Problem 13-4A The following financial information is for Sheridan Company. SHERI

Question

Problem 13-4A The following financial information is for Sheridan Company. SHERIDAN COMPANY Balance Sheets December 31 2017 Assets Cash Debt investments (short-term) Accounts receivable Inventory Prepaid expenses Land Building and equipment (net) Total assets Liabilities and Stockholders' Equity Notes payable Accounts payable Accrued liabilities Bonds payable, due 2017 Common stock, $10 par Retained earning:s Total liabilities and stockholders' equity 2016 $ 71,00066,000 40,000 90,000 229,000 169,000 28,000 132,000132,000 259,000 184,000 $878,000 $709,000 55,000 103,000 29,000 $169,000 $102,000 53,000 41,000 251,000 170,000 200,000 200,000 152,000143,000 $878,000 $709,000 65,000 41,000

Explanation / Answer

a-1. Liquidity Ratios:

b. Profitability Ratios :

b.

2016 2017 % Change Current Ratio 2.01:1 1.77:1 (11.94%) Accounts Receivable Turnover 8.81 times 9.12 times 3.52 % Inventory Turnover 4.04 times 3.24 times (19.80 %)

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