Polk Software Inc. has a quick ratio of 2.00x, $32,850 in cash, $18,250 in accounts receivable, some inventory, total current assets of $73,000, and total current liabilities of $25,550. The company reported annual sales of $100,000 in the most recent annual report. Over the past year, how often did Polk Software Inc. sell and replace its inventory? 4.57x O 4.97x O 5.23x O 3.69x

Polk Software Inc. has a quick ratio of 2.00x, $32,850 in cash, $18,250 in accounts receivable, some inventory, total current assets of $73,000, and total current liabilities of $25,550. The company reported annual sales of $100,000 in the most recent annual report. Over the past year, how often did Polk Software Inc. sell and replace its inventory? 4.57x O 4.97x O 5.23x O 3.69x

Essentials Of Investments

11th Edition

ISBN:9781260013924

Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.

Publisher:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.

Chapter1: Investments: Background And Issues

Section: Chapter Questions

Problem 1PS

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Average inventory=1,080,000 Debtors=690,000 Gross Profit ratio=10% Credit sales to total sales=20% Inventory turnover ratio=6 times 1 year is taken as 360 days. With the information given above, find the average collection period.
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You are trying to prepare financial statements for Bartlett Pickle Company, but seem to be missing its balance sheet. You have Bartlett's income statement, which shows sales last year were $300 million with a gross profit margin of 30 percent. You also know that credit sales equaled three-quarters of Bartlett's total revenues last year. In adlon, Bartlett had a collection period of 40 days, a payables period of 30 days, and an inventory turnover of 7 times based on cost of oods sold. Calculate Bartlett's year-ending balance for accounts receivable, inventory, and accounts payable. Note: Round your answers to 1 decimal place. Bartlett's year-ending balance (million) Accounts receivable Inventory Accounts payable BV3
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Berman & Jaccor Corporation's current sales and partial balance sheet are shown below. This year Sales $1,000 Balance Sheet: Assets Cash $150 Short-term investments $140 Accounts receivable $300 Inventories $300 Total current assets $890 Net fixed assets $600 Total assets $1,490 Sales are expected to grow by 12% next year. Assuming no change in operations from this year to next year, what are the projected total operating assets? Do not round intermediate calculations. Round your answer to the nearest dollar.
The grocery industry has an annual inventory turnover of about 13 times. Organic Grocers, Inc., had a cost of goods sold last year of $11,310,000; its average inventory was $993,980. What was Organic Grocers' inventory turnover, and how does that performance compare with that of the industry? a) What was Organic Grocers' inventory turnover? times per year (round your response to two decimal places).
Chastain Corporation is trying to determine the effect of its inventory turnover ratio and days sales outstanding (DSO) on its cash conversion cycle. Chastain's 2016 sales (all on credit) were $285000; its cost of goods sold is 80% of sales; and it earned a net profit of 6%, or $17100. It turned over its inventory 6 times during the year, and its DSO was 35 days. The firm had fixed assets totaling $37000. Chastain's payables deferral period is 40 days. Assume 365 days in year for your calculations. A. Calculate Chastain's cash conversion cycle. Round your answer to two decimal places. Do not round intermediate calculations. B.Assuming Chastain holds negligible amounts of cash and marketable securities, calculate its total assets turnover and ROA. Round your answers to two decimal places. Do not round intermediate calculations. C.Suppose Chastain's managers believe that the inventory turnover can be raised to 8.9 times. What would Chastain's cash conversion cycle, total assets…

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