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a. Inventory turnover ratio in 2023 b. Debt/equity ratio in 2023 c. Cash flow from operating activities in 2023

a. Inventory turnover ratio in 2023 b. Debt/equity ratio in 2023 c. Cash flow from operating activities in 2023

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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a. Inventory turnover ratio in 2023 b. Debt/equity ratio in 2023 c. Cash flow from operating activities in 2023 d. Average collection period e. Asset turnover ratio f. Interest coverage ratio g. Operating profit margin h. Return on equity j. Compound leverage ratio k. Net cash provided by operating activities days % %
Transcribed Image Text:a. Inventory turnover ratio in 2023 b. Debt/equity ratio in 2023 c. Cash flow from operating activities in 2023 d. Average collection period e. Asset turnover ratio f. Interest coverage ratio g. Operating profit margin h. Return on equity j. Compound leverage ratio k. Net cash provided by operating activities days % %
Required: Use the financial statements of Heifer Sports Incorporated to find the information below for Heifer. Note: Use 365 days a year. Do not round intermediate calculations. Round all answers to 2 decimal places except $ amounts and Round Average collection period to 1 decimal place. Income Statement Sales Cost of goods sold Depreciation Selling and administrative expenses EBIT Interest expense Taxable income Taxes Net income Balance Sheet, Year-End Assets Cash Accounts receivable. Inventory Total current asset Fixed assets Total assets Liabilities and shareholders' equity Accounts payable Short-term debt Total current liabilities Long-term bonds Total liabilities Common stock Retained earnings Total shareholders' equity Total liabilities and shareholders' equity 2023 $ 5,700,000 2,994,000 296,500 1,588,000 $ 821,500 160,000 $ 661,500 299,500 $362,000 2023 $ 44,200 610,000 452,900 $ 1,107,100 2,898,000 $ 4,005,100 $ 320,500 494,000 $814,500 1,960,000 $ 2,774,500 $ 311,000 919,600 $ 1,230,600 $ 4,005,100 2022 $ 75,000 1,299,500 903,900 $ 2,278,400 5,318,000 $ 7,596,400 $ 907,000 1,112,300 $ 2,019,300 4,448,500 $ 6,467,800 $ 311,000 817,600 $ 1,128,600 $ 7,596,400
Transcribed Image Text:Required: Use the financial statements of Heifer Sports Incorporated to find the information below for Heifer. Note: Use 365 days a year. Do not round intermediate calculations. Round all answers to 2 decimal places except $ amounts and Round Average collection period to 1 decimal place. Income Statement Sales Cost of goods sold Depreciation Selling and administrative expenses EBIT Interest expense Taxable income Taxes Net income Balance Sheet, Year-End Assets Cash Accounts receivable. Inventory Total current asset Fixed assets Total assets Liabilities and shareholders' equity Accounts payable Short-term debt Total current liabilities Long-term bonds Total liabilities Common stock Retained earnings Total shareholders' equity Total liabilities and shareholders' equity 2023 $ 5,700,000 2,994,000 296,500 1,588,000 $ 821,500 160,000 $ 661,500 299,500 $362,000 2023 $ 44,200 610,000 452,900 $ 1,107,100 2,898,000 $ 4,005,100 $ 320,500 494,000 $814,500 1,960,000 $ 2,774,500 $ 311,000 919,600 $ 1,230,600 $ 4,005,100 2022 $ 75,000 1,299,500 903,900 $ 2,278,400 5,318,000 $ 7,596,400 $ 907,000 1,112,300 $ 2,019,300 4,448,500 $ 6,467,800 $ 311,000 817,600 $ 1,128,600 $ 7,596,400
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