20212020201920182017SalesCost of goods soldAccounts receivable$ 479,191246,83723,289$ 315,257$ 247,260 $ 167,634$ 120,600162,48118,379129,15316,88887,4439,80761,5068,249Compute trend percents for the above accounts, using 2017 as the base year. For each of the three accosituation as revealed by the trend percents appears to be favorable or unfavorable.2021:2020:2019:2018:2017:Trend Percent for Net Sales:Numerator:1Denominator:11Is the trend percent for Net Sales favorable or unfavorable?2021:2020:2019:2018:2017:Trend Percent for Cost of Goods Sold:Numerator:Denominator:111Is the trend percent for Cost of Goods Sold favorable or unfavorable?2021:2020:2019:2018:2017:Trend Percent for Accounts Receivable:Numerator:Denominator:Is the trend percent for Accounts Receivable favorable or unfavorable?=Trend percent%9900=%=%=%%Trend percent%%%%%11Trend percent=%%%=%%

Reference: 12.2 Calculating Trend Percentages | Managerial Accounting. (n.d.).…

Answered: 2021 2020 2019 2018 2017 Sales Cost of…

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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You have been presented with the following selected information from the financial statements of one of Canada's largest dairy producers, Saputo Inc. (in $ millions): Statement of financial position 2021 2020 2019 Accounts receivable $1,217 $1,372 $1,248 Inventory 2,294 2,221 1,681 Total current assets 3,948 4,069 3,134 Total assets 13,123 13,793 9,886 Current liabilities 2,146 2,494 1,932 Total liabilities 6,679 7,234 4,465 Statement of income Sales $14,294 $14,944 $13,502 Cost of goods sold 9,575 10,181 9,179 Interest expense 79 96 67 Income tax expense 218 217 230 Net income 626 583 755
Compute the following ratios for 2022 and 2021. Inventory on December 31, 2020, was $330. Assets on December 31, 2020, were $1,910. Stockholders' equity-common on December 31, 2020, was $900. (Round current ratio and inventory turnover to 2 decimal place e.g. 15.25. Round other answers to 1 decimal place, e.g. 15.2 or 15.2%.) (a) (b) Inventory turnover (c) (d) (e) (f) Current ratio (g) Profit margin Return on assets Return on common stockholders' equity Debt to assets ratio Times interest earned 2022 1.67 2 7.73 :1 times % % % % times 2021 1.79 2 4.42 :1 times de % % % % times
Compute trend percents for the following accounts using 2020 as the base year. For each of the three accounts, state whether the situation as revealed by the trend percents appears to be favourable or unfavourable. Sales Cost of goods sold Accounts receivable Numerator: Numerator: 2024 $ 628,449 322,959 30,417 Numerator: 1 ( ( 2024: 2023: 2022: 2021: 2020: Is the trend percent for Net Sales favourable or unfavourable? Trend Percent for Net Sales: 2023 $ 408,084 209,773 23,750 } ( } 2022 2021 $ 334,495 $ 232, 288 173,642 22,846 Denominator: Trend Percent for Cost of Goods Sold: S Denominator: } } 1 1 1 2024: 2023: 2022: 2021: 2020: Is the trend percent for Cost of Goods Sold favourable or unfavourable? 1 Trend Percent for Accounts Receivable: Denominator: 1 2024: 1 2023: 1 2022: } 2021: 1 2020: 1 Is the trend percent for Accounts Receivable favourable or unfavourable? 119,917 13,589 || II II II = 11 "I = Trend percent = 111111 = = = 11 = = = 2020 $ 170,800 87,108 11,683 Trend percent…
Using these data from the comparative balance sheets of Blossom Company, perform vertical analysis. (Round percentages to 1 decimal place, e.g. 12.5%.) Dec. 31, 2022 Dec. 31, 2021 Amount Percentage Amount Percentage Accounts receivable (net) $424,551 enter Accounts receivable in percentages on Dec. 31, 2022 % $ 333,450 enter Accounts receivable in percentages on Dec. 31, 2022 % Inventory 707,585 enter Inventory in percentages on Dec. 31, 2022 % 589,950 enter Inventory in percentages on Dec. 31, 2022 % Total assets 3,011,000 enter Total assets in percentages on Dec. 31, 2022 % 2,565,000 enter Total assets in percentages on Dec. 31, 2022 %
Sales Cost of goods sold Accounts receivable 2021: 2020: 2018: 2018: 2021: 20:20: Compute trend percents for the above accounts, using 2017 as the bese year. For each of the three accounts, state whether the situation as revealed by the trend percents appears to be favorable or unfavorable. Numerator: 2021: 2020: 2018: 2018: 2821 $ 553,453 284, 861 26,808 Numerator: Numerator: T 2017: Is the trend parcent for Net Sales favorable or unfavorable? I Trend Perent for Net Bales: I } J 2828 J I 184,986 21,060 2018: 2018: 2017: Is the trend percent for Cost of Goods Sold favorable or unfavorable? Trend Percent for Cost of Goods Bold: Denominator: 2019 $ 295,790 154,003 20,232 T " I Denominator: Trend Perent for Accounts Receivable: Denominator: 2018 $ 283,903 185,586 11,893 2017: Is the trend percent for Accounts Receivable favorable or unfavorable? 11 11 "H |||||| 11 11 11 2817 $ 148,000 75,939 10,170 11 Trend percent Trend parcant Trend percent aan | 20
Compute trend percents for the following accounts using 2020 as the base year. For each of the three accounts, state whether the situation as revealed by the trend percents appears to be favourable or unfavourable. Sales Cost of goods sold Accounts receivable Numerator: 2024 $ 754,236 372,126 36,731 Numerator: 1 2023 $ 499,494 246,502 29,121 Trend Percent for Net Sales: 1 1 1 1 1 1 2024: 2023: 2022: 2021: 2020: Is the trend percent for Net Sales favourable or unfavourable? 2022 $394,857 196,780 27,127 Prev Denominator: Trend Percent for Cost of Goods Sold: 1 Denominator: 5 of 8 2021 $ 265,005 131,752 15,529 = Next > 2020 $ 196,300 96,187 13,407 Trend percent % % % % %
Use the following financial statement information from Black Water Industries. BLACK WATER INDUSTRIES Ending Accounts Receivable Year Net Credit Sales 2017 $690,430 $335,250 2018 705,290 364,450 2019 770,500 406,650 A. Compute the accounts receivable turnover ratios for 2018 and 2019. Round your answers to two decimal places. 2018 times 2019 times B. Using the accounts receivable turnover, choose the statement that most closely describes the company's management of its receivables. a. The company's lending policies may be too strict. b. Collection efforts are not aggressive enough. There may be uncollectable receivables affecting the beginning and ending C. balances. d. All of the above statements may be correct. a b d
Required: Compute the following ratios for 2020: 1. Current Ratio 2. Quick Ratio 3. Receivable Turnover 4. Average Collection Period 5. Inventory Turnover 6. Average Sales Period 7. Working Capital 8. Debt Ratio 9. Equity Ratio 10. Debt to Equity Ratio 11. Time Interest Earned 12. Gross Profit Ratio 13. Operating Profit Margin 14. Net Profit Margin 15. Return on Assets
Abhaliya
Suppose the 2022 financial statements of 3M Company report net sales of $23.1 billion. Accounts receivable (net) are $3.2 billion at the beginning of the year and $3.25 billion at the end of the year. Compute 3M’s accounts receivable turnover. - Accounts Recievable turnover ratio=? (times) Compute 3M’s average collection period for accounts receivable in days - Average collection period =? (days)
Exercise 13-3 (Algo) Computing and analyzing trend percents LO P1 Sales Cost of goods sold Accounts receivable 2021: 2020: Numerator: 2019: 2018: 2017: 2021 $ 599,194 302,147 28,941 Compute trend percents for the above accounts, using 2017 as the base year. For each of the three accounts, state whether the situation as revealed by the trend percents appears to be favorable or unfavorable. Numerator: 2021: 2020: 2019: 2018: 2017: Is the trend percent for Net Sales favorable or unfavorable? Trend Percent for Net Sales: 1 1 1 2028 $ 389,087 196,344 22,684 1 1 2019 $ 320,236 163,468 21,840 1 Trend Percent for Cost of Goods Sold; 1 Denominator: Denominator: 2018 $ 216,376 109,938 12,701 2017 $159,100 79,558 10,930 Trend percent Trend percent % % % % % % % % %
For Financial year 2021: Current ratio = Current assets / Current liabilities = 43.133 / 29.613 = 1.46 (2.d.p) Debt-to-equity = Total liabilities / Total equity = (29.613 + 25.382) / 47.069 = 1.17 (2.d.p) Return on total assets = Net profit / Average total assets = (-11.195) / 101.964 = -0.11 (2.d.p) Profit margin ratio = Net profit / Net sales = (-11.195) / 81.79 = -0.14 (2.d.p) Debt-to-asset = Total liabilities / Total assets = (29.613 + 25.382) / 101.964 = 0.54 (2.d.p) Cash flow on total assets = Net cash flow from operating activities / Average total assets = 4.717 / 101.964 = 0.05 (2.d.p) For Financial year 2022: Current ratio = Current assets / Current liabilities = 49.476 / 32.754 = 1.51 (2.d.p) Debt-to-equity = Total liabilities / Total equity = (32.754 + 27.625) / 46.732 = 1.29 (2.d.p) Return on total assets = Net profit / Average total assets = (-0.336) / 107.111 = -0.003 (3.d.p) Profit margin ratio = Net profit / Net sales = (-0.336) / 115.56 = -0.003 (3.d.p) Debt-to-asset…

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