8 financial reporting questions

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3. Assume the following is select financial information for Kohl’s Corporation for fiscal 2016 ($ millions).

Current assets....................................

$4,775

Current liabilities.................................

2,590

Interest expense.................................

303

Total liabilities.....................................

7,586

Shareholders’ equity...........................

6,508

Earnings before interest and taxes.....

2,158



Compute the times interest earned ratio using Kohl’s reported financial information.

a. 0.140

b. 0.022

c. 7.122

d. 21.48

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2. The following is selected financial information for Joker Company for 2017. Cash $ 13,000 Accounts receivable 11,000 Current asset 36,000 Current liabilities 33,000 Long-term debt 170,000 Short-term debt 10,000 Total liabilities 230,000 Interest expense 15,000 Capital expenditures 16,000 Equity 46,000 Cash from operations Earnings before interest and taxes 1,000 16,000 Compute the free operating cash flow to total debt for Joker Company. a. 0.094 b. 0.739 c. -0.094 d. -0.083 5 3. Assume the following is select financial information for Kohl’s Corporation for fiscal 2016 ($ millions). Current assets.................................... $4,775 Current liabilities................................. 2,590 Interest expense................................. 303 Total liabilities..................................... 7,586 Shareholders’ equity........................... 6,508 Earnings before interest and 2,158 taxes..... Compute the times interest earned ratio using Kohl’s reported financial information. a. 0.140 b. 0.022 c. 7.122 d. 21.48 5. The following is selected financial information for Joker Company for 2017. Cash $ 13,000 Accounts receivable 11,000 Current asset 36,000 Current liabilities 33,000 Long-term debt 170,000 Short-term debt 10,000 Total liabilities 230,000 Interest expense 15,000 Capital expenditures 16,000 Equity 46,000 Cash from operations Earnings before interest and taxes 1,000 16,000 Compute the cash from operations to total debt for Joker Company. a. 0.004 b. 0.060 c. 0.055 d. 0.006 7. Assume the following is select financial information for Kohl’s Corporation for fiscal 2016 ($ millions). Current assets.................................... $4,775 Current liabilities................................. 2,590 Interest expense................................. 303 Total liabilities..................................... 7,586 Shareholders’ equity........................... 6,508 Earnings before interest and 2,158 taxes..... Compute the liabilities-to-equity ratio using Kohl’s reported financial information. a. 1.166 b. 0.858 c. 1.773 d. 0.949 10. The following is selected financial information for Joker Company for 2017. Cash $ 13,000 Accounts receivable 11,000 Current asset 36,000 Current liabilities 33,000 Long-term debt 170,000 Short-term debt 10,000 Total liabilities 230,000 Interest expense 15,000 Capital expenditures 16,000 Equity 46,000 Cash from operations Earnings before interest and taxes Compute the quick ratio for Joker Company. a. 0.727 b. 1.091 c. 0.394 d. 0.333 1,000 16,000 12. The following is selected financial information for Joker Company for 2017. Cash $ 13,000 Accounts receivable 11,000 Current asset 36,000 Current liabilities 33,000 Long-term debt 170,000 Short-term debt 10,000 Total liabilities 230,000 Interest expense 15,000 Capital expenditures 16,000 Equity 46,000 Cash from operations Earnings before interest and taxes 1,000 16,000 Compute the total debt to equity ratio for Joker Company. a. 3.913 b. 3.696 c. 0.739 d. 2.425 13. Assume the following is select financial information for Kohl’s Corporation for fiscal 2016 ($ millions). Current assets.................................... $4,775 Current liabilities................................. 2,590 Interest expense................................. 303 Total liabilities..................................... 7,586 Shareholders’ equity........................... 6,508 Earnings before interest and 2,158 taxes..... Compute the current ratio using Kohl’s reported financial information. a. 0.542 b. 1.844 c. 0.734 d. 0.949 17. The following is selected financial information for Mouse Company for 2017. Working capital $ (30) Retained earnings (500) Earnings before interest and tax 250 Market value of equity 100 Sales 3,000 Total assets 1,000 Total liabilities 1,500 Compute the Altman Z-score for Mouse Company. a. 2.35 b. 2.89 c. 3.10 d. 4.62
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