Given the Following Financial Data for Cliniva Corp,calculate the Ratios

question 133

Essay

Given the following financial data for Cliniva Corp,calculate the ratios listed below the data.
Cliniva Corp.
Partial Income statement
Far the year ended December 31, 2021
$\begin{array}{|l|r|}\hline \text { Sales (all on credit) } & \$ 650,000 \\\hline \text { Cost of goods sold } & 225,400 \\\hline \text { Income before taxes } & \$ 424,600 \\\hline \text { Income tax expense } & 186,000 \\\hline \text { Profit } & \$ 238,600\\\hline \end{array}$ Cliniva Corp.
Comparative Balance Sheet
December 31,
$\begin{array}{|l|r|r|}\hline & \mathbf{2 0 2 1} & \mathbf{2 0 2 0} \\\hline \text { Cash } & \$ 14,600 & \$ 18,000 \\\hline \text { Accounts Receivable (net) } & 56,000 & 58,000 \\\hline \text { Merchandise inventory } & 22,800 & 21,400 \\\hline \text { Property, plant and equipment (net) } & 185,000&145,000 \\\hline \text { Total Assets } & \$ 278,400&\$242,400 \\\hline \text { Current liabilities } & \$ 83,000 \\\hline \text { Long-term notes payable } & 89,000 \\\hline\end{array}$ (A)Current ratio.(B)Acid-test ratio.(C)Days' sales uncollected.(D)Merchandise turnover.

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Definitions:

Disability Insurance

A type of insurance coverage that provides income in the event a worker is unable to perform their job duties due to a disability.

Short-Term Plans

Strategies or objectives set to be achieved in the immediate future, typically within a year.

Long-Term Plans

Strategic plans developed to achieve goals and objectives over an extended period, typically beyond five years.

Flexible Spending Account

A pre-tax benefit account used by employees to pay for eligible healthcare expenses, reducing their taxable income.