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Long-term debt ratio Times interest earned Current ratio Quick ratio Cash ratio Inventory turnover Average collection period 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. Income Statement Balance Sheet Complete this question by entering your answers in the tabs below. 0.4 8.0 1.4 1.0 0.2 5.0 Assets Cash and marketable securities Accounts receivable Inventories Total current assets 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. Net property, plant, and equipment Total assets Liabilities and shareholders' equity Accounts payable Notes payable Total current liabilities Answer is complete but not entirely correct. BALANCE SHEET (Figures in $ millions) Long-term debt Shareholders' equity Total liabilities and shareholders' equity S S This Year S 115.00 S 11.00 54.00 X 12.00 X 77.00 $ 38.00 S 25.00 30.00 55.00 24.00 36.00 S 115.00 $ 20.00 34.00 26.00 80.00 25.00 $ 105.00 Last Year S 20.00 35.00 S 55.00 20.00 30.00 $ 105.00 Show less

Long-term debt ratio Times interest earned Current ratio Quick ratio Cash ratio Inventory turnover Average collection period 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. Income Statement Balance Sheet Complete this question by entering your answers in the tabs below. 0.4 8.0 1.4 1.0 0.2 5.0 Assets Cash and marketable securities Accounts receivable Inventories Total current assets 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. Net property, plant, and equipment Total assets Liabilities and shareholders' equity Accounts payable Notes payable Total current liabilities Answer is complete but not entirely correct. BALANCE SHEET (Figures in $ millions) Long-term debt Shareholders' equity Total liabilities and shareholders' equity S S This Year S 115.00 S 11.00 54.00 X 12.00 X 77.00 $ 38.00 S 25.00 30.00 55.00 24.00 36.00 S 115.00 $ 20.00 34.00 26.00 80.00 25.00 $ 105.00 Last Year S 20.00 35.00 S 55.00 20.00 30.00 $ 105.00 Show less

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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Problem 4-22 Financial Ratios (LO3) Long-term debt ratio Times interest earned Current ratio Quick ratio Cash ratio Inventory turnover Average collection period Income Statement 0.4 8.0 1.4 1.0 0.2 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. Balance Sheet 5.0 73 days Complete this question by entering your answers in the tabs below. 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: 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 STATEMENT (Figures in $ millions) Answer is complete but not entirely correct. Net sales Cost of goods sold Selling, general, and administrative expenses Depreciation Earnings before interest and taxes (EBIT) Interest expense Income before tax S 170.00 130.00 10.00 20.00 10.00 1.25 8.75 3.06 5.69 $ $ $ < Income Statement Balance Sheet > Show less
Transcribed Image Text:Problem 4-22 Financial Ratios (LO3) Long-term debt ratio Times interest earned Current ratio Quick ratio Cash ratio Inventory turnover Average collection period Income Statement 0.4 8.0 1.4 1.0 0.2 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. Balance Sheet 5.0 73 days Complete this question by entering your answers in the tabs below. 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: 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 STATEMENT (Figures in $ millions) Answer is complete but not entirely correct. Net sales Cost of goods sold Selling, general, and administrative expenses Depreciation Earnings before interest and taxes (EBIT) Interest expense Income before tax S 170.00 130.00 10.00 20.00 10.00 1.25 8.75 3.06 5.69 $ $ $ < Income Statement Balance Sheet > Show less
Problem 4-22 Financial Ratios (LO3) Long-term debt ratio Times interest earned Current ratio Quick ratio Cash ratio Inventory turnover Average collection period Income Statement 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. Balance Sheet Complete this question by entering your answers in the tabs below. 0.4 8.0 1.4 Assets Cash and marketable securities Accounts receivable Inventories Total current assets 1.0 0.2 5.0 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. Net property, plant, and equipment Total assets Liabilities and shareholders' equity Accounts payable Notes payable Total current liabilities Answer is complete but not entirely correct. BALANCE SHEET (Figures in $ millions) Long-term debt Shareholders' equity Total liabilities and shareholders' equity S 11.00 S 20.00 54.00 34.00 12.00 X 26.00 77.00 S 80.00 38.00✔ 25.00 S 115.00 $ 105.00 S This Year S 25.00 $ 30.00 55.00 24.00 36.00 S 115.00 S Last Year 20.00 35.00 55.00 20.00 30.00 $ 105.00 S Show less
Transcribed Image Text:Problem 4-22 Financial Ratios (LO3) Long-term debt ratio Times interest earned Current ratio Quick ratio Cash ratio Inventory turnover Average collection period Income Statement 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. Balance Sheet Complete this question by entering your answers in the tabs below. 0.4 8.0 1.4 Assets Cash and marketable securities Accounts receivable Inventories Total current assets 1.0 0.2 5.0 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. Net property, plant, and equipment Total assets Liabilities and shareholders' equity Accounts payable Notes payable Total current liabilities Answer is complete but not entirely correct. BALANCE SHEET (Figures in $ millions) Long-term debt Shareholders' equity Total liabilities and shareholders' equity S 11.00 S 20.00 54.00 34.00 12.00 X 26.00 77.00 S 80.00 38.00✔ 25.00 S 115.00 $ 105.00 S This Year S 25.00 $ 30.00 55.00 24.00 36.00 S 115.00 S Last Year 20.00 35.00 55.00 20.00 30.00 $ 105.00 S Show less
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