26. Given the following financial data for Alpha Company, calculate the ratios listedbelow the data. (Compute all ratios and percents to 2 decimal points.)Sales (all oncredit)Cost of GoodsSold$650,000422,500Income before78,000Income TaxesNet Income54,600EndingBeginningBalancesBalancesCash$19,500$15,000Accounts Receivable65,00059,800(net)Merchandise71,50066,300InventoryPlant and Equipment(net)195,000183,900Total Assets$351,000 $325,000Current$74,100$100,200LiabilitiesLong-Term NotesPayable97,500100,000Stockholders'179,400124,800EquityTotal Liabilities and Stockholders'$351,000 $325,000Equity A. Current RatioB. Acid-Test RatioC. Accounts Receivable TurnoverD. Days' Sales UncollectedE. Inventory Turnover .F. Days' Sales in InventoryG. Debt Ratio (%).H. Gross Margin Ratio (%)I. Return on Total Assets (%)

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Answered: A. Current Ratio B. Acid-Test Ratio C.…

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Accounting

A. Current Ratio B. Acid-Test Ratio C. Accounts Receivable Turnover,

Intermediate Accounting: Reporting And Analysis

3rd Edition

ISBN:9781337788281

Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Chapter5: The Income Statement And The Statement Of Cash Flows

Section: Chapter Questions

Problem 2MC: The following information is available for Cooke Company for the current year: The gross margin is...

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