Homework Help is Here – Start Your Trial Now!
Business
Accounting
Required: Use the financial statements of Heifer Sports Incorporated to find the information below for Heifer. Note: Use 365 days a year. Do not round intermediate calculations. Round all answers to 2 decimal places except $ amounts and Round Average collection period to 1 decimal place. Income Statement Sales Cost of goods sold Depreciation Selling and administrative expenses EBIT Interest expense Taxable income Taxes Net income Balance Sheet, Year-End Assets Cash Accounts receivable Inventory Total current assets Fixed assets Total assets Liabilities and shareholders' equity Accounts payable Short-term debt Total current liabilities Long-term bonds Total liabilities Common stock Retained earnings Total shareholders' equity Total liabilities and shareholders' equity 2023 $ 5,640,000 2,943,000 290,300 1,555,000 $ 851,700 141,000 $ 710,700 318,300 $ 392,400 2023 $ 47,900 646,000 479,600 $ 1,173,500 3,049,000 $ 4,222,500 $ 335,200 493,000 $ 828,200 2,213,600 $ 3,041,800 $ 314,600 866,100 $ 1,180,700 $ 4,222,500 2022 $ 59,000 1,019,300 709,000 $ 1,787,300 4,152,000 $ 5,939,300 $ 687,000 840,500 $ 1,527,500 3,363,500 $ 4,891,000 $ 314,600 733,700 $ 1,048,300 $ 5,939,300 Answer is not complete. a. Inventory turnover ratio in 2023 4.95 b. Debt/equity ratio in 2023 2.58 c. Cash flow from operating activities in 2023 S 586,100 × d. Average collection period e. Asset turnover ratio f. Interest coverage ratio 53.9 days 1.11 6.04 g. Operating profit margin h. Return on equity 15.10 % 33.23% j. Compound leverage ratio k. Net cash provided by operating activities

Required: Use the financial statements of Heifer Sports Incorporated to find the information below for Heifer. Note: Use 365 days a year. Do not round intermediate calculations. Round all answers to 2 decimal places except $ amounts and Round Average collection period to 1 decimal place. Income Statement Sales Cost of goods sold Depreciation Selling and administrative expenses EBIT Interest expense Taxable income Taxes Net income Balance Sheet, Year-End Assets Cash Accounts receivable Inventory Total current assets Fixed assets Total assets Liabilities and shareholders' equity Accounts payable Short-term debt Total current liabilities Long-term bonds Total liabilities Common stock Retained earnings Total shareholders' equity Total liabilities and shareholders' equity 2023 $ 5,640,000 2,943,000 290,300 1,555,000 $ 851,700 141,000 $ 710,700 318,300 $ 392,400 2023 $ 47,900 646,000 479,600 $ 1,173,500 3,049,000 $ 4,222,500 $ 335,200 493,000 $ 828,200 2,213,600 $ 3,041,800 $ 314,600 866,100 $ 1,180,700 $ 4,222,500 2022 $ 59,000 1,019,300 709,000 $ 1,787,300 4,152,000 $ 5,939,300 $ 687,000 840,500 $ 1,527,500 3,363,500 $ 4,891,000 $ 314,600 733,700 $ 1,048,300 $ 5,939,300 Answer is not complete. a. Inventory turnover ratio in 2023 4.95 b. Debt/equity ratio in 2023 2.58 c. Cash flow from operating activities in 2023 S 586,100 × d. Average collection period e. Asset turnover ratio f. Interest coverage ratio 53.9 days 1.11 6.04 g. Operating profit margin h. Return on equity 15.10 % 33.23% j. Compound leverage ratio k. Net cash provided by operating activities

Principles of Accounting Volume 1
Principles of Accounting Volume 1
19th Edition
ISBN:9781947172685
Author:OpenStax
Publisher:OpenStax
Chapter6: Merchandising Transactions
Section: Chapter Questions
Problem 13PB: Following is the adjusted trial balance data for Garage Parts Unlimited as of December 31, 2019. A....
See similar textbooks
icon
Related questions
Question
Required: Use the financial statements of Heifer Sports Incorporated to find the information below for Heifer. Note: Use 365 days a year. Do not round intermediate calculations. Round all answers to 2 decimal places except $ amounts and Round Average collection period to 1 decimal place. Income Statement Sales Cost of goods sold Depreciation Selling and administrative expenses EBIT Interest expense Taxable income Taxes Net income Balance Sheet, Year-End Assets Cash Accounts receivable Inventory Total current assets Fixed assets Total assets Liabilities and shareholders' equity Accounts payable Short-term debt Total current liabilities Long-term bonds Total liabilities Common stock Retained earnings Total shareholders' equity Total liabilities and shareholders' equity 2023 $ 5,640,000 2,943,000 290,300 1,555,000 $ 851,700 141,000 $ 710,700 318,300 $ 392,400 2023 $ 47,900 646,000 479,600 $ 1,173,500 3,049,000 $ 4,222,500 $ 335,200 493,000 $ 828,200 2,213,600 $ 3,041,800 $ 314,600 866,100 $ 1,180,700 $ 4,222,500 2022 $ 59,000 1,019,300 709,000 $ 1,787,300 4,152,000 $ 5,939,300 $ 687,000 840,500 $ 1,527,500 3,363,500 $ 4,891,000 $ 314,600 733,700 $ 1,048,300 $ 5,939,300 Answer is not complete. a. Inventory turnover ratio in 2023 4.95 b. Debt/equity ratio in 2023 2.58 c. Cash flow from operating activities in 2023 S 586,100 × d. Average collection period e. Asset turnover ratio f. Interest coverage ratio 53.9 days 1.11 6.04 g. Operating profit margin h. Return on equity 15.10 % 33.23% j. Compound leverage ratio k. Net cash provided by operating activities
Transcribed Image Text:Required: Use the financial statements of Heifer Sports Incorporated to find the information below for Heifer. Note: Use 365 days a year. Do not round intermediate calculations. Round all answers to 2 decimal places except $ amounts and Round Average collection period to 1 decimal place. Income Statement Sales Cost of goods sold Depreciation Selling and administrative expenses EBIT Interest expense Taxable income Taxes Net income Balance Sheet, Year-End Assets Cash Accounts receivable Inventory Total current assets Fixed assets Total assets Liabilities and shareholders' equity Accounts payable Short-term debt Total current liabilities Long-term bonds Total liabilities Common stock Retained earnings Total shareholders' equity Total liabilities and shareholders' equity 2023 $ 5,640,000 2,943,000 290,300 1,555,000 $ 851,700 141,000 $ 710,700 318,300 $ 392,400 2023 $ 47,900 646,000 479,600 $ 1,173,500 3,049,000 $ 4,222,500 $ 335,200 493,000 $ 828,200 2,213,600 $ 3,041,800 $ 314,600 866,100 $ 1,180,700 $ 4,222,500 2022 $ 59,000 1,019,300 709,000 $ 1,787,300 4,152,000 $ 5,939,300 $ 687,000 840,500 $ 1,527,500 3,363,500 $ 4,891,000 $ 314,600 733,700 $ 1,048,300 $ 5,939,300 Answer is not complete. a. Inventory turnover ratio in 2023 4.95 b. Debt/equity ratio in 2023 2.58 c. Cash flow from operating activities in 2023 S 586,100 × d. Average collection period e. Asset turnover ratio f. Interest coverage ratio 53.9 days 1.11 6.04 g. Operating profit margin h. Return on equity 15.10 % 33.23% j. Compound leverage ratio k. Net cash provided by operating activities
Expert Solution
trending now

Trending now

This is a popular solution!

steps

Step by step

Solved in 2 steps

SEE SOLUTIONCheck out a sample Q&A here
Blurred answer
Similar questions
  • SEE MORE QUESTIONS
Recommended textbooks for you
Principles of Accounting Volume 1
Principles of Accounting Volume 1
Accounting
ISBN:
9781947172685
Author:
OpenStax
Publisher:
OpenStax College
Cornerstones of Financial Accounting
Cornerstones of Financial Accounting
Accounting
ISBN:
9781337690881
Author:
Jay Rich, Jeff Jones
Publisher:
Cengage Learning
Financial And Managerial Accounting
Financial And Managerial Accounting
Accounting
ISBN:
9781337902663
Author:
WARREN, Carl S.
Publisher:
Cengage Learning,
Century 21 Accounting General Journal
Century 21 Accounting General Journal
Accounting
ISBN:
9781337680059
Author:
Gilbertson
Publisher:
Cengage
SEE MORE TEXTBOOKS