Set up an income statement, assignment help

/in /by

Complete the following abbreviated financial statements, and calculate per share ratios indicated. (Hint: Start by subtracting the formula for the quick ratio from that for the current ratio and equating that to the numerical difference.)

Tribke Enterprises collected the following data from its financial reports for 2012:
Stock price  $18.37
Inventory balance  $300,000
Expenses (excluding COGS)  $1,120,000
Shares outstanding                                 290,000
Average issue price of shares                 $5.00
Gross margin %                                       40%
Interest rate  8%
TIE ratio                                                   8
Inventory turnover  12 x
Current ratio  1.5
Quick ratio  .75
Fixed asset turnover  1.5

Complete the following abbreviated financial statements, and calculate per share ratios indicated. (Hint: Start by subtracting the formula for the quick ratio from that for the current ratio and equating that to the numerical difference.)

 
Do you need a similar assignment done for you from scratch? We have qualified writers to help you. We assure you an A+ quality paper that is free from plagiarism. Order now for an Amazing Discount!
Use Discount Code "Newclient" for a 15% Discount!

NB: We do not resell papers. Upon ordering, we do an original paper exclusively for you.