Hi, can you please help with answering the highlighted questions, thanks. Financial statements for Askew Industries for 2021 are shown below (in thousands):2021 Income StatementNet salesCost of goods soldGross profitOperating expensesInterest expenseIncome tax expenseNet incomeAssetsCashBonds payableCommon stockRetained earnings$ 9,600(6,450)3,150(2,250)Comparative Balance SheetsAccounts receivableInventoryProperty, plant, and equipment (net)1. Inventory turnover ratio2. Average days in inventory3. Receivables turnover ratio(260)(256)Liabilities and Shareholders' EquityCurrent liabilities4. Average collection period5. Asset turnover ratio$ 3846. Profit margin on sales7. Return on assets$8. Return on equity9. Equity multiplier10. Return on equity (using the DuPont framework)Dec. 312021660 $6608602,600$4,780$1,4601,700660960$4,7802020Required:Calculate the following ratios for 2021. (Consider 365 days a year. Do not round intermediate calculations and round your finalanswers to 2 decimal places.)5604606602,700$4,380$1,2101,700660810$4,380daysdays%%%times%

Ratio Analysis - Ratio analysis is the study of several financial data points seen in a company's financial statements. They are mostly used by outside analysts to assess a company's profitability, liquidity, and solvency, among other factors.1. Inventory turnover ratio= cost of goods sold / average inventory Average inventory = ( beg inventory+ ending inventory)/2 = ($660+$860) /2 =$ 760 Inventory turnover ratio = $6450/$760 = 8.49 times 2.) Average days in inventory = 365 / Inventory turnover ratio =365 /8.49 = 42.99 days 3.) Receivables turnover ratio = Sales / Average accounts receivables Average accounts receivables = (Beginning accounts receivables + Ending receivables) / 2 =($460+$660)/2 =$560 Receivables turnover ratio =$9600/$560 =17.14 times 4.)Average collection period = 365 / Accounts receivable turnover ratio =365 /17.14 = 21.30 days 5.) Assets turnover ratio = Net Sales / Average total assets × 100 Average total assets = [Beginning assets + Ending assets] / 2 =($4380+$4780)/2 =$4580 Asset turnover ratio =$9600/$4580 ×100 = 2.10 times 6.) Profit margin on sales = Net income / net sales×100 =$ 384 / $9600 ×100 =4% 7) Return on Assets = Net Income / Avg Assets = 384 / 4580 = 8.38% 8) Average stockholder equity = (Beg. stockholder equity + Ending stockholder equity ) / 2 = (660 + 810) + (660 + 960) /2 = 1545 Return on Equity = Net Income / Avg total shareholder equity = 384 / 1545 = 24.84% 9) Equity on Multiplier= Total Assets / Total shareholder equity = 4780 / 1620 = 2.95 times 10) Return on equity = Profit margin x Asset Turnover x Equity holder = 4% x 2.10 x 2.95 = 24.78%

Business

Accounting

nancial statements for Askew Industries for 2021 are shown below (in thousands): 2021 Income Statement Net sales Cost of goods sold Gross profit Operating expenses Interest expense Income tax expense Net income $ 9,600 (6,450) 3,150 (2,250) $ (260) (256) 384 Comparative Balance Sheets Dec. 31

nancial statements for Askew Industries for 2021 are shown below (in thousands): 2021 Income Statement Net sales Cost of goods sold Gross profit Operating expenses Interest expense Income tax expense Net income $ 9,600 (6,450) 3,150 (2,250) $ (260) (256) 384 Comparative Balance Sheets Dec. 31

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

See similar textbooks

Similar questions

Why is it necessary to continue to maintain and improve an existing Web site?
I need help with questions 1 and 2
Please respond via a memo on your thoughts of the GAAP article bellow:
help please answer in text form with proper workings and explanation for each and every part and steps with concept and introduction no AI no copy paste remember answer must be in proper format with all working
Ma1 . Who benefits most from Peace of Mind®? Complex return filers. EITC filers. Clients with refunds. All clients.
Could someone answer the following two questions 4 and 5? Thank you
Would you please provide the answer for #4 as well? Thank you!
please help with the question that is attached as a picture. thanks
All blanks need to be filled please and thank you, it's incomplete as of now.
Can you please solve questions 5-15 of the problem above. Thank you.
Title 1. Complete a search of online resources for grieving individuals. Which ones might you find helpful Description 1. Complete a search of online resources for grieving individuals. Which ones might you find helpful in your work with clients? Which ones might be helpful for your clients? 2. What do you think should be the minimum level of education, training, and experience for individuals who assist bereaved individuals?
How would I calculate this problem? I just guessed on which answer made sense to me. Please help. thank you in advance.