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Balance Sheet Dec 31st Current Assets Northside Medical 2021 anu zuzz rinancial Statements Amounts in thousands of dollars Cash and cash equivalents Investments 330 360 Accounts receivable (net) 470 400 460 390 120 160 1,380 1,310 Inventory Prepaid expenses Total current assets Property, plant, and equipment Intangibles and other assets Total assets 2022 2021 Current liabilities 900 790 Long-term liabilities 410 380 Stockholder's equity - common 1,030 1,040 Total liabilities and stockholder's Blank 1 Add your answer 10 420 530 2,340 For an accessible version, see the Excel spreadsheet. Blank 2 Add your answer Blank 3 Add your answer 10 380 510 2,210 equity 2,340 2,210 Income Statement Dec 31st Sales Revenue Costs and expenses Cost of goods sold Selling and Administrative Total costs and expenses expenses 2,400 Interest expense 25 3,380 Income before income taxes 2022 2021 3,800 3,460 Income tax expense Net Income 955 890 2,330 20 3,240 Locate the formula in the textbook and calculate the 2022 Inventory Turnover Ratio (Efficiency). Fill in the numerator and denominator using the financial statements provided (no symbols or commas) and the answer should be in a XX.XX % format: Blank 1; + Blank 2: = Blank 3 % 420 126 294 154 220 66

Balance Sheet Dec 31st Current Assets Northside Medical 2021 anu zuzz rinancial Statements Amounts in thousands of dollars Cash and cash equivalents Investments 330 360 Accounts receivable (net) 470 400 460 390 120 160 1,380 1,310 Inventory Prepaid expenses Total current assets Property, plant, and equipment Intangibles and other assets Total assets 2022 2021 Current liabilities 900 790 Long-term liabilities 410 380 Stockholder's equity - common 1,030 1,040 Total liabilities and stockholder's Blank 1 Add your answer 10 420 530 2,340 For an accessible version, see the Excel spreadsheet. Blank 2 Add your answer Blank 3 Add your answer 10 380 510 2,210 equity 2,340 2,210 Income Statement Dec 31st Sales Revenue Costs and expenses Cost of goods sold Selling and Administrative Total costs and expenses expenses 2,400 Interest expense 25 3,380 Income before income taxes 2022 2021 3,800 3,460 Income tax expense Net Income 955 890 2,330 20 3,240 Locate the formula in the textbook and calculate the 2022 Inventory Turnover Ratio (Efficiency). Fill in the numerator and denominator using the financial statements provided (no symbols or commas) and the answer should be in a XX.XX % format: Blank 1; + Blank 2: = Blank 3 % 420 126 294 154 220 66

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
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Current Assets Balance Sheet Dec 31st Investments Northside Medical 2021 and 2022 rinancial Statements Amounts in thousands of dollars Cash and cash equivalents Accounts receivable (net) 330 470 Inventory 460 Prepaid expenses 120 Total current assets 1,380 Current liabilities Property, plant, and equipment Intangibles and other assets Total assets Long-term liabilities Stockholder's equity - common Total liabilities and stockholder's Blank 3 Blank 1 Add your answer 2022 Blank 2 Add your answer For an accessible version, see the Excel spreadsheet. 10 420 530 2,340 Add your answer 2021 360 400 390 160 1,310 10 380 510 2,210 900 790 410 380 1,030 1,040 equity 2,340 2,210 Income Statement Dec 31st Sales Revenue Costs and expenses Cost of goods sold Selling and Administrative expenses Interest expense Total costs and expenses Income before income taxes Income tax expense Net Income 2022 2021 3,800 3,460 955 890 2,400 25 3,380 Locate the formula in the textbook and calculate the 2022 Inventory Turnover Ratio (Efficiency). Fill in the numerator and denominator using the financial statements provided (no symbols or commas) and the answer should be in a XX.XX % format: Blank 1; + Blank 2; = Blank 3 % 420 126 294 2,330 20 3,240 220 66 154 O
Transcribed Image Text:Current Assets Balance Sheet Dec 31st Investments Northside Medical 2021 and 2022 rinancial Statements Amounts in thousands of dollars Cash and cash equivalents Accounts receivable (net) 330 470 Inventory 460 Prepaid expenses 120 Total current assets 1,380 Current liabilities Property, plant, and equipment Intangibles and other assets Total assets Long-term liabilities Stockholder's equity - common Total liabilities and stockholder's Blank 3 Blank 1 Add your answer 2022 Blank 2 Add your answer For an accessible version, see the Excel spreadsheet. 10 420 530 2,340 Add your answer 2021 360 400 390 160 1,310 10 380 510 2,210 900 790 410 380 1,030 1,040 equity 2,340 2,210 Income Statement Dec 31st Sales Revenue Costs and expenses Cost of goods sold Selling and Administrative expenses Interest expense Total costs and expenses Income before income taxes Income tax expense Net Income 2022 2021 3,800 3,460 955 890 2,400 25 3,380 Locate the formula in the textbook and calculate the 2022 Inventory Turnover Ratio (Efficiency). Fill in the numerator and denominator using the financial statements provided (no symbols or commas) and the answer should be in a XX.XX % format: Blank 1; + Blank 2; = Blank 3 % 420 126 294 2,330 20 3,240 220 66 154 O
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