Table 1: Financial Statements Emery Corporation Financial Statements

Emery Corporation

Financial Statements
For the year ended December 31, 2017

Balance Sheet Income Statement
Assets:
Cash $150,000 Sales (all credit) $8,000,000
Accounts receivable 450,000 Cost of goods sold (4,000,000)
Inventory 400,000 Operating expense (2,900,000)
Net fixed assets 2,100,000 Interest expense (150,000)
Total assets $3,000,000 Income taxes (380,000)
Net income $570,000
Liabilities and owners’ equity:
Accounts payable $100,000
Long-term Notes payable 450,000
Long-term debt 1,050,000

Owners’ Equity 1,400,000
Total liabilities and owner’s equity $3,000,000 Earnings Per Share 2.20

Market price per share = 35

Table 2: Industry Average
Ratio Industry Average
Current Ratio 11%
Quick Ratio 6.5%
Average Collection Period 26 Days
Operating Return on Assets 30%
Total Asset Turnover 2.20 X
Inventory turnover 7X (52 Days)
Debt Ratio 51.20%
ROE 31.33%
Price Earnings Ratio 12.70 X

Q1- Compute the following:

Current Ratio
Quick Ratio
Average Collection Period
Operating Return on Assets
Total Asset Turnover
Inventory turnover
Debt Ratio
ROE
Price Earnings Ratio

Please use Excel to answer