04 Mar Earth Friendly Structures, Inc., builds environmen
Earth Friendly Structures, Inc., builds environmentally sensitive structures. The company s 2016 revenues totaled $2,760 million. At December 31, 2016, and 2015, the company had. Respectively, $658 million and $603 million in current assets. The December 31. 2016. and 2015, balance sheets and income statements reported the following amounts: Requirements 1. Describe each of Earth Friendly Structures, Inc. s, liabilities and state how the liability arose. 2. What were the company s total assets at December 31, 2016? Evaluate the company s leverage and debt ratios at the end of 2015 and 2016. Use year-end figures in place of averages where needed for the purpose of calculating ratios in this exercise. Did the company improve, deteriorate, or remain about the same over the year? 3. Assume that beginning and ending inventories .for both periods did not differ by a material amount. Accounts payable at the end of 2014 was $176 million. Calculate accounts payable turnover as a ratio and days payable outstanding (DPO) for 2015 and 2016. Calculate current ratios for 2015 and 2016 as well. Evaluate whether the company improved or deteriorated from the standpoint of ability to cover accounts payable and current liabilities over the year.
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