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Hes Q1. Hill Roy Corporation, has asked the accounts department to determine whether the company's ability...


Hes Q1. Hill Roy Corporation, has asked the accounts department to determine whether the companys ability to pay its current
Hes Q1. Hill Roy Corporation, has asked the accounts department to determine whether the company's ability to pay its current liabilities and long-term debts improved or deteriorated during current year. To answer this question, compute the following ratios for current year and preceding year. a. Current ratio b. Quick (acid-test) ratio c. Debt ratio d. Times-interest-earned ratio e. Prepare a small report based on your analysis of the following financial statement data in a written report format. Current Year Preceding Year Balance Sheet: Cash Short-term investments Net receivables Inventory Prepaid expenses Total current assets Total current liabilities $ 17,000 11,000 64.000 77.000 16,000 $185.000 $111.000 $ 22,000 26,000 73.000 71,000 8,000 $200,000 $.91.000 Income Statement: Net credit sales Cost of goods sold $654,000 327,000
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Current ratio Cum send asset Carrent Irabilthy 185 000 1.6667% Current year 111 000 Preceding year a 200000 91000 2.198 % b)c) Debt rating a Total asset Total crability here, Current Asset & liability Total asset & Liability are same as current ratt

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