| 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 $
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Q4-Find the working capital and the current ratio.
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Q5-Find the working capital and the current ratio.
Q6-Find the working capital and the current ratio.
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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 | ||||||||||||||
| 11 | 13 | 17 | 13 | 15 | 9 | 14 | 11 | 13 | 15 | 11 | 10 | 14 | 12 | 15 |
| 19 | 15 | 13 | 17 | 9 | 20 | 13 | 14 | 18 | 16 | 15 | 14 | 17 | 18 | 13 |
- 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 | ||||||||||||||
| 11 | 9 | 12 | 7 | 8 | 10 | 12 | 8 | 9 | 10 | 9 | 7 | 11 | 12 | 8 |
| 7 | 9 | 11 | 8 | 6 | 12 | 10 | 8 | 8 | 7 | 9 | 6 | 10 | 9 | 11 |
- Find the new data’s mean, median, mode, and range.
- 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.
- Theoretically, how much will your improvements save the company in a 300-day production year?
- Congratulations! The company has awarded you a bonus of 15% of the first year’s savings. How much is your bonus check?
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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:
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 |