Long-term debt ratioTimes interest earnedCurrent ratioQuick ratioCash ratioInventory turnoverAverage collection periodIncomeStatement0.310.0Jse the above information from the tables to work out the following missing entries, and then calculate the company's return onequity. Note: Inventory turnover, average collection period, and return on equity are calculated using start-of-year, not average, values.Balance Sheet1.61.00.33.0Complete this question by entering your answers in the tabs below.73 daysUse the above information from the tables to work out the following missing entries, and then calculate the company's returnon equity. Note: Inventory turnover, average collection period, and return on equity are calculated using start-of-year, notaverage, values.Note: Enter your answers in millions. Round intermediate calculations and final answers to 2 decimal places.Income before taxTax (35% of income before tax)Net incomeINCOME STATEMENT(Figures in $ millions)Net salesCost of goods soldSelling, general, and administrative expensesDepreciationEarnings before interest and taxes (EBIT)Interest expense18.0028.00< Income StatementBalance Sheet > IncomeStatementBalance SheetUse the above information from the tables to work out the following missing entries, and then calculate the company's returnon equity. Note: Inventory turnover, average collection period, and return on equity are calculated using start-of-year, notaverage, values.Note: Enter your answers in millions. Round intermediate calculations and final answers to 2 decimal places.BALANCE SHEET(Figures in $ millions)AssetsCash and marketable securitiesAccounts receivableInventoriesTotal current assetsNet property, plant, and equipmentTotal assetsLiabilities and shareholders' equityAccounts payableNotes payableTotal current liabilitiesLong-term debtShareholders' equityTotal liabilities and shareholders' equityThis Year$$Last Year$< Income Statement$$25.00 $35.00$200.00 $28.0042.0034.00104.0033.00137.0020.0040.0060.0028.0049.00137.00Balance Sheet >Show less A

Income statement is one of the financial statements that shows profitability, total revenue and…

Long-term debt ratio Times interest earned Current ratio Quick ratio Cash ratio Inventory turnover Average collection period 0.3 10.0 1.6 1.0 0.3 3.0 73 days Jse the above information from the tables to work out the following missing entries, and then calculate the company's return on equity. Note: Inventory turnover, average collection period, and return on equity are calculated using start-of-year, not average, values. Complete this question by entering your answers in the tabs below.

Long-term debt ratio Times interest earned Current ratio Quick ratio Cash ratio Inventory turnover Average collection period 0.3 10.0 1.6 1.0 0.3 3.0 73 days Jse the above information from the tables to work out the following missing entries, and then calculate the company's return on equity. Note: Inventory turnover, average collection period, and return on equity are calculated using start-of-year, not average, values. Complete this question by entering your answers in the tabs below.

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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Long-term debt ratio Times interest earned Current ratio 12 Quick ratio 1.0 Cash ratio 0.5 Inventory turnover 4.0 Average collection period 73 days Use the above information from the tables to work out the following missing entries, and then calculate the company's return on equity. Note: Turnover and the average collection period are calculated using start-of- year, not average, values. (Enter your answers in millions. Round intermediate calculations and final answers to 2 decimal places.) INCOME STATEMENT (Figures in 5 millions) Net sales Cost of goods sold Selling, general, and administrative expenses Depreciation 14.00 24.00 Earnings before interest and taxes (EBIT) Interest expense Income before tax Tax (35% of income before tax) Net income Assets Cash and marketable securities Accounts receivable Inventories Total current assets Net property, plant, and equipment Total assets Liabilities and shareholders' equity Accounts payable Notes payable Total current liabilities Long-term…
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