A firm has the following accounts and financial data for 2020: Note: the company does not have preferred stocks. Current Assets 90000 Quick ratio 1.3 Current liabilities 28000 Sales 1500000 Gross profit 850000 Long term debt 33000 Retained earnings2019 250000 Retained earnings2020 270000 Common stock equity 100000 Net profit margin 13% Find the following: Inventory Cost of goods sold
A firm has the following accounts and financial data for 2020: Note: the company does not have preferred stocks. Current Assets 90000 Quick ratio 1.3 Current liabilities 28000 Sales 1500000 Gross profit 850000 Long term debt 33000 Retained earnings2019 250000 Retained earnings2020 270000 Common stock equity 100000 Net profit margin 13% Find the following: Inventory Cost of goods sold
Chapter10: Inventory
Section: Chapter Questions
Problem 16PA: Use the following information relating to Clover Company to calculate the inventory turnover ratio,...
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![A firm has the following accounts and financial data
for 2020:
Note: the company does not have preferred
stocks.
Current Assets
90000
Quick ratio
1.3
Current liabilities
28000
Sales
1500000
Gross profit
850000
Long term debt
33000
Retained earnings2019
250000
Retained earnings2020
270000
Common stock equity
100000
Net profit margin
13%
Find the following:
Inventory
Cost of goods sold](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F8476635f-f84f-45b9-8375-9f47887cfc23%2F34d7fd7f-7b16-4d76-ad9f-0aa652c1725a%2Fl5qs0aq_processed.jpeg&w=3840&q=75)
Transcribed Image Text:A firm has the following accounts and financial data
for 2020:
Note: the company does not have preferred
stocks.
Current Assets
90000
Quick ratio
1.3
Current liabilities
28000
Sales
1500000
Gross profit
850000
Long term debt
33000
Retained earnings2019
250000
Retained earnings2020
270000
Common stock equity
100000
Net profit margin
13%
Find the following:
Inventory
Cost of goods sold
![Cost of goods sold
Inventory turnover
Total assets
Debt to equity ratio
Earnings available for common
stockholders
Dividend paid in 2020
ROA](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F8476635f-f84f-45b9-8375-9f47887cfc23%2F34d7fd7f-7b16-4d76-ad9f-0aa652c1725a%2Fqctfnmg_processed.jpeg&w=3840&q=75)
Transcribed Image Text:Cost of goods sold
Inventory turnover
Total assets
Debt to equity ratio
Earnings available for common
stockholders
Dividend paid in 2020
ROA
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