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Sharp Uniforms designs and manufactures uniforms for corporations throughout the United States and Canada. The company's stock Is traded on the NASDAQ. Selected information from the company's financial statements follows. (assume that all sales were credit sales) Select Income Statement Information Net revenue Cost of goods sold Selling, general, and administrative expenses Interest expense Income tax expense SHARP (in millions) Net income Select Statement of Cash Flows Information Cash paid for interest Cash flows from operating activities Select Balance Sheet Information Cash and equivalents. Marketable securities Accounts receivable. Inventories Prepaid expense and other current assets Accounts payable Current accrued expenses Current portion of long-term debt Other current liabilities Long-term debt Receivable turnover ratio Inventory tumover ratio Current ratio Cash ratio Times interest earned ratio Cash coverage ratio Current Year $ 4,564 2,655 1,309 84 239 386 71 638 525 520 263 38 180 407 7 114 1,330 Prior Year $ 4,328 2,541 1,234 82 202 333 75 571 376 12 523 258 Required: Compute the following ratios for the current year: (Round your answers to 2 decimal places.). 31 127 366 20 91 1,313

Sharp Uniforms designs and manufactures uniforms for corporations throughout the United States and Canada. The company's stock Is traded on the NASDAQ. Selected information from the company's financial statements follows. (assume that all sales were credit sales) Select Income Statement Information Net revenue Cost of goods sold Selling, general, and administrative expenses Interest expense Income tax expense SHARP (in millions) Net income Select Statement of Cash Flows Information Cash paid for interest Cash flows from operating activities Select Balance Sheet Information Cash and equivalents. Marketable securities Accounts receivable. Inventories Prepaid expense and other current assets Accounts payable Current accrued expenses Current portion of long-term debt Other current liabilities Long-term debt Receivable turnover ratio Inventory tumover ratio Current ratio Cash ratio Times interest earned ratio Cash coverage ratio Current Year $ 4,564 2,655 1,309 84 239 386 71 638 525 520 263 38 180 407 7 114 1,330 Prior Year $ 4,328 2,541 1,234 82 202 333 75 571 376 12 523 258 Required: Compute the following ratios for the current year: (Round your answers to 2 decimal places.). 31 127 366 20 91 1,313

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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Sharp Uniforms designs and manufactures uniforms for corporations throughout the United States and Canada. The company's stock is traded on the NASDAQ. Selected information from the company's financial statements follows. (assume that all sales were credit sales) SHARP (in millions) Select Income Statement Information Net revenue Cost of goods sold Selling, general, and administrative expenses Interest expense Income tax expense Net income Select Statement of Cash Flows Information Cash paid for interest Cash flows from operating activities Select Balance Sheet Information Cash and equivalents. Marketable securities Accounts receivable Inventories Prepaid expense and other current assets Accounts payable Current accrued expenses Current portion of long-term debt Other current liabilities Long-term debt Receivable turnover ratio Inventory tumover ratio Current ratio Cash ratio Times interest earned ratio. Cash coverage ratio Current Year $4,564 2,655 1,309 84 239 386 71 638 525 520 263 38 180 407 7 114 1,330 Prior Year $ 4,328 2,541 1,234 82 202 333 75 571 376 12 523 258 31 127 366 20 91 1,313 Required: Compute the following ratios for the current year: (Round your answers to 2 decimal places.).
Transcribed Image Text:Sharp Uniforms designs and manufactures uniforms for corporations throughout the United States and Canada. The company's stock is traded on the NASDAQ. Selected information from the company's financial statements follows. (assume that all sales were credit sales) SHARP (in millions) Select Income Statement Information Net revenue Cost of goods sold Selling, general, and administrative expenses Interest expense Income tax expense Net income Select Statement of Cash Flows Information Cash paid for interest Cash flows from operating activities Select Balance Sheet Information Cash and equivalents. Marketable securities Accounts receivable Inventories Prepaid expense and other current assets Accounts payable Current accrued expenses Current portion of long-term debt Other current liabilities Long-term debt Receivable turnover ratio Inventory tumover ratio Current ratio Cash ratio Times interest earned ratio. Cash coverage ratio Current Year $4,564 2,655 1,309 84 239 386 71 638 525 520 263 38 180 407 7 114 1,330 Prior Year $ 4,328 2,541 1,234 82 202 333 75 571 376 12 523 258 31 127 366 20 91 1,313 Required: Compute the following ratios for the current year: (Round your answers to 2 decimal places.).
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