Basic Financial Management Class Problem due by 12/10/13

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.)

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Set up an income statement that includes revenue, COGS, GM, EBIT, EBT, and EAT. Set up a balance sheet that includes Current assets, Fixed assets, Total assets, current liabilities, long-term debt, Equity (paid in capital*, and retained earnings), total equity, and total liabilities & equity.

*Paid-in capital = Common Stock + Paid-in Excess