Q1. Use the following financial information to calculate the..

Q1. Use the following financial information to calculate the owner’s Equity and to prepare a balance sheet with a vertical analysis as of December 31, 2021, for Sienna’s Health and Fitness, LLC., owned by Sienna.

Current assets, $132,500;

property, plant, and equipment, $88,760

investments and other assets, $32,400;

current liabilities, $51,150;

long-term liabilities, $87,490.

Balance Sheet

Sienna’s Health and Fitness

Balance Sheet – December 31, 2021

ASSETS                                                                                                                 % of Total Assets

Current Assets                            $

Plant Property & equipment     $

Investments & Other Assets     $

Total Assets                                $                                                                           100%

 

LIABILITIES

Current Liabilities                        $

Long-Term Liabilities                    $

Total Liabilities                             $

 

OWNERS EQUITY =                   $

Total Liabilities + Equity $                                                                       100%

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Q2.The following financial information is for Sienna’s Health and Fitness, LLC., as of December 31, 2021. Calculate the owner’s Equity for 2021 and prepare a comparative balance sheet with horizontal analysis for 2019 and 2021: current assets, $154,300; property, plant, and equipment, $124,650; investments and other assets, $20,000; current liabilities, $65,210; and long-term liabilities, $83,800.

 

Balance Sheet

Sienna’s Health and Fitness

Balance Sheet – December 31, 2021

 

                                                            2019                            2021             $Change         %Change

ASSETS

Current Assets                            $132,500                   $154,300

Plant Property & equipment     $88,760                      $124,650

Investments & Other Assets      $32,400                      $20,000            –

Total Assets

 

LIABILITIES

Current Liabilities                         $51,150                     $65,210

Long-Term Liabilities                    $87,490                     $83,000

Total Liabilities

 

OWNERS EQUITY =                    $115,020                 $150,740

Total Liabilities + Equity              $253,660                  $298,950

  

 

 

 

 

 

 

 

Q3-From the following third-quarter 2021 information for Sienna’s Health and Fitness. Construct an income statement with vertical analysis: gross sales, $224,400; sales returns and allowances, $14,300; beginning inventory, July 1, $165,000; ending inventory, September 30, $143,320; net purchases, $76,500; total operating expenses, $68,600; and income tax, $8,790.

 

Sienna’s Health and Fitness

Income Statement

3RD QUARTER

REVENUE                                                                                                            % of Revenue

Gross Sales                                       $224,400

Fewer Sales, returns & allowances    -$14,300

NET Sales                                         $                                                                      100%

 

COST OF GOODS SOLD                                                                                       % of COGS

Inventory July 1 $165,000

Net Purchases                                  $76,500

Goods available for sale                  $241,500

Less: Inventory September 30 $143,320

Cost of Goods Sold                      $

 

GROSS MARGIN                              $111,920

Operating Expenses                         $68,600

INCOME BEFORE TAXES                $

Income Taxes                                     $8,790

NET INCOME                                   $

 

RATIOS
Q4-Find the working capital and the current ratio.

CompanyCurrent AssetsCurrent LiabilitiesWorking CapitalCurrent Ratio
Sienna’s Health & Fitness$125,490$74,330  

 

 

 

 

 

Q5-Find the working capital and the current ratio.

CompanyCashMarketable SecuritiesAccounts ReceivableQuick AssetsAcid Test Ratio
Sienna’s Health & Fitness$12,320$30,000$53,600  

 

 

 

 

 

 

Q6-Find the working capital and the current ratio.

RATIOS
Q4-Find the working capital and the current ratio.

CompanyCurrent AssetsCurrent LiabilitiesWorking CapitalCurrent Ratio
Sienna’s Health & Fitness$125,490$74,330  

 

 

 

 

 

Q5-Find the Quick assets an acid test ratio

CompanyCashMarketable SecuritiesAccounts ReceivableQuick AssetsAcid Test Ratio
Sienna’s Health & Fitness$12,320$30,000$53,600  

 

 

 

 

 

 

Q6-Find the Owners equity and the two leverage ratios for the following

CompanyTotal AssetsTotal LiabilitiesOwner’s EquityDebt to Assets RatioDebt to Equity Ratio
Sienna’s Health & Fitness$232,430$115,329   
 

 

 

 

 

 

Q7-Find the Gross and net profits and the two profit margins for the following:

CompanyNet SalesCost of goods SoldGross ProfitOperating ExpensesNet ProfitGross Profit MarginNet Profit Margin
Sienna’s Health & Fitness324,100$174,690 $99,200   

 

Chapter 21 – Business Statistics

Q1.You have just been hired as the quality control manager for A1 Equipment Manufacturing, a company producing plated weights and dumbbells. The Top management has requested a status report on the number of defective units produced daily. You decide to keep track of the number of defects each day for 30 days. Following are the results of your survey.

A1 Equipment Manufacturing—Defects per day—Survey 1
1113171315  9141113151110141215
19151317  920131418161514171813
  1. Find the data’s mean, median, mode, and range for your report to top management.

 

 

 

 

 

 

 

After implementing your suggestions for improved quality on the production line, you decided to survey the defects for another 30 days with the following results:

A1 Equipment Manufacturing—Defects per day—Survey 2
1191278101289109711128
  791186121088  79610  911
  1. Find the new data’s mean, median, mode, and range.

 

 

 

 

 

 

  1. If the company’s cost to fix each defective unit is $75, use the mean of each survey to calculate the average cost per day for defects before and after your improvements.

 

 

 

 

  1. Theoretically, how much will your improvements save the company in a 300-day production year?

 

 

 

 

  1. Congratulations! The company has awarded you a bonus of 15% of the first year’s savings. How much is your bonus check?

 

 

 

 

Q2. You are the human resource director of Sienna’s health & Fitness LLC. Forty applicants for employment were given an assessment test in math and English with the following results:

87678183947284683356
91798895847546276997
69576681871976547891
78727589749245598572

A.    What are the range and mode of these scores

 

 

 

 

B.    Group the data into nine classes of equal size (11-20, 21-30, etc.) and construct a frequency distribution

 

 

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