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Canadian Bacon Inc. financial statements are presented in the table below.
Based on the information in the table,
caluclate the firm’s the net-working capital – to-sales ratio.
Round the answers to two decimal places in percentage form. (Write the percentage sign)
Balance Sheet December 31, 2011
Cash and marketable securities$143,000Accounts payable $278,000
Accounts receivable$354,000Notes payable$87,000
Prepaid expenses$12,500Total current liabilities$430,000
Total current assets$1,181,500Long-term debt$284,000
Gross fixed assets$1,675,000Par value and paid-in-capital$228,000
Less: accumulated depreciation$500,000Retained Earnings$1,414,500
Net fixed assets $1,175,000Common Equity1,642,500
Total assets$2,356,500Total liabilities and owner’s equity$2,356,500
Income Statement Year of 2011
Net sales (all credit)$3,136,600.00
Less: Cost of goods sold$2,195,620.00
Selling and administrative expenses$345,000.00
Earnings before taxes$404,680.00
Net income $242,808.00
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