Question

FigMint Consulting and Sales Inc Post Closing Trial Balance December 31, 2022 198,600 75,580 4,690 56,500 58,596 57,890 260,526 698,950 19,356 356,500 45,600 Cash Accounts Receivable Allowance for Uncollectible Accounts Supplies Inventory Prepaid Insurance Land Building Accumulated Depr - Building Office Equipment Accumulated Depr - Office Equip Computer Equipment Accumulated Depr - Computer Accounts Payable Utilities Payable Wages Payable Short Term Note Payable Long term Note Payable Mortgage Payable Common Stock ($1 par, 1,000,000, shares authorized, 400,000 issued and outstanding) Retained Earnings 658,950 debt equity 32,560 56,560 16,850 89,850 485,965 387,590 305,984 400,000 577,087 2,422,092 $ 2,422,092

Answer 1

Figmint Consulting and sales OPTION 4 09 Current Ratio & Pr Current Assets Crennent liabilities 32,467,476 649, 225 3.80 , tori Ciennent Asseto ,261 Cash : 198,600 + 2125,600 - 100,000 $2,223,600 Accounts Receivable (75, 580-4690) - 700 70,890 Supplies tars on from 56,500 Inventory eseb 58,596 I Insurance Inditsissvigt at nabasa 57,890 Copol8 Total Connent Assets = 12,467, 476 Curt Caku Неу з очей, на 13 ) аса ) Accounts payable ang b = $56,560 Utilities Payable of LA = 116,850 wages payable : 89,850 Short term Note payable ona 485,165 Totay connent Liabinities - $649,225

Debt to Asset Ratio - Total Total Debt.. Assets 080 3,467, 799 - 4,344, 286 Total Debt Current liabilities & $649, 225 Long Tenn Note Payable $387,590 Mortgage Payable = 305,989 Long Term Bond = 2125, oro 222 ood Total Debt 001 - 3,467, 799 dizel door OS - Total Assets ARC. Cunnent Assets = 2,467, 476 ap??? Land - 2601526 opapa Building (Lass depreciation) - 679,594 ? ), Fйр оtiсе telepment 23.3 от 310 900 (Net depreciation) 626 390 nr.) O Compaten N Total Equipment en deprecinin Assets 02 4,344, 886 ) 2 Return on Equity Net Income resprog estudos Total Equity : 477,087 400,000 1:19 Net Income = 577,087 - 100,000 int. exp. ) =$ 487,087 Total Equity = 8400,000

Return on Assets of Net In come: A Total Assets to 5 477,087 4,344, 886 - 10.98% 22.12. ОРТТО А-2 Cost Received = $ 2,200,000 Annual Intenest = 120, oro tot € Cument Ratio = dira foto sto Cunnent Assets en Cannent liabilities O psa 4.26 21762,476 649, 225 Cunnent Assets - Cash = 118,600 + 2,200,000 -1 20,000 = $2,518,600 Other Cannent Assets E : 243,876 Total - 2,762,476 A Total Clinnent liabilities = $649; 225 tent

Debt to Asset Ratio et Bent Hot Total Debt no orola Total Assets van 130. FFUS 3,542799 - 0.76 A3 • VC 1,63,886 Total Debt Long Other Term Bond Debton DC Total 13.061 = t 2,200,000 3 42 799 3,5424 799 Total Assets sun trou osod tornis Crennent Assets = 2,762, 476 Non-Cennent Assets = 1,877, 410 SHOP CS4, 639,886 Return on Equity Net Income Total Equity in insansa wiele, ca onclangor s t 50A, 8 FME - 457,087 pluvy 400,000 Net Income a'577, 08.7 -120,000 -457,087 Total Equity = 400,00

Retrenn on ty Assets 2 - Net Income Total Assets ) a = 457, 087 = 9.857. 4,639,886 Net Total Income = 457,087 in un Assets - 4, 639,886 Option 3 Cast from issue of Shane 300 ono x17.500 2,250,00 paid = 300, no X $0.20 = $60,000 Dividend (i) Cunnent Ratio = Curnent Assets nauta Ceennent Habilities O CT. 2632476 Be - 238846o. 3668 4.05 0 02649,225 - Cash = 198, 600+ 2,250,000 - 60,000 = 2,388,600 Geennent tiabilities = q 649 225. othen Cunnent Assets = 243,876 Debt to Asset Ratio. 2, 632, 476. Total Asset Debts Told Balls Assets ara I ( x 10 Lunnent liabilities - $ 649, 225

(i) Total Debt un lennent liabilities Non-cannent " ser Total 29 = 649, 225 999, 55 648, 783 Total Assets = Cannent Assets = 2,6322176 von " 228. 1821, 877 410 rotor 4,509, 886 Debt to Asset 026 -- BOD Ratio wizi anant des 1,648,783 0. 37 4,509,886 binobia (1) Retinn on Egcity to Net Income = 577,087_ - $60100 = 517,087 Eperty - 400, me + 24 250, m = 2,650, 60 02) 225 00 517,087 -0.20 3,650, o o do 2.SPC ) Brits (iv) Retinn on Assets na ito Net It Gopro 45 517,087 4,509,886 11474