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Armada Company Has These Comparative Balance Sheet Data: Additional

question 184

Essay

Armada Company has these comparative balance sheet data: Armada Company has these comparative balance sheet data:   Additional information for 2014: 1. Net income was $25,000. 2. Sales on account were $450,000. Sales returns and allowances amounted to $25,000. 3. Cost of goods sold was $275,000. 4. Net cash provided by operating activities was $49,000. 5. Capital expenditures were $23,000, and cash dividends were $18,000. Instructions Compute the following ratios at December 31, 2014.  Additional information for 2014:
1. Net income was $25,000.
2. Sales on account were $450,000. Sales returns and allowances amounted to $25,000.
3. Cost of goods sold was $275,000.
4. Net cash provided by operating activities was $49,000.
5. Capital expenditures were $23,000, and cash dividends were $18,000.
Instructions
Compute the following ratios at December 31, 2014. Armada Company has these comparative balance sheet data:   Additional information for 2014: 1. Net income was $25,000. 2. Sales on account were $450,000. Sales returns and allowances amounted to $25,000. 3. Cost of goods sold was $275,000. 4. Net cash provided by operating activities was $49,000. 5. Capital expenditures were $23,000, and cash dividends were $18,000. Instructions Compute the following ratios at December 31, 2014.


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