In accounting, economic resources owned by a company are known as _______ , whereas

In accounting, economic resources owned by a company are known as _______ , whereas debts or obligations of a company are known as _______ . (15-1)

The financial statement that illustrates the financial position of a company in terms of assets, liabilities, and owners equity as of a certain date is known as a(n) _______ sheet. (15-1)

The balance sheet is a visual presentation of the all-important accounting equation. Write this equation. (15-1)

In vertical analysis of a balance sheet, each figure on the statement is expressed as a percent of _______ _______ . (15-2)

A financial statement prepared with the data from the current operating period side by side with the figures from one or more previous periods is known as a(n) _______ statement. (15-3, 15-6)

Horizontal analysis is a method of analyzing financial statements whereby each item of the current period is compared in _______ and _______ with the corresponding item from a previous period. (15-3, 15-6)

A financial statement summarizing the operations of a business over a period of time is known as an income statement, an operating statement, or a(n) _______ and _______ statement. (15-4)

Write the formula that illustrates the structure of an income statement. (15-4)

In vertical analysis of an income statement, each figure on the statement is expressed as a percent of _______ _______ . (15-5)

Name the four major categories of financial ratios. (15-7)

Write the formulas for the current ratio and inventory turnover. (15-7)

Write the formulas for the debt-to-assets ratio and return on investment. (15-7)

The use of index numbers to track percentage changes of a companys financial data over successive operating periods is known as _______ analysis. (15-8)

With index numbers, a base period is chosen and is equal to _______ percent. (15-8)

As the accounting manager of Spring Creek Plastics, Inc., you have been asked to calculate thefollowing financial ratios for the companys 2011 annual report. Use the balance sheet and the income statement on page 532 for Spring Creek.Inventory turnover:

As the accounting manager of Spring Creek Plastics, Inc., you have been asked to calculate thefollowing financial ratios for the companys 2011 annual report. Use the balance sheet and the income statement on page 532 for Spring Creek.Asset turnover ratio:

As the accounting manager of Spring Creek Plastics, Inc., you have been asked to calculate thefollowing financial ratios for the companys 2011 annual report. Use the balance sheet and the income statement on page 532 for Spring Creek.Debt-to-assets ratio:

As the accounting manager of Spring Creek Plastics, Inc., you have been asked to calculate thefollowing financial ratios for the companys 2011 annual report. Use the balance sheet and the income statement on page 532 for Spring Creek.Return on investment:

As the accounting manager of Spring Creek Plastics, Inc., you have been asked to calculate thefollowing financial ratios for the companys 2011 annual report. Use the balance sheet and the income statement on page 532 for Spring Creek.Prepare a trend analysis from the financial data listed below for Coastal Marine International.

As part of the trend analysis for Coastal Marine International, prepare a multiple-line chart for the annual report comparing net sales and net income for the years 2008 through 2011.

From the following consolidated statements of earnings for Netflix, Inc., prepare a vertical analysis in the form of a common-size income statement (percentages only) for 2009.

From the consolidated statements of income and balance sheets for Apple on the following page, prepare the following financial ratios for 2008 and 2009. a. Current ratio b. Acid test ratio c. Asset turnover ratio d. Debt-to-assets ratio e. Debt-to-equity ratio f. Net profit margin g. Return on investment h. Based on your calculations of the financial ratios for Apple, for each ratio, determine whether the 2009 figure was better or worse than the ratio for 2008. i. How would you rate Apples financial ratios in 2008 and 2009?