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Long-term debt ratio Times interest earned Current ratio Quick ratio Cash ratio Inventory turnover Average collection period Net sales Cost of goods sold Selling, general, and administrative expenses Depreciation INCOME STATEMENT (Figures in 5 millions) Eamings before interest and taxes (EBIT) Interest expense Income before tax Tax (35% of income before tax) Net income 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.) Total current assets Assets Cash and marketable securities Accounts receivable Inventories Net property, plant, and equipment Total assets Liabilities and shareholders' equity Accounts payable Notes payable Total current liabilities 0.1 10.0 Long-term debt Shareholders' equity Total liabilities and shareholders' equity 1.6 1.0 0.4 4.0 BALANCE SHEET (Figures in $ millions) 73 days $ This Year $ $ $ 19.53 26.00 36.00 Last Year $ $ $ 20.00 $ 35.00 55.00 $ 270.00 $ 36 50 42 128 41 169 15 40 55 20 94 169

Long-term debt ratio Times interest earned Current ratio Quick ratio Cash ratio Inventory turnover Average collection period Net sales Cost of goods sold Selling, general, and administrative expenses Depreciation INCOME STATEMENT (Figures in 5 millions) Eamings before interest and taxes (EBIT) Interest expense Income before tax Tax (35% of income before tax) Net income 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.) Total current assets Assets Cash and marketable securities Accounts receivable Inventories Net property, plant, and equipment Total assets Liabilities and shareholders' equity Accounts payable Notes payable Total current liabilities 0.1 10.0 Long-term debt Shareholders' equity Total liabilities and shareholders' equity 1.6 1.0 0.4 4.0 BALANCE SHEET (Figures in $ millions) 73 days $ This Year $ $ $ 19.53 26.00 36.00 Last Year $ $ $ 20.00 $ 35.00 55.00 $ 270.00 $ 36 50 42 128 41 169 15 40 55 20 94 169

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 Net sales Cost of goods sold Selling, general, and administrative exp ses Depreciation Eamings before interest and taxes (EBIT) Interest expense Income before tax INCOME STATEMENT (Figures in $ millions) Tax (35% of income before tax) Net income 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.) 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 0.1 10.0 Shareholders' equity Total liabilities and shareholders' equity 1.6 1.0 0.4 4.0 BALANCE SHEET (Figures in $ millions) 73 days $ This Year $ $ $ 19.53 26.00 36.00 Last Year $ $ $ 20.00 $ 35.00 55.00 $ 270.00 $ 36 50 42 128 41 169 15 40 55 20 : 94 169
Transcribed Image Text:Long-term debt ratio Times interest earned Current ratio Quick ratio Cash ratio Inventory turnover Average collection period Net sales Cost of goods sold Selling, general, and administrative exp ses Depreciation Eamings before interest and taxes (EBIT) Interest expense Income before tax INCOME STATEMENT (Figures in $ millions) Tax (35% of income before tax) Net income 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.) 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 0.1 10.0 Shareholders' equity Total liabilities and shareholders' equity 1.6 1.0 0.4 4.0 BALANCE SHEET (Figures in $ millions) 73 days $ This Year $ $ $ 19.53 26.00 36.00 Last Year $ $ $ 20.00 $ 35.00 55.00 $ 270.00 $ 36 50 42 128 41 169 15 40 55 20 : 94 169
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