Seminole Corporation reported the following items at December 31, 2021, and 2020:(Click the icon to view the comparative financial information.)Read the requirements.Requirement 1. Compute the company's (a) quick (acid-test) ratio and (b) days' sales outstanding for 2021. Evaluate each ratiovalue as strong or weak. All sales are on account with terms of net 30 days.(a) Enter the formula and calculate the quick (acid-test) ratio for 2021. (Abbreviation used: Cash* = Cash and cash equivalents.Round your final answer to two decimal places.)Cash* + Short-term investments + Net current receivables + Total current liabilities = Quick (acid-test) ratio$Seminole's quick (acid-test) ratio is considered fairly weak.(b) Select the formula and calculate Seminole's days' sales outstanding for 2021. (Round interim calculations to two decimalplaces, XX.XX. Round the days' sales outstanding up to the next whole day.)Accounts receivable turnover =+Days' sales outstandingSeminole's days' sales outstanding is within acceptable range relative to credit terms of net 30 days.Requirement 2. Recommend two ways for Seminole to speed up its cash flow from receivables.Seminole could speed up cash flows from receivables by offering discounts for early paymentsor increasing penalties for late payments Data tableCurrent assets:CashMarketable securitiesAccounts receivable, netInventoryOther current assetsLong-term assetsTotal assetsIncome Statement(partial):Sales revenueBalance Sheets (Summarized)Year End2021$ 15,000 $23,00060,000196,0005,00020202021$938.000Current liabilities:11,00012,00074,000 Long-term liabilities192,0005,00010,000$299,000 $ 304,000Accounts payableOther current liabilitiesStockholders' equityYear End2021$ 18,000 $108,00020,000202019,500110,00021,000153,000 153,500Total liabilities and equity $299,000 $ 304,000X

Introduction:- Ratio analysis used identify the business performance of the company. It is used to…

Requirement 1. Compute the company's (a) quick (acid-test) ratio and (b) days' sales outstanding for 2021. Evaluate value as strong or weak. All sales are on account with terms of net 30 days. (a) Enter the formula and calculate the quick (acid-test) ratio for 2021. (Abbreviation used: Cash* = Cash and cash eq Round your final answer to two decimal places.) Cash*+Short-term investments + Net current receivables $ + Total current liabilities = + $ = Quick (acid-te

Requirement 1. Compute the company's (a) quick (acid-test) ratio and (b) days' sales outstanding for 2021. Evaluate value as strong or weak. All sales are on account with terms of net 30 days. (a) Enter the formula and calculate the quick (acid-test) ratio for 2021. (Abbreviation used: Cash* = Cash and cash eq Round your final answer to two decimal places.) Cash*+Short-term investments + Net current receivables $ + Total current liabilities = + $ = Quick (acid-te

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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Financial information for Powell Panther Corporation is shown here. a. What was net operating working capital for 2018 and 2019? Assume the firm has no excess cash.b. What was the 2019 free cash flow?c. How would you explain the large increase in 2019 dividends?
Please do it in excel. Thank you
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Your company ended 2018 with cash of $8M. Cash increased year-end 2019 by 20%. Sales in 2019 were $30M. What is the Cash Turnover Ratio for 2019? 4.2 3.4 4.3 3.8 please explain your answer and give rught choices
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Suppose Gulf Shipping Company had the following results related to cash flows for 2019: Net Income of $5,300,000 Adjustments from Operating Activities of -$500,000 Net Cash Flow from Investing Activities of -$700,000 Net Cash Flow from Financing Activities of $3,200,000 Create a statement of cash flows with amounts in thousands. What is the Net Cash Flow? Note: Financial results are provided in dollars but the income statement units are thousands of dollars. Please specify your answer in the same units as the statement of cash flows (i.e., enter the number from your completed statement of cash flows).
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