Use the Information That Follows Taken from Tyler Company's Financial

question 44

Essay

Use the information that follows taken from Tyler Company's financial statements for the years ending December 31, 2017 and 2016.
$\begin{array}{lc}\text { Balance Sheet Information }&2017&2016\\\text { Assets }\\ \text { Cash } & \$ 90&\$50 \\ \text { Accounts receivable } & 60&80 \\ \text { Inventory } & 40&80 \\\text { Land, building, and equipment } & \underline{230} & \underline{270}\\\text { Total Assets } & \underline{ \$ 420}& \underline{\$480} \\\end{array}$

$\begin{array}{lrr}\text { Liabilities and Shareholders' Equity }\\\text { Accounts payable } & \$ 5 & \$ 85 \\\text { Common stock } & 260 & 260 \\\text { Retained earnings } & \underline{155} & \underline{135 }\\\text { Total Liabilities \& Shareholders' Equity } & \$ \underline{420} & \$ \underline{480} \\\end{array}$

$\begin{array}{lrr}\text { Income Statement Information }\\ \text { Sale revenue } &\$850\\ \text { Cost of goods sold } & \underline{600}\\ \text {Gross profit } &\$250\\ \text { Operating expenses} & \underline{230}\\ \text {Net income } & \underline{\$20}\\\end{array}$



The industry in which Tyler is a member has an average debt/equity ratio of 0.98. Determine if, as measured by Tyler's debt/equity ratio on December 31, 2017, Tyler is taking full advantage of investing borrowed capital in its operations relative to that of the average firm in its industry.

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Definitions:

Federal Budget Deficit

The financial shortfall when the U.S. government's expenditures exceed its revenues within a fiscal year, leading to borrowing to cover the gap.

Measures

Measures refer to legislative bills or proposed laws that are brought forward for debate, amendment, and voting in legislative bodies.

Monetary Policy

The process by which a government, central bank, or monetary authority manages the supply of money and interest rates to achieve macroeconomic objectives.

Economic Policy

The strategies and actions taken by a government to manage the economy and influence economic conditions including taxation, government budgets, and interest rates.