Ethio Selam Company Consolidated Balance Sheet
For 2021, September 30
(ETB millions)
Assets
Cash and cash equivalents Br. 842,000,000
Receivables 3,599,000
Inventories 702,000,000
Film and television costs 1,162,000
Other 1,258,000
Total current costs 7,563,000
Film and television costs 5,339,000
Investments 2,270,000
Theme parks, resorts, and other property, at cost
Attractions, buildings, and equipment 16,160,000
Accumulated depreciation (6,892,000)
9,718,000
Project in process 1,995,000
Land 597,000,000
Intangibles assets, net 16,117,000
Other assets 1,428,000
Total assets 25,027,000
Liabilities and stockholders’ equity
Accounts payable and accrued liabilities 5,161,000
Current portion of borrowing 2,502,000
Unearned royalties 739,000,000
Total current liabilities 8,402,000
Borrowings 6,959,000
Deferred income taxes 2,833,000
Other long-term liabilities 2,377,000
Minority interest 356,000,000
Common shareholders’ equity
Common shares ($.01 par value) 12,101,000
Retained earnings 12,767,000
Cumulative translation and other adjustments (28,000)
Treasury shares (740,000) 24,100,000

Total liabilities and stockholders’ equity

45,0270000
• Net income, Br. 920,000,000
• Cost of goods sold, Br. 21,321,000
• Net sales, Br. 25,402,000
• Inventory on 2021 September 30, Br. 796,000,000
• Total interest expense for the year, Br. 598,000,000
Calculate the following ratios and show your computations. For calculations normally involving averages, such as average stockholders’ equity, use year-end amounts unless the necessary information is provided.
1. Current ratio.
2. Net income to average common stockholders’ equity.
3. Inventory turnover.
4. Number of days’ sales in accounts receivable (assume 365 days in 2021).
5. EPS of common stock (ignore treasury stock).
6. Times interest earned ratio.
7. Equity ratio.
8. Net income to net sales.
9. Total assets turnover.
10. Acid-test ratio.

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Required information problem 15-1a production costs computed and recorded; reports prepared lo c2, p1, p2, p3, p4 [the following information applies to the questions displayed below. marcelino co.'s march 31 inventory of raw materials is $84,000. raw materials purchases in april are $540,000, and factory payroll cost in april is $364,000. overhead costs incurred in april are: indirect materials, $59,000; indirect labor, $26,000; factory rent, $38,000; factory utilities, $19,000; and factory equipment depreciation, $58,000. the predetermined overhead rate is 50% of direct labor cost. job 306 is sold for $670,000 cash in april. costs of the three jobs worked on in april follow. job 306 job 307 job 308 balances on march 31 direct materials $30,000 $36,000 direct labor 25,000 14,000 applied overhead 12,500 7,000 costs during april direct materials 133,000 210,000 $100,000 direct labor 105,000 150,000 101,000 applied overhead ? ? ? status on april 30 finished (sold) finished in process (unsold) required: 1. determine the total of each production cost incurred for april (direct labor, direct materials, and applied overhead), and the total cost assigned to each job (including the balances from march 31). a-materials purchases (on credit). b-direct materials used in production. c-direct labor paid and assigned to work in process inventory. d-indirect labor paid and assigned to factory overhead. e-overhead costs applied to work in process inventory. f-actual overhead costs incurred, including indirect materials. (factory rent and utilities are paid in cash.) g-transfer of jobs 306 and 307 to finished goods inventory. h-cost of goods sold for job 306. i-revenue from the sale of job 306. j-assignment of any underapplied or overapplied overhead to the cost of goods sold account. (the amount is not material.) 2. prepare journal entries for the month of april to record the above transactions. 3. prepare a schedule of cost of goods manufactured. 4.1 compute gross profit for april. 4.2 show how to present the inventories on the april 30 balance sheet.