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Business
Accounting
(in millions) Select Income Statement Information Set revenue Cost of goods sold Selling, general, and administrative expenses Interest expense Income tax expense Net income Select Statement of Cash Flows Information Cash paid for interest Cash flows from operating activities Select Balance Sheet Information Cash and equivalents Marketable securities Accounts receivable Inventories Prepaid expense and other current assets Accounts payable Current accrued expenses Current portion of long-term debt Other current liabilities Long-term debt Receivable turnover ratio Inventory turnover ratio Current ratio Cash ratio Times interest eamed ratio Cash coverage ratio Current Year $ 4,592 2,697 1,323 112 253 414 85 708 553 548 291 66 250 477 21 142 1,400 Prior Year $ 4,356 2,569 1,262 110 244 375 89 613 432 26 565 300 45 141 422 48 105 1,341 Required: Compute the following ratios for the current year: (Round your answers to 2 decimal places.)

(in millions) Select Income Statement Information Set revenue Cost of goods sold Selling, general, and administrative expenses Interest expense Income tax expense Net income Select Statement of Cash Flows Information Cash paid for interest Cash flows from operating activities Select Balance Sheet Information Cash and equivalents Marketable securities Accounts receivable Inventories Prepaid expense and other current assets Accounts payable Current accrued expenses Current portion of long-term debt Other current liabilities Long-term debt Receivable turnover ratio Inventory turnover ratio Current ratio Cash ratio Times interest eamed ratio Cash coverage ratio Current Year $ 4,592 2,697 1,323 112 253 414 85 708 553 548 291 66 250 477 21 142 1,400 Prior Year $ 4,356 2,569 1,262 110 244 375 89 613 432 26 565 300 45 141 422 48 105 1,341 Required: Compute the following ratios for the current year: (Round your answers to 2 decimal places.)

FINANCIAL ACCOUNTING
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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Manisha

Sharp Uniforms designs and manufactures uniforms for corporations throughout the United States and Canada. The company's stock is traded on the NASDAQ. Selected information from the company's financial statements follows. (assume that all sales were credit sales) Select Income Statement Information. Net revenue Cost of goods sold SHARP (in millions) Selling, general, and administrative expenses Interest expense Income tax expense Net income Select Statement of Cash Flows Information Cash paid for interest Cash flows from operating activities. Select Balance Sheet 'Information Cash and equivalents Marketable securities Accounts receivable Inventories Prepaid expense and other current assets Accounts payable Current accrued expenses Current portion of long-term debt. Other current liabilities. Long-term debt Receivable turnover ratio Inventory turnover ratio Current ratio Cash ratio Times interest earned ratio Cash coverage ratio Current Year $ 4,592 2,697 1,323 112 253 414 85 708 553 548 291 66 250 477 21 142 1,400 Prior Year $ 4,356 2,569 1,262 110 244 375 89 613 432 26 565 300 45 Required: Compute the following ratios for the current year: (Round your answers to 2 decimal places.) 141 422 48 105 1,341
Transcribed Image Text:Sharp Uniforms designs and manufactures uniforms for corporations throughout the United States and Canada. The company's stock is traded on the NASDAQ. Selected information from the company's financial statements follows. (assume that all sales were credit sales) Select Income Statement Information. Net revenue Cost of goods sold SHARP (in millions) Selling, general, and administrative expenses Interest expense Income tax expense Net income Select Statement of Cash Flows Information Cash paid for interest Cash flows from operating activities. Select Balance Sheet 'Information Cash and equivalents Marketable securities Accounts receivable Inventories Prepaid expense and other current assets Accounts payable Current accrued expenses Current portion of long-term debt. Other current liabilities. Long-term debt Receivable turnover ratio Inventory turnover ratio Current ratio Cash ratio Times interest earned ratio Cash coverage ratio Current Year $ 4,592 2,697 1,323 112 253 414 85 708 553 548 291 66 250 477 21 142 1,400 Prior Year $ 4,356 2,569 1,262 110 244 375 89 613 432 26 565 300 45 Required: Compute the following ratios for the current year: (Round your answers to 2 decimal places.) 141 422 48 105 1,341
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