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Question: crane ltd had the following comparative balance sheets crane ltd...
Question details
Crane Ltd. had the following comparative balance
sheets:
Crane
Ltd. Comparative Statement of Financial Position As at March 31 |
|||||||||
Assets | 2018 | 2017 | |||||||
Cash | $ | 15,100 | $ | 13,900 | |||||
Accounts receivable | 59,700 | 39,900 | |||||||
Inventories | 84,700 | 68,700 | |||||||
Prepaid expenses | 8,100 | 2,500 | |||||||
Property, plant, and equipment | 251,100 | 210,700 | |||||||
Accumulated depreciation | (60,300 | ) | (49,700 | ) | |||||
Total assets | $ | 358,400 | $ | 286,000 | |||||
Liabilities and Shareholders’ Equity | |||||||||
Accounts payable | $ | 36,700 | $ | 42,100 | |||||
Interest payable | 4,900 | 5,300 | |||||||
Income taxes payable | 22,900 | 13,700 | |||||||
Bonds payable | 89,100 | 65,900 | |||||||
Common shares | 95,500 | 78,500 | |||||||
Retained earnings | 109,300 | 80,500 | |||||||
Total liabilities and shareholders’ equity | $ | 358,400 | $ | 286,000 |
Calculate the current ratio and debt to total assets ratio as at
March 31, 2018 and March 31, 2017. (Round Current ratio
to 1 decimal place, e.g. 15.1 and Debt to total asset ratio to 2
decimal places, e.g. 15.75.)
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