Complete the balance sheet and sales information using the following financial data: Total assets turnover: 1.4x Days sales outstanding: 36.5 days³ Inventory turnover ratio: 4x Fixed assets turnover: 3.0x Current ratio: 2.5x Gross profit margin on sales: (Sales Cost of goods sold)/Sales = 35% aCalculation is based on a 365-day year. Do not round intermediate calculations. Round your answers to the nearest dollar. Cash $ Accounts receivable Inventories Fixed assets Total assets Sales Balance Sheet Current liabilities $ Long-term debt Common stock Retained earnings $300,000 Total liabilities and equity Cost of goods sold +A 75,000 105,000

Complete the balance sheet and sales information using the following financial data: Total assets turnover: 1.4x Days sales outstanding: 36.5 days³ Inventory turnover ratio: 4x Fixed assets turnover: 3.0x Current ratio: 2.5x Gross profit margin on sales: (Sales Cost of goods sold)/Sales = 35% aCalculation is based on a 365-day year. Do not round intermediate calculations. Round your answers to the nearest dollar. Cash $ Accounts receivable Inventories Fixed assets Total assets Sales Balance Sheet Current liabilities $ Long-term debt Common stock Retained earnings $300,000 Total liabilities and equity Cost of goods sold +A 75,000 105,000

Managerial Accounting: The Cornerstone of Business Decision-Making

7th Edition

ISBN:9781337115773

Author:Maryanne M. Mowen, Don R. Hansen, Dan L. Heitger

Publisher:Maryanne M. Mowen, Don R. Hansen, Dan L. Heitger

Chapter15: Financial Statement Analysis

Section: Chapter Questions

Problem 51E: Juroe Company provided the following income statement for last year: Juroes balance sheet as of...

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The following selected information is taken from the financial statements of Arnn Company for its most recent year of operations: During the year, Arnn had net sales of 2.45 million. The cost of goods sold was 1.3 million. Required: Note: Round all answers to two decimal places. 1. Compute the current ratio. 2. Compute the quick or acid-test ratio. 3. Compute the accounts receivable turnover ratio. 4. Compute the accounts receivable turnover in days. 5. Compute the inventory turnover ratio. 6. Compute the inventory turnover in days.
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Complete the balance sheet and sales information using the following financial data: Total assets turnover: 1.1x Days sales outstanding: 36.5 daysa Inventory turnover ratio: 4x Fixed assets turnover: 3.0x Current ratio: 2.5x Gross profit margin on sales: (Sales - Cost of goods sold)/Sales = 35% aCalculation is based on a 365-day year. Do not round intermediate calculations. Round your answers to the nearest dollar. Cash Accounts receivable Inventories Fixed assets Total assets Sales $ Balance Sheet $240,000 Current liabilities Long-term debt Common stock Retained earnings Total liabilities and equity Cost of goods sold $ 48,000 60,000
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An analyst has obtained the following information regarding ABC, Inc. Using this information, he needs to estimate the company's Accounts Payable. Sales = $93,398Cost of Goods Sold (COGS) = $36,052Cash Cycle = 22 daysOperating Cycle = 86 daysAccounts Receivable Period = AR Period = Average Collection Period (ACP) = 40 daysWhat is the company's Accounts Payable balance?
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Excel Online Structured Activity: Balance Sheet Analysis Consider the following financial data for J. White Industries: Total assets turnover: 1.2Gross profit margin on sales: (Sales - Cost of goods sold)/Sales = 27%Total liabilities-to-assets ratio: 45%Quick ratio: 0.90Days sales outstanding (based on 365-day year): 29.5 daysInventory turnover ratio: 4.0 The data has been collected in the Microsoft Excel Online file below. Open the spreadsheet and perform the required analysis to answer the questions below. Open spreadsheet Complete the balance sheet and sales information in the table that follows for J. White Industries. Do not round intermediate calculations. Round your answers to the nearest whole dollar. Partial Income StatementInformation Sales $ fill in the blank 2 Cost of goods sold $ fill in the blank 3 Balance Sheet Cash $ fill in the blank 4 Accounts payable $ fill in the blank 5 Accounts receivable $ fill in the blank 6 Long-term debt $…
Suppose the 2017 financial statements of 3M Company report net sales of $23.1 billion. Accounts receivable (net) are $3.40 billion at the beginning of the year and $3.54 billion at the end of the year. Compute 3M Company's receivable turnover. (Round answer to 1 decimal place, e.g. 12.5.) times Accounts receivable turnover ratio SHOW LIST OF ACCOUNTS LINK TO TEXT INTERACTIVE TUTORIAL Compute 3M Company's average collection period for accounts receivable in days. (Round answer to 1 decimal place, e.g. 12.5. Use 365 days for calculation.) Average collection period days
Comparative financial statements for Weller Corporation, a merchandising company, for the year ending December 31 appear below. The company did not issue any new common stock during the year. A total of 500,000 shares of common stock were outstanding. The interest rate on the bonds, which were sold at their face value, was 10%. The income tax rate was 40% and the dividend per share of common stock was $0.40 this year. The market value of the company's common stock at the end of the year was $30. All of the company's sales are on account. Weller Corporation Comparative Balance Sheet (dollars in thousands) This Year Last Year Assets Current assets: Cash Accounts receivable, net Inventory Prepaid expenses $ 1,090 9,200 12,500 740 $ 1,320 7,500 11,800 540 Total current assets 23,530 21,160 Property and equipment: Land 9,200 44,083 9,200 39,201 Buildings and equipment, net Total property and equipment 53,283 48,401 Total assets $76,813 $69,561 Liabilities and Stockholders' Equity Current…
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Construct the current assets section of the balance sheet from the following data. (Use cash as a plug figure after computing the other values.) (Use a 360-day year. Do not round intermediate calculations.) Yearly sales (credit) $ 570,000 Inventory turnover 10 times Current liabilities $ 97,000 Current ratio 2 Average collection period 36 days Current Assets:________ Cash:_________ Accounts Receivable_________ Inventory:__________ Total Current assets:_________-
Balance Sheet Analysis Complete the balance sheet and sales information in the table that follows for J. White Industries using the following financial data: Total assets turnover: 1.3Gross profit margin on sales: (Sales - Cost of goods sold)/Sales = 20%Total liabilities-to-assets ratio: 45%Quick ratio: 0.90Days' sales outstanding (based on 365-day year): 36.5 daysInventory turnover ratio: 3.50 Do not round intermediate calculations. Round your answers to the nearest whole dollar. Partial Income Statement Information Sales? Cost of goods sold? Balance Sheet