Green Earth Homes, Inc., builds environmentally sensit
Question and Solution
Green Earth Homes, Inc., builds environmentally sensitive structures. The company's 2017 revenues totaled $2,785 milli
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Green Earth Homes, Inc., builds environmentally sensitive structures. The company's 2017 revenues totaled $2,785 million. At December 31, 2017 and 2016, the company had $643 million and $610 million in current assets, respectively. The December 31, 2017 and 2016 balance sheets and income statements reported the following amounts: Requirements 1. Describe each of Green Earth Homes, Inc.'s liabilities and state how the liability arose. 2. What were the company's total assets at December 31, 2017? Evaluate the company's leverage and debt ratios at the end of 2016 and 2017. Did the company improve, deteriorate, or remain about the same over the year? 3. Accounts payable at the end of 2015 was $195. Calculate accounts payable turnover as a ratio and days payable outstanding (DPO) for 2016 and 2017. Calculate current ratios for 2016 and 2017 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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