Financial Statements

Written Assignment 2 Answer all of the following questions/problems and submit them to your mentor in a Word document. You should use a financial calculator and Excel to solve the problems. Remember: You must export your table(s) from Excel to Word before submitting your work. Consult the Course Calendar for due dates. Note: You will be able to use a financial calculator for your midterm exam, but Excel will not be available Discuss the importance of financial statements and how they are used by businesses. What is the basic format of the income statement and what is the relevance of the basic categories? Cash flows for an organization come from operating activities and investment activities. Discuss the importance of each to the organization. The Happy Auto Shop has the following annual information: Gross Sales $700,000 Net sales $696,000 Gross profit $448,000 What are the shop’s returns and allowances and cost of goods sold? Construct a statement of financial position (balance sheet) for the Humper dink family using the following information: cash $50 Checking account $2,500 student loan balance $6,000 stocks and bonds $2,600 savings account $5,850 residence $110,000 automobile $12,000 savings account $5,800 automobile loan balance $12,000 401K retirement account $15,000 furniture, clothing, jewelry $8,000 credit card balance $4,000 mortgage loan balance $99,000 What is the purpose of financial statement analysis? How do the three types of financial statement analysis differ from each other and when is each used? Samantha Knight is applying for a small-business loan. She provides the bank with the following information: cash in checking accounts $5,000 cash in savings $10,350 home market value $145,500 first mortgage on house $25,000 home equity loan limit $70,000 home equity loan $10,000 automobile market value $19,000 automobile loan outstanding $15,000 credit card debt $1,500 Calculate the debt-to-asset ratio. Calculate the debt-to-equity ratio. What percentage of Samantha’s assets is owned by others? Given the profit loss (income statement) and balance sheet for Sam’s Sandwich Delivery (Table 4-8, page 121 of your textbook), answer the following: Calculate the following ratios: current, quick, accounts receivable turnover, fixed asset turnover. Using the inventory figure on the balance sheet as average inventory, calculate the inventory turnover ratio. Calculate the debt-to-equity ratio, debt-to-total asset ratio, and operating profit margin ratio. Perform a vertical analysis of the income statement. Perform a vertical analysis of the balance sheet. Based on your analysis, would you consider investing in Sam’s Sandwich Delivery?

do my homework

Order NOW to get 15% Discount!

{{total || ""}}

Why Choose Us

Top Quality and Well-Researched Papers

Keeping in mind your instructions and guidelines, our writers ensure to do extensive research before beginning to write. Unique and quality paper is our top priority.

Professional and Experienced Academic Writers

Our team of writers and editors have many years of experience in academic writing. They are native English speakers and able to handle any academic task with ease.

Free Unlimited Revisions

We offer free unlimited revision to our clients. Whenever you feel the need to revise your work submit to our able editors. Our editors will ensure that your paper will be revised to meet your guidelines.

Prompt Delivery and 100% Money-Back-Guarantee

As a team we work hard to ensure a timely delivery of your papers. All you need to do is specify the time frame that you want you paper be submitted. We will work round the clock to beat the deadline.

Original & Confidential

We value your confidentiality and all our payment method are secure. We also use high end writing tools to ensure that all papers delivered are unique.

Customer Support 24/7

Our customer support team are available 24/7 to accept your orders and queries. We are committed to provide you with the best customer experience.

What Our Paper Writing Service Guarantees

You do not have to worry on what to expect because at we guarantee you;

High Quality Academic Papers

Our team of writers and editors is composed of people with diverse writing experiences. All of them have a Ph.D. They are all Ph.D. or M.A. graduates with extensive experience in academic and essay writing. We offer high-quality, original academic writing at an affordable cost.

Every order is written from scratch. We ensure that your papers conform to English conventions and the requirements of your discipline. To ensure originality, we also perform originality checks on all academic papers. Our success rate is 99% and many of our clients achieves their desired grades.

Zero-plagiarism policy

Mypaperwriterspro has a strict anti-plagiarism policy. To ensure that your paper is not flagged as plagiarism, we take extra precautions when writing it. Professional plagiarism detection software is used by our custom paper experts.

Privacy Policy

Mypaperwriterspro takes the privacy of clients' information very seriously. Mypaperwriterspro does not disclose any information about our transactions with third-party services. Nobody will ever know that you have hired our paper writing service to help with your paper.

Our website offers online security for our customers. Your passwords and personal information are protected and cannot be accessed by anyone else. Our customers are assured that their accounts will not be compromised by hackers. Learn more about the data that we store and how it is used in our privacy statement.

Free revision

When you order our paper service, you get unlimited free revisions and unlimited drafts. We will ensure that you submit flawless papers. Our paper help website allows you to request multiple revisions.

If the order form indicates that modifications or adjustments are required, only those should be made. These guidelines include, but are not limited to:

  • Revision instructions should not conflict with your original instructions.
  • You can request a modification before the purchase is approved. However, there is a 14-day grace period in which you can do this.
  • You should not extend your deadline by more than one day from the original deadline.
  • 24/7 Customer Support

    You can reach us by email, phone, and live chat. We are always interested in hearing from our customers. We welcome any feedback regarding our paper assistance service. Our customer service representatives are available 24/7, even on holidays and weekends. They can help you place orders, check the status of your order, answer questions, or simply provide information.

    Chat with your paper specialist via our live chat. Our professionals are available for unlimited chats. All your questions will be answered within minutes

    Money-back guarantee

    Do you still feel dissatisfied with your final paper? Don't worry. Mypaperwriterspro is committed to customer satisfaction.

    Although it is rare, you can request a partial or full refund if your final paper is not written to your satisfaction. Mypaperwriterspro views our money-back guarantee more as a right than a benefit.

    We believe that our clients deserve the best paper services available online. We offer a simple and straightforward refund process if you are not satisfied with the paper.