1. Compute for the financial health ratios of the company for 2019 C.Financial Health/ (Solvency and Liquidity) Solvency ratio: a. Debt to equity ratio b. Debt Ratio c. Equity Ratio

1. Compute for the financial health ratios of the company for 2019 C.Financial Health/ (Solvency and Liquidity) Solvency ratio: a. Debt to equity ratio b. Debt Ratio c. Equity Ratio d. Interest Coverage Ratio Liquidity ratio: a. Current Ratio b. Quick Ratio Transcribed Image Text: Problem No. 1
Viance Queen Company
Statement of Financial Position
As of December 31
2019
2018
Cash
Accounts Receivable
Inventory
Prepald Rent
Delivery Van
Total Assets
110,000
90,000
129,000
12,000
550,000
891,000
87,400
69,920
218,500
4,370
493,810
874,000
Accounts Payable
Loan Payable
Viance Queen, Capital
Total Liabilities and Equity
75,000
400,000
416,000
891,000
67,298
393,300
413,402
874,000
Viance Queen Company
Statement of Comprehensive Income
For the Period Ended December 31
2019
2018
Sales
Cost of Goods Sold
Gross Profit
Operating Expenses
Interest Expense
Net Income
810,000
348,300
461,700
234,900
40,500
186,300
686,000
301,750
384,250
205,800
17,150
161,300