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Accounting
Accounts receivable (net) Inventory Total assets Current liabilities Long-term debt Net credit sales Cost of goods sold Interest expense Income tax expense Net income Net cash provided by operating activities $ 2021 175,000 130,000 1,100,000 140,000 410,000 900,000 600,000 40,000 60,000 120,000 250,000 2020 $ 200,000 170,000 800,000 110,000 300,000 700,000 530,000 25,000 29,000 85,000 135,000

Accounts receivable (net) Inventory Total assets Current liabilities Long-term debt Net credit sales Cost of goods sold Interest expense Income tax expense Net income Net cash provided by operating activities $ 2021 175,000 130,000 1,100,000 140,000 410,000 900,000 600,000 40,000 60,000 120,000 250,000 2020 $ 200,000 170,000 800,000 110,000 300,000 700,000 530,000 25,000 29,000 85,000 135,000

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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Accounts receivable (net) Inventory Total assets Current liabilities Long-term debt Net credit sales Cost of goods sold Interest expense Income tax expense Net income Net cash provided by operating activities 4 $ 2021 175,000 $ 200,000 130,000 1,100,000 140,000 410,000 900,000 600,000 40,000 60,000 120,000 2020 250,000 170,000 800,000 110,000 300,000 700,000 530,000 25,000 29,000 85,000 135,000
Transcribed Image Text:Accounts receivable (net) Inventory Total assets Current liabilities Long-term debt Net credit sales Cost of goods sold Interest expense Income tax expense Net income Net cash provided by operating activities 4 $ 2021 175,000 $ 200,000 130,000 1,100,000 140,000 410,000 900,000 600,000 40,000 60,000 120,000 2020 250,000 170,000 800,000 110,000 300,000 700,000 530,000 25,000 29,000 85,000 135,000
Answer the following questions relating to the year ended December 31, 2021. (Round answers to 1 decimal place, e.g. 5.2 or 15.2%) 1. 2. 3. 4. The inventory turnover for 2021 is The number of times interest earned in 2021 is The accounts receivable turnover for 2021 is The return on assets for 2021 is %. times. times. times.
Transcribed Image Text:Answer the following questions relating to the year ended December 31, 2021. (Round answers to 1 decimal place, e.g. 5.2 or 15.2%) 1. 2. 3. 4. The inventory turnover for 2021 is The number of times interest earned in 2021 is The accounts receivable turnover for 2021 is The return on assets for 2021 is %. times. times. times.
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