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
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Question
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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