	40,000	40,000

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Status NEW Posted 06 Aug 2017 10:08 AM My Price 5.00

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