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 56P: The following selected information is taken from the financial statements of Arnn Company for its...

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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.
Complete the balance sheet and sales information using the following financial data:Total assets turnover: 1.1×Days sales outstanding: 73.0 daysaInventory turnover ratio: 4×Fixed assets turnover: 2.5×Current ratio: 2.0×Gross profit margin on sales: (Sales - Cost of goods sold)/Sales = 20%aCalculation is based on a 365-day year. Do not round intermediate calculations. Round your answers to the nearest dollar. Balance Sheet Cash $ Current liabilities $ Accounts receivable Long-term debt 54,000 Inventories Common stock Fixed assets Retained earnings 108,000 Total assets $360,000 Total liabilities and equity $ Sales $ Cost of goods sold $
Complete the balance sheet and sales information using the following financial data: Total assets turnover: 1.1x Days sales outstanding: 73.0 daysa Inventory turnover ratio: 4.25x Fixed assets turnover: 3.0x Current ratio: 2.0x Gross profit margin on sales: (Sales Cost of goods sold)/Sales aCalculation is based on a 365-day year. = 15% Do not round intermediate calculations. Round your answers to the nearest dollar. Cash Accounts receivable Inventories Fixed assets Balance Sheet Current liabilities Long-term debt Common stock Retained earnings Total assets $300,000 Total liabilities and equity Sales $ Cost of goods sold $ EA $ A 75,000 75,000
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
Complete the balance sheet and sales information using the following financial data: Total assets turnover: 1x Days sales outstanding: 73.0 days² Inventory turnover ratio: 3.75x Fixed assets turnover: 3.0x Current ratio: 2.5x Gross profit margin on sales: (Sales - Cost of goods sold)/Sales = 35% *Calculation is based on a 365-day year. Do not round intermediate calculations. Round your answers to the nearest dollar. Balance Sheet Cash Accounts receivable Inventories Fixed assets Total assets Sales $ $ $360,000 Current liabilities Long-term debt Common stock Retained earnings Total liabilities and equity Cost of goods sold $ $ $ 90,000 90,000
Complete the balance sheet and sales information using the following financial data: Total assets turnover: 1.1x Days sales outstanding: 73.0 days* Inventory turnover ratio: 4x Fixed assets turnover: 3.0x Current ratio: 2.0x Gross profit margin on sales: (Sales Cost of goods sold)/Sales = 20% Calculation 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. $360,000 Current liabilities Long-term debt Common stock Retained earnings Total liabilities and equity Cost of goods sold $ $ 90,000 90,000
Cc. 207.
Complete the balance sheet and sales information using the following financial data Total assets turnover: 1.5 X Days sales outstanding: 36.5 days (Calculation is based on a 365-day year) Inventory turnover ratio: 5 X Fixed assets turnover: 3.0 X Current ratio: 2.0 X Gross profit margin on sales: (Sales - Cost of goods sold) ∕ Sales = 25% Cash ------------ Current Liabilities -------- Accounts Receivables ------------ Long Term Liabilities 60000 Inventories ------------ Common Stock -------- Fixed Assets ------------ Retained Earnings 97500 Total Assets 300000 Total Liabilities and Equity --------- Sales Cost of goods sold --------- Interpret the current ratio, total assets turnover ratio, inventory turnover ratio and profit margin on sales.
Complete the balance sheet and sales information using the following financial data: Total assets turnover: 1x Days sales outstanding: 36.5 days Inventory turnover ratio: 3.75x Fixed assets turnover: 3.0x Current ratio: 2.5x Gross profit margin on sales: (Sales - Cost of goods sold)/Sales = 35% *Calculation is based on a 365-day year. Do not round intermediate calculations. Round your answers to the nearest dollar. Balance Sheet Cash Accounts receivable Inventories Fixed assets Total assets Sales MA $240,000 Current liabilities. Long-term debt Common stock Retained earnings Total liabilities and equity Cost of goods sold $ 60,000 84,000
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BALANCE SHEET ANALYSIS Complete the balance sheet and sales information using the following financial data:Total assets turnover: 15×Days sales outstanding: 36.5 daysaInventory turnover ratio: 5×Fixed assets turnover: 3.0×Current ratio: 2.0×Gross profit margin on sales: (Sales − Cost of goods sold)/Sales = 25%aCalculation is based on a 365-day year
ces Given the following information, complete the balance sheet shown next. Collection period Days' sales in cash Current ratio Inventory turnover Liabilities to assets Payables period Assets Current assets: Cash Accounts receivable Inventory Total current assets Net fixed assets Total assets (All sales are on credit. All calculations assume a 365-day year. The payables period is based on cost of goods sold.) Note: Round your answers to the nearest whole dollar. Liabilities and shareholders' equity Current liabilities: 71 days 33 days 2.2 times Accounts payable Short-term debt Total current liabilities Long-term debt Shareholders' equity Total liabilities and equity 5 65% 35 days $ $ 1,300,000 2,000,000 7,000,000