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CASE4: Sally Manufacturing company had sales totaling $40,000,000 in fiscal year 2020. Some ratios for the company are listed below. Use this information to determine the $ value of various income statement and balance sheet accounts as required.   Sally Manufacturing Company Year ended December 31, 2020 Gross profit margin 80% Operating profit margin 35% Net profit margin 8% Return on assets 16% Return on equity 20% Total asset turnover 2 Average collection period 62.2 days   Calculate values and discuss for the following: Gross profits Cost of goods sold Operating profits Earnings available for common stockholders Total assets Account receivable

CASE4: Sally Manufacturing company had sales totaling $40,000,000 in fiscal year 2020. Some ratios for the company are listed below. Use this information to determine the $ value of various income statement and balance sheet accounts as required.   Sally Manufacturing Company Year ended December 31, 2020 Gross profit margin 80% Operating profit margin 35% Net profit margin 8% Return on assets 16% Return on equity 20% Total asset turnover 2 Average collection period 62.2 days   Calculate values and discuss for the following: Gross profits Cost of goods sold Operating profits Earnings available for common stockholders Total assets Account receivable

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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CASE4: Sally Manufacturing company had sales totaling $40,000,000 in fiscal year 2020. Some ratios for the company are listed below. Use this information to determine the $ value of various income statement and balance sheet accounts as required.

 

Sally Manufacturing Company

Year ended December 31, 2020

Gross profit margin

80%

Operating profit margin

35%

Net profit margin

8%

Return on assets

16%

Return on equity

20%

Total asset turnover

2

Average collection period

62.2 days

 

Calculate values and discuss for the following:

  1. Gross profits
  2. Cost of goods sold
  3. Operating profits
  4. Earnings available for common stockholders
  5. Total assets
  6. Account receivable
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