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1. Inventory turnover ratio 2. Average days in inventory 3. Receivables turnover ratio times days times

1. Inventory turnover ratio 2. Average days in inventory 3. Receivables turnover ratio times days times

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Net sales Cost of goods sold Gross profit Operating expenses Interest expense Income tax expense Net income Assets Cash $ 8,700 (6,175) 2,525 (1,975) (150) (160) $ 240 Comparative Balance Sheets Accounts receivable Inventory Property, plant, and equipment (net) Bonds payable Common stock Retained earnings Liabilities and Shareholders' Equity Current liabilities 1. Inventory turnover ratio 2. Average days in inventory 3. Receivables turnover ratio December 31 4. Average collection period 5. Asset turnover ratio 6. Profit margin on sales 7. Return on assets 8. Return on equity 9. Equity multiplier 10. Return on equity (using the DuPont framework) 2024 $ 550 550 750 1,500 $ 3,350 $ 800 1,150 550 850 $ 3,350 times days times days Required: Calculate the following ratios for 2024. Note: Consider 365 days a year. Round your intermediate calculations and final answers to 2 decimal places. % % % 2023 times % $450 350 550 1,600 $ 2,950 $ 550 1,150 550 700 $ 2,950
Transcribed Image Text:Net sales Cost of goods sold Gross profit Operating expenses Interest expense Income tax expense Net income Assets Cash $ 8,700 (6,175) 2,525 (1,975) (150) (160) $ 240 Comparative Balance Sheets Accounts receivable Inventory Property, plant, and equipment (net) Bonds payable Common stock Retained earnings Liabilities and Shareholders' Equity Current liabilities 1. Inventory turnover ratio 2. Average days in inventory 3. Receivables turnover ratio December 31 4. Average collection period 5. Asset turnover ratio 6. Profit margin on sales 7. Return on assets 8. Return on equity 9. Equity multiplier 10. Return on equity (using the DuPont framework) 2024 $ 550 550 750 1,500 $ 3,350 $ 800 1,150 550 850 $ 3,350 times days times days Required: Calculate the following ratios for 2024. Note: Consider 365 days a year. Round your intermediate calculations and final answers to 2 decimal places. % % % 2023 times % $450 350 550 1,600 $ 2,950 $ 550 1,150 550 700 $ 2,950
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