assignment 2 excel and microsoft due 01/03 – savvyessaywriters.net | Savvy Essay Writers
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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.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$700,000Net sales$696,000Gross profit$448,000What are the shop’s returns and allowances and cost of goods sold?Construct a statement of financial position (balance sheet) for the Humperdink family using the following information:cash$50Checking account$2,500student loan balance$6,000stocks and bonds$2,600savings account$5,850residence$110,000automobile$12,000savings account$5,800automobile loan balance$12,000401K retirement account$15,000furniture, clothing, jewelry$8,000credit card balance$4,000mortgage loan balance$99,000What 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$5,000cash in savings$10,350home market value$145,500first mortgage on house$25,000home equity loan limit$70,000home equity loan$10,000automobile market value$19,000automobile loan outstanding$15,000credit card debt$1,500Calculate 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?
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