Excerpts from Stealth Company's December 31, 2021 and 2020, financial statements are presented below: 2021 2020 Accounts receivable $ 45,000 $ 42,000 Inventory 18,000 43,000 Net sales 193,000 188,000 Cost of goods sold 121,000 114,000 Total assets 435,000 417,000 Total stockholders' equity 247,000 227,000 Net income 38,000 36,000 Stealth Company's 2021 inventory turnover is:
Excerpts from Stealth Company's December 31, 2021 and 2020, financial statements are presented below: 2021 2020 Accounts receivable $ 45,000 $ 42,000 Inventory 18,000 43,000 Net sales 193,000 188,000 Cost of goods sold 121,000 114,000 Total assets 435,000 417,000 Total stockholders' equity 247,000 227,000 Net income 38,000 36,000 Stealth Company's 2021 inventory turnover is:
Cornerstones of Financial Accounting
4th Edition
ISBN:9781337690881
Author:Jay Rich, Jeff Jones
Publisher:Jay Rich, Jeff Jones
Chapter9: Long-term Liabilities
Section: Chapter Questions
Problem 89E: Ratio Analysis Rising Stars Academy provided the following information on its 2019 balance sheet and...
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Excerpts from Stealth Company's December 31, 2021 and 2020, financial statements are presented below:
2021 | 2020 | ||||
$ | 45,000 | $ | 42,000 | ||
Inventory | 18,000 | 43,000 | |||
Net sales | 193,000 | 188,000 | |||
Cost of goods sold | 121,000 | 114,000 | |||
Total assets | 435,000 | 417,000 | |||
Total |
247,000 | 227,000 | |||
Net income | 38,000 | 36,000 | |||
Stealth Company's 2021 inventory turnover is:
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