Cash Accounts receivable (net) Inventory Accounts payable Notes payable Common stock, $100 par Retained earnings Additional information: 1 2 3. 4. 5. December 31, 2022 $34,500 76,000 191,000 51,000 30,500 394,000 119,000 (b) Compute the following for Blossom Corporation. The inventory turnover is 3.70 times. The return on common stockholders' equity is 26%. The company had no addition The accounts receivable turnover is 7.60 times. The return on assets is 12.50%. Total assets at December 31, 2021, were $600,000. Cost of goods sold for 2022 December 31, 2021 $19,500 123,500 170,000 92,000 64,500 394,000 108,500 Net credit sales for 2022 667850 758100
Cash Accounts receivable (net) Inventory Accounts payable Notes payable Common stock, $100 par Retained earnings Additional information: 1 2 3. 4. 5. December 31, 2022 $34,500 76,000 191,000 51,000 30,500 394,000 119,000 (b) Compute the following for Blossom Corporation. The inventory turnover is 3.70 times. The return on common stockholders' equity is 26%. The company had no addition The accounts receivable turnover is 7.60 times. The return on assets is 12.50%. Total assets at December 31, 2021, were $600,000. Cost of goods sold for 2022 December 31, 2021 $19,500 123,500 170,000 92,000 64,500 394,000 108,500 Net credit sales for 2022 667850 758100
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Question
am. 11.
Transcribed Image Text:Cash
Accounts receivable (net)
Inventory
Accounts payable
Notes payable
Common stock, $100 par
Retained earnings
Additional information:
1
2
3
4.
5.
(a)
December 31, 2022
$34,500
76,000
191,000
51,000
30,500
394,000
119,000
Compute the following for Blossom Corporation.
(b)
The inventory turnover is 3.70 times.
The return on common stockholders' equity is 26%. The company had no additional capital accc
The accounts receivable turnover is 7.60 times.
The return on assets is 12.50%.
Total assets at December 31, 2021, were $600,000.
Cost of goods sold for 2022
Net credit sales for 2022
December 31, 2021
$19,500
123,500
170,000
92,000
64,500
394,000
108,500
$
667850
758100
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