Exercise 4-26 (Static) Evaluating efficiency of asset management (LO4-10] The 2024 income statement of Anderson Medical Supply Company reported net sales of $8 milion, cost of goods sold of $4.8 milion, and net income of $800.000. The following table shows the company's comperative balance sheets for 2024 and 2023 Assets 2924 Cash Accounts receivable Inventory Property, plant, and equipment (net) Total assets Liabilities and shareholders' equity Current Liabilities Bonds payable Common stock Total Liables and starstelders ity Required: 1. Cacuate Anderson's turnover ratios for 2024 1.20 1,140 $ 4,300 Note: Use 365 days a year. Round your answers to 2 decimal places. Reserate times Average cole period days Asset turnover rate

Exercise 4-26 (Static) Evaluating efficiency of asset management (LO4-10] The 2024 income statement of Anderson Medical Supply Company reported net sales of $8 milion, cost of goods sold of $4.8 milion, and net income of $800.000. The following table shows the company's comperative balance sheets for 2024 and 2023 Assets 2924 Cash Accounts receivable Inventory Property, plant, and equipment (net) Total assets Liabilities and shareholders' equity Current Liabilities Bonds payable Common stock Total Liables and starstelders ity Required: 1. Cacuate Anderson's turnover ratios for 2024 1.20 1,140 $ 4,300 Note: Use 365 days a year. Round your answers to 2 decimal places. Reserate times Average cole period days Asset turnover rate

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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