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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
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 Quick ratio Cash ratio Inventory turnover Average collection period Income Statement 0.3 10.0 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. Balance Sheet 1.6 1.0 0.3 3.0 Complete this question by entering your answers in the tabs below. 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: Inventory turnover, average collection period, and return on equity are calculated using start-of-year, not average, values. Note: Enter your answers in millions. Round intermediate calculations and final answers to 2 decimal places. Income before tax Tax (35% of income before tax) Net income INCOME STATEMENT (Figures in $ millions) Net sales Cost of goods sold Selling, general, and administrative expenses Depreciation Earnings before interest and taxes (EBIT) Interest expense 18.00 28.00 < Income Statement Balance Sheet >
Transcribed Image Text:Long-term debt ratio Times interest earned Current ratio Quick ratio Cash ratio Inventory turnover Average collection period Income Statement 0.3 10.0 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. Balance Sheet 1.6 1.0 0.3 3.0 Complete this question by entering your answers in the tabs below. 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: Inventory turnover, average collection period, and return on equity are calculated using start-of-year, not average, values. Note: Enter your answers in millions. Round intermediate calculations and final answers to 2 decimal places. Income before tax Tax (35% of income before tax) Net income INCOME STATEMENT (Figures in $ millions) Net sales Cost of goods sold Selling, general, and administrative expenses Depreciation Earnings before interest and taxes (EBIT) Interest expense 18.00 28.00 < Income Statement Balance Sheet >
Income Statement Balance Sheet Use 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. Note: Enter your answers in millions. Round intermediate calculations and final answers to 2 decimal places. BALANCE SHEET (Figures in $ millions) 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 debt Shareholders' equity Total liabilities and shareholders' equity This Year $ $ Last Year $ < Income Statement $ $ 25.00 $ 35.00 $ 200.00 $ 28.00 42.00 34.00 104.00 33.00 137.00 20.00 40.00 60.00 28.00 49.00 137.00 Balance Sheet > Show less A
Transcribed Image Text:Income Statement Balance Sheet Use 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. Note: Enter your answers in millions. Round intermediate calculations and final answers to 2 decimal places. BALANCE SHEET (Figures in $ millions) 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 debt Shareholders' equity Total liabilities and shareholders' equity This Year $ $ Last Year $ < Income Statement $ $ 25.00 $ 35.00 $ 200.00 $ 28.00 42.00 34.00 104.00 33.00 137.00 20.00 40.00 60.00 28.00 49.00 137.00 Balance Sheet > Show less A
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