Sales Depreciation expense $8,151.5 214.2 127.0 Land Buildings and fixtures 939.3 Machinery and equipment 2,294.3 Construction in progress 334.7 Gross property, plant, and equipment 3,695.3 Accumulated depreciation (1,684.5) $124.9 845.1 2,217.1 220.6 3,407.7 (1,588.3)
Sales Depreciation expense $8,151.5 214.2 127.0 Land Buildings and fixtures 939.3 Machinery and equipment 2,294.3 Construction in progress 334.7 Gross property, plant, and equipment 3,695.3 Accumulated depreciation (1,684.5) $124.9 845.1 2,217.1 220.6 3,407.7 (1,588.3)
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Question
Please do not give image format
Transcribed Image Text:Computing Asset Related Ratios
J.M. Smucker included the following information in its April 2019 10-K.
$ millions
Apr. 30, 2019 Apr. 30, 2018
$8,151.5
Sales
Depreciation expense
214.2
Land
$124.9
Buildings and fixtures
845.1
Machinery and equipment
2,217.1
Construction in progress
334.7
220.6
Gross property, plant, and equipment 3,695.3
3,407.7
Accumulated depreciation
(1,684.5)
(1,588.3)
Total property, plant, and equipment $2,010.8 $1,819.4
127.0
939.3
2,294.3
a. Compute PPE turnover for fiscal year ended April 30, 2019.
Round answer to one decimal place.
Answer
b. Compute the average useful life of depreciable assets at April 30, 2019.
Round answer to one decimal place.
Answer
years
c. Compute the percentage used up of the PPE at April 30, 2019.
Round answer to one decimal place (ex: 0.2345 = 23.5%)
*** PLEASE DO NOT USE SAME ANSWERS AS THIS QUESTION POSTED ELSEWHERE, THEY ARE ALL WRONG.
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