Question: These summarized data were obtained from the accounting records of Hamberg Company at the end of its fiscal year, September 30:
|
|
2008
|
2007
|
|
Cash
|
$30,225
|
$27,240
|
|
Accounts receivable
|
149,375
|
128,160
|
|
Inventory
|
140,250
|
90,690
|
|
All other assets
|
435,900
|
333,580
|
|
Accounts payable
|
131,625
|
109,500
|
|
Bank note payable, due in 90 days
|
60,000
|
36,000
|
|
Note payable, due in 8 years
|
34,375
|
27,500
|
|
Sales
|
980,800
|
800,680
|
|
Cost of goods sold
|
827,500
|
651,780
|
|
Operating expenses
|
35,650
|
26,330
|
Calculate the following for 2008 given the data provided:
[A] Activity ratios.
[B] Liquidity and solvency ratios.