3. You are given the following summarized financial statements of TechInc. for the year 2020.Sales revenueCost of goods sold & various operating expensesDepreciationOperating incomeInterestIncome taxNet incomeTech Inc.Income Statement for 2020Current assets: CashTrade accounts receivableInventoryLong-term assets: At costTotal assetsLiabilities & EquityCurrent liabilitiesLong-term liabilitiesTotal liabilitiesTech Inc.Balance Sheet as at End of 2020$Accumulated depreciation$1,950,000300,000Equity: Common sharesRetained earningsTotal Liabilities & Equity$15,000150,000$ 900.000520.000$2,700,000$ 100.000500.0002,250,000$ 450,00010,000270.000540.000 $ 820,000150.000300.000380.000$1.200.000$ 540,00060.000$ 600.000600.000$1.200.000RequiredUsing financial ratio analysis, prepare a report on how well Tech Inc. isdoing in 2020.

Financial ratio analysis-It is a method of comparing the ratio between two or more items of…

3. You are given the following summarized financial statements of Tech Inc. for the year 2020. Sales revenue Cost of goods sold & various operating expenses Depreciation Operating income Interest Income tax Net income Tech Inc. Income Statement for 2020 Current assets: Cash Trade accounts receivable Tech Inc. Balance Sheet as at End of 2020 $ Inventory Long-term assets: At cost Total assets Liabilities & Equity Current liabilities Long-term liabilities Total liabilities Accumulated depreciation $1,950,000 300,000 Equity: Common shares Retained earnings Total Liabilities & Equity $ 15,000 150,000 $ 900.000 520.000 $2,700,000 $ 100,000 500,000 2,250,000 $ 450,000 10,000 270,000 540.000 $ 820.000 150,000 300.000 380.000 $1.200.000 $ 540,000 60,000 $ 600,000 600,000 $1.200.000 Required Using financial ratio analysis, prepare a report on how well Tech Inc. is doing in 2020.

3. You are given the following summarized financial statements of Tech Inc. for the year 2020. Sales revenue Cost of goods sold & various operating expenses Depreciation Operating income Interest Income tax Net income Tech Inc. Income Statement for 2020 Current assets: Cash Trade accounts receivable Tech Inc. Balance Sheet as at End of 2020 $ Inventory Long-term assets: At cost Total assets Liabilities & Equity Current liabilities Long-term liabilities Total liabilities Accumulated depreciation $1,950,000 300,000 Equity: Common shares Retained earnings Total Liabilities & Equity $ 15,000 150,000 $ 900.000 520.000 $2,700,000 $ 100,000 500,000 2,250,000 $ 450,000 10,000 270,000 540.000 $ 820.000 150,000 300.000 380.000 $1.200.000 $ 540,000 60,000 $ 600,000 600,000 $1.200.000 Required Using financial ratio analysis, prepare a report on how well Tech Inc. is doing in 2020.

Principles of Accounting Volume 1

19th Edition

ISBN:9781947172685

Author:OpenStax

Publisher:OpenStax

Chapter6: Merchandising Transactions

Section: Chapter Questions

Problem 15EA: The following select account data is taken from the records of Reese Industries for 2019. A. Use the...

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