Assume that Jasper Electronics completed these selected transactions during March 2014 : a . Sales of $ 2,100,000 are subject to estimated warranty cost of 2 %. The estimated warranty payable at the beginning of the year was $ 34,000 , and warranty payments for the year totaled $ 57,000 . b . On March 1 , Jasper Electronics signed a 45,000 note payable that requires annual payments of $ 9,000 plus 4 % interest on the unpaid balance each March 2 . c . Music For You , Inc ., a chain of music stores , ordered $ 135,000 worth of CD players . With its order , Music For You , Inc ., sent a check for $ 135,000 in advance , and Jasper shipped $ 80,000 of the goods . Jasper will ship the remainder of the goods on April 3 , 2014 . d . The March Payroll of $ 260,000 is subject to employee withheld income tax of 30,000 and FICA tax of 7.65 %. On March 31 , Jasper pays employees their takehome pay and accrues all tax amounts .
1 . Report these items on Jasper Electronics ' balance sheet at March 31 , 2014 .
E9-29A Companies that operate in different industries may have very different financial ratio values . These differences may grow even wider when we compare companies located in different countries . ( Click the icon to view the financial statements .) Requirement
1 Compare three leading companies on their current ratio , debt ratio , leverage ratio , and times-interest-earned ratio . Compute the ratios for Company BB , Company NN , and Company QQ . Based on your computed ratio values , which company looks the least risky ?