I need help with 5,7, and 12 please 5. Number of days in sales in receivables 7. number of days in sales in inventory 12. return on total asset i have tried working on them myself and nothing appears to be correct. Please help me on these last 3 questions for these questions i need the answer in dollar amounts as its asking for the current asset-current liabilities=calculated value i understand that number 5 is 365/16 but i need the dollar amount and number 7 is 365/6 i just need the dollar amount. Then 12 i need the dollar amount for number 5 i know its 6250000 i would assume its divided by 10000000 and get 22.8 days but my professor said it was wrong.
I need help with 5,7, and 12 please
5. Number of days in sales in receivables
7. number of days in sales in inventory
12. return on total asset
i have tried working on them myself and nothing appears to be correct. Please help me on these last 3 questions
for these questions i need the answer in dollar amounts as its asking for the current asset-current liabilities=calculated value
i understand that number 5 is 365/16 but i need the dollar amount and number 7 is 365/6 i just need the dollar amount. Then 12 i need the dollar amount
for number 5 i know its 6250000 i would assume its divided by 10000000 and get 22.8 days but my professor said it was wrong.
number 7 i tried 1070000/5350000 and got 73 days which is still wrong
number 12 i tried 1300000/9267500=14% and professor said wrong too
![Stargel Inc.
Comparative Retained Earnings Statement
For the Years Ended December 31, 20Y2 and 20Y1
20Y2
20Υ1
Retained earnings, January 1.
$5,375,000
$4,545,000
Net income.
900,000
$6,275,000
925,000
Total ....
$5,470,000
Dividends:
On preferred stock .
On common stock..
$ 45,000
$ 45,000
50,000
50,000
$ 95,000
$ 95,000
$6,180,000
Total dividends.
Retained earnings, December 31
$5,375,000](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F00e673a2-6809-46ca-902b-4179c99cad7f%2Fd2842274-6dfc-43dd-afb6-9cfb7c21b6d3%2Fh8v422q_processed.jpeg&w=3840&q=75)
![Stargel Inc.
Comparative Income Statement
For the Years Ended December 31, 20Y2 and 20Y1
20Y2
20Υ1
Sales ...
$10,000,000
$9,400,000
Cost of goods sold.
Gross profit .
Selling expenses
5,350,000
$ 4,650,000
$ 2,000,000
4,950,000
$4,450,000
$1,880,000
Administrative expenses.
1,500,000
$ 3,500,000
$ 1,150,000
1,410,000
$3,290,000
$1,160,000
Total operating expenses
Income from operations
Other income.
140,000
150,000
$ 1,300,000
170,000
$ 1,130,000
$1,300,000
Other expense (interest)
150,000
$1,150,000
Income before income tax
Income tax expense
230,000
225,000
Net income.
$ 900,000
$ 925,000
Stargel Inc.
Comparative Balance Sheet
December 31, 20Y2 and 20Y1
20Y2
20Y1
Assets
Current assets:
Cash
$ 500,000
$ 400,000
Marketable securities..
1,010,000
1,000,000
Accounts receivable (net).
740,000
510,000
Inventories
1,190,000
950,000
Prepaid expenses
250,000
229,000
Total current assets..
$3,690,000
$3,089,000
Long-term investments..
Property, plant, and equipment (net)
2,350,000
2,300,000
3,366,000
3,740,000
$9,780,000
Total assets ...
$8,755,000
Liabilities
Current liabilities..
$ 900,000
$ 880,000
Long-term liabilities:
Mortgage note payable, 10%.
Bonds payable, 10%...
$ 200,000
1,500,000
1,500,000
Total long-term liabilities
$1,700,000
$1,500,000
$2,380,000
Total liabilities .
$2,600,000
Stockholders' Equity
Preferred $0.90 stock, $10 par
$ 500,000
$ 500,000
Common stock, $5 par...
500,000
500,000
Retained earnings....
Total stockholders' equity..
Total liabilities and stockholders' equity..
6,180,000
$7,180,000
$9,780,000
5,375,000
$6,375,000
$8,755,000](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F00e673a2-6809-46ca-902b-4179c99cad7f%2Fd2842274-6dfc-43dd-afb6-9cfb7c21b6d3%2Fi7mimom_processed.jpeg&w=3840&q=75)
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