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Number of days' sales in receivables

Number of days' sales in receivables

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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Please Help! I am struggling so much with this chapter.

Instructions:

Determine the following measures for 20Y2, rounding to one decimal place including percentages, except for per-share amounts.

May I have help with the sub-parts below please and it is only calculating for the 20Y2?

5. Number of days' sales in receivables 

10. Times interest earned

11. Asset Turnover

Stargel Inc. Comparative Income Statement For the Years Ended December 31, 20Y2 and 20Y1 20Y1 20Y2 Sales $9,400,000 000'000'0LS 000'056'v Gross profit. Selling expenses pos spoob jo 150) 000'osE'S $4,450,000 $1,880,000 000'000'z $ $ 4,650,000 Administrative expenses Total operating expenses Income from operations 1,410,000 1,500,000 $ 3,500,000 $ 1,150,000 000'06Z'ES 000'091'1S 000'0v1 Other revenue 000'osL $1,300,000 $ 1,300,000 Other expense (interest) Income before income tax 000'0L $1,150,000 000'0s1 $ 1,130,000 Income tax expense 225,000 Net income 000'0EZ 000'006 S $ 925,000 Stargel Inc. Comparative Balance Sheet December 31, 20Y2 and 20Y1 20Y2 LAOZ Assets Current assets: Cash $ 500,000 Marketable securities. 000'00v $ 1,010,000 000'000'L Accounts receivable (net) 740,000 000'0LS Inventories... 1,190,000 000'0s6 Prepaid expenses 250,000 000'627 Total current assets. 000'069'ES 000'680'ES Long-term investments 2,350,000 000'00E'7 Property, plant, and equipment (net) Total assets 3,740,000 3,366,000 000'08L'6$ %248,755,000 Liabilities Current liabilities 000'006 $ 000'088 $ Long-term liabilities: Mortgage note payable, 10%. Bonds payable, 10% Total long-term liabilities Total liabilities 1,500,000 000'00s'L 000'002'LS 000'009 $2,380,000 000'00s'LS Stockholders' Equity Preferred $0.90 stock, $10 par. Common stock, $5 par. 000'00s $ $ 500,000 000'00s 000'08L'9 5,375,000 $6,375,000 Retained earnings. 000'00s Total stockholders' equity. Total liabilities and stockholders'equity. $7,180,000 $8,755,000 000'08L'6S
Transcribed Image Text:Stargel Inc. Comparative Income Statement For the Years Ended December 31, 20Y2 and 20Y1 20Y1 20Y2 Sales $9,400,000 000'000'0LS 000'056'v Gross profit. Selling expenses pos spoob jo 150) 000'osE'S $4,450,000 $1,880,000 000'000'z $ $ 4,650,000 Administrative expenses Total operating expenses Income from operations 1,410,000 1,500,000 $ 3,500,000 $ 1,150,000 000'06Z'ES 000'091'1S 000'0v1 Other revenue 000'osL $1,300,000 $ 1,300,000 Other expense (interest) Income before income tax 000'0L $1,150,000 000'0s1 $ 1,130,000 Income tax expense 225,000 Net income 000'0EZ 000'006 S $ 925,000 Stargel Inc. Comparative Balance Sheet December 31, 20Y2 and 20Y1 20Y2 LAOZ Assets Current assets: Cash $ 500,000 Marketable securities. 000'00v $ 1,010,000 000'000'L Accounts receivable (net) 740,000 000'0LS Inventories... 1,190,000 000'0s6 Prepaid expenses 250,000 000'627 Total current assets. 000'069'ES 000'680'ES Long-term investments 2,350,000 000'00E'7 Property, plant, and equipment (net) Total assets 3,740,000 3,366,000 000'08L'6$ %248,755,000 Liabilities Current liabilities 000'006 $ 000'088 $ Long-term liabilities: Mortgage note payable, 10%. Bonds payable, 10% Total long-term liabilities Total liabilities 1,500,000 000'00s'L 000'002'LS 000'009 $2,380,000 000'00s'LS Stockholders' Equity Preferred $0.90 stock, $10 par. Common stock, $5 par. 000'00s $ $ 500,000 000'00s 000'08L'9 5,375,000 $6,375,000 Retained earnings. 000'00s Total stockholders' equity. Total liabilities and stockholders'equity. $7,180,000 $8,755,000 000'08L'6S
för prepaid expenses, $200,000. जत 80 PR 17-4B Measures of liquidity, solvency and profitability The comparative financial statements of Stargel Inc. are as follows. The market price of Stargel common stock was $119.70 on December 31, 20Y2. OBJ. 3, 4, 5 Stargel Inc. Comparative Retained Earnings Statement For the Years Ended December 31, 20Y2 and 20Y1 20Y2 20Υ1 Retained earnings, January 1 $5,375,000 $4,545,000 Net income 900,000 925,000 Total 246,275,000 $5,470,000 Dividends: Preferred stock dividends 2$ 45,000 $ 45,000 Common stock dividends.. 50,000 50,000 Total dividends.. %24 95,000 $ 95,000 Retained earnings, December 31 $6,180,000 $5,375,000 dent
Transcribed Image Text:för prepaid expenses, $200,000. जत 80 PR 17-4B Measures of liquidity, solvency and profitability The comparative financial statements of Stargel Inc. are as follows. The market price of Stargel common stock was $119.70 on December 31, 20Y2. OBJ. 3, 4, 5 Stargel Inc. Comparative Retained Earnings Statement For the Years Ended December 31, 20Y2 and 20Y1 20Y2 20Υ1 Retained earnings, January 1 $5,375,000 $4,545,000 Net income 900,000 925,000 Total 246,275,000 $5,470,000 Dividends: Preferred stock dividends 2$ 45,000 $ 45,000 Common stock dividends.. 50,000 50,000 Total dividends.. %24 95,000 $ 95,000 Retained earnings, December 31 $6,180,000 $5,375,000 dent
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