FIN321 - HW6

Luxury Goods Group, an Italian company that sells sunglasses, reported net sales of €6.3 billion in 2018 and €7.3 billion in 2017. Gross profit decreased from €4.2 billion in 2017 to €3.5 billion in 2018. 1. Calculate the gross profit percentage for each year. (Round your answers to 1 decimal place.) 2. The change in gross profit was caused by: Complete this question by entering your answers in the tabs below. Required 1 Required 2 Calculate the gross profit percentage for each year. (Round your answers to 1 decimal place.) Gross Profit 2018 2017 %

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1. Write the Ratio/ Equation to be used, IF REQUIRED 2. Substitute the given 3. Solution (Solve for the ask) 4. Label your answer and solution properly (Peso sign, write "days" "times or x", %) 4. Double rule your answer The Walker Department Store had net credit sales of P8,000,000 and cost of goods sold of P6,000,000 for the year. The average inventory for the year amounted to P2,000,000. The inventory turnover ratio for the year is

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Common-size financial statements. Prepare common-size income statements for Walmart and Starbucks using the January 2015 and September 2014 information in the popup window: Which company is doing a better job of getting sales dollars to net income? Where is the one company having an advantage over the other company in turning revenue into net income? Complete the table below. (Round to two decimal places. Net income to three decimal places.) Abbreviated Income Statements ($ in Millions) Company Account Walmart, Inc. 1/31/2015 Starbucks 9/30/2014 Sales 491,920 % 16,801 % Cost of goods sold $ -370,530 % 7,272 % Selling, general, and administrative expenses $ -94,693 % $ -11,569 % EBIT $ 26,697 % $ -2,040 % Interest expense S -2,343 % $ -26 % Taxes $ -9,011 % 764 % Net income $ 15,343 % -1,302 % Which company is doing a better job of getting sales dollars to net income? (Select from the drop-down menus.) Walmart and Starbucks bring and cents of sales revenue to the bottom line,…

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Required: (Round answers to one decimal place) 1. Calculate the accounts receivable turnover ratio 2. Calculate the average inventory ratio 3. Based on these ratios, does Nikkola appear to be performing well or poorly?

Questions: Does a low return on sales indicate a weak company? (Y/N). Explain your answer. Do greater Net sales always result in greater net income? (Y/N) Why? Examine the financial information above and comment on the item that you find interesting.

10. Review the select information for Bean Superstore and Legumes Plus (industry competitors), and then complete the following. A. Compute the accounts receivable turnover ratios for each company for 2018 and 2019. B. Compute the number of days' sales in receivables ratios for each company for 2018 and 2019. C. Determine which company is the better investment and why. Round answers to two decimal places. BEAN SUPERSTORE LEGUMES PLUS Comparative Balance Sheet December 31, 2017, 2018, and 2019 Comparative Balance Sheet December 31, 2017, 2018, and 2019 2019 2018 2017 2019 2018 2017 Assets Cash $345,600 67,000 145,830 100,465 $330,460 62,000 178,011 101,202 $300,000 59,000 155,205 103,085 $407,000 85,430 128,080 182,006 $386,450 82,670 40,036 23,400 $356,367 79,230 52,142 111,701 Accounts Receivable Inventory Equipment Total Assets $658,895 $671,673 $617,290 $802,516 $532,556 $599,440 Liabilities Salaries Payable Accounts Payable Notes Payable $ 91,455 $ 90,200 70,000 41,000 $ 88,563…

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What are the day to collect from customer?

Presented below is information for Ayayai Company for the month of March 2020. Cost of goods sold   $212,100   Rent expense   $30,100 Freight-out   6,010   Sales discounts   7,010 Insurance expense   5,100   Sales returns and allowances   12,010 Salaries and wages expense   55,100   Sales revenue   385,000 (a)     Prepare a multiple-step income statement. (Enter negative amounts using either a negative sign preceding the number e.g. -45 or parentheses e.g. (45).) AYAYAI COMPANYIncome StatementChoose the accounting period                                                                        Select an opening name for section one                                                                            Enter an income statement item   $Enter a dollar amount Select between addition and deduction                                                                       :        Enter an income statement item   $Enter a dollar amount…

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What are the days to collect from customer?

The question that says “if the accounts payable turnover is 5.7, what is the days’ payable outstanding? ( round your answer to the nearest day.)

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Presented below is information for Pharoah Company for the month of March 2020. Cost of goods sold   $217,820   Rent expense   $32,720 Freight-out   7,150   Sales discounts   8,080 Insurance expense   5,680   Sales returns and allowances   13,270 Salaries and wages expense   57,060   Sales revenue   386,560 Prepare a multiple-step income statement. (If there is a net loss then enter the amount using either a negative sign preceding the number e.g. -45 or parentheses e.g. (45).) Compute the gross profit rate. (Round answer to 2 decimal places, e.g. 25.20%.)