Question description

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.)