Carla Vista Corporation's comparative balance sheet is presented below. Cash Accounts receivable Inventory Land Buildings Accumulated depreciation-buildings Total Accounts payable Common shares Retained earnings Total CARLA VISTA CORPORATION Balance Sheet December 31 a. b. C. d. Current ratio Acid-test ratio Receivables turnover 2024 Collection period $5,100 13,000 9,500 19,000 90,000 (14,000) $11,660 75,000 35,940 $122,600 2023 $3,200 2024 23,700 $122,600 $140,400 7,500 Carla Vista's 2024 income statement included net sales of $110,000, cost of goods sold of $60,000, and profit of $17,000. Calculate the following ratios for 2024. (Round Collection period and Days sales in inventory to 0 decimal places e.g. 52 and all other answ o 1 decimal place, e.g. 52.7 or 52.7%. Use 365 days for calculation.) 25,000 90,000 (9,000) $32,600 69,000 38,800 $140,400 times days
Carla Vista Corporation's comparative balance sheet is presented below. Cash Accounts receivable Inventory Land Buildings Accumulated depreciation-buildings Total Accounts payable Common shares Retained earnings Total CARLA VISTA CORPORATION Balance Sheet December 31 a. b. C. d. Current ratio Acid-test ratio Receivables turnover 2024 Collection period $5,100 13,000 9,500 19,000 90,000 (14,000) $11,660 75,000 35,940 $122,600 2023 $3,200 2024 23,700 $122,600 $140,400 7,500 Carla Vista's 2024 income statement included net sales of $110,000, cost of goods sold of $60,000, and profit of $17,000. Calculate the following ratios for 2024. (Round Collection period and Days sales in inventory to 0 decimal places e.g. 52 and all other answ o 1 decimal place, e.g. 52.7 or 52.7%. Use 365 days for calculation.) 25,000 90,000 (9,000) $32,600 69,000 38,800 $140,400 times days
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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
Transcribed Image Text:Carla Vista Corporation's comparative balance sheet is presented below.
Cash
Accounts receivable
Inventory
Land
Buildings
Accumulated depreciation-buildings
Total
Accounts payable
Common shares
Retained earnings
Total
a.
b.
C.
d.
e.
f.
CARLA VISTA CORPORATION
Balance Sheet
December 31
h.
i.
j.
k.
Current ratio
Acid-test ratio
Receivables turnover
Collection period
Inventory turnover
Days sales in inventory
Profit margin
Asset turnover
Return on assets
Return on equity
2024
Carla Vista's 2024 income statement included net sales of $110,000, cost of goods sold of $60,000, and profit of $17,000.
Calculate the following ratios for 2024. (Round Collection period and Days sales in inventory to O decimal places e.g. 52 and all other answers
to 1 decimal place, e.g. 52.7 or 52.7%. Use 365 days for calculation.)
Debt to total assets
$5,100
13,000
9,500
19,000
90,000
(14,000)
$122,600
$11,660
75,000
35,940
$122,600
2023
2024
$3,200
23,700
7,500
25,000
90,000
(9,000)
$140,400
$32,600
69,000
38,800
$140,400
times
days
times
days
%
times
%
%
%
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