The financial information below was taken from the annual financial statements of Cullumber Videos: 2014 2013 Current assets $99,800 $101,200 Current liabilities 36,800 51,200 Total liabilities 158,000 168,800 Total assets 441,000 476,000 Net sales 473,800 512,000 Net credit sales 466,000 500,000 Cost of goods sold 262,000 264,000 Inventory 46,000 44,800 Receivables (net) 26,800 24,800 Dividends 7,600 10,400 Capital expenditures 13,400 19,200 Net income 45,200 36,800 Net cash provided by operating activities 28,600 35,200 Calculate the following ratios for Cullumber Videos for 2014. (Round Free cash flow to 0 decimal place, e.g. 12. Other all answers to 2 decimal places, e.g. 12.21.) 1. Average collection period enter a number of days rounded to 2 decimal places days 2. Current ratio enter ratio rounded to 2 decimal places :1 3. Debt to assets ratio enter percentages rounded to 2 decimal places % 4. Return on assets enter percentages rounded to 2 decimal places % 5. Profit margin enter percentages rounded to 2 decimal places % 6. Asset turnover enter a number of times rounded to 2 decimal places times

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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The financial information below was taken from the annual financial statements of Cullumber Videos:

	2014	2013
Current assets	$99,800	$101,200
Current liabilities	36,800	51,200
Total liabilities	158,000	168,800
Total assets	441,000	476,000
Net sales	473,800	512,000
Net credit sales	466,000	500,000
Cost of goods sold	262,000	264,000
Inventory	46,000	44,800
Receivables (net)	26,800	24,800
Dividends	7,600	10,400
Capital expenditures	13,400	19,200
Net income	45,200	36,800
Net cash provided by operating activities	28,600	35,200

Calculate the following ratios for Cullumber Videos for 2014. (Round Free cash flow to 0 decimal place, e.g. 12. Other all answers to 2 decimal places, e.g. 12.21.)

1.	Average collection period	enter a number of days rounded to 2 decimal places	days
2.	Current ratio	enter ratio rounded to 2 decimal places	:1
3.	Debt to assets ratio	enter percentages rounded to 2 decimal places	%
4.	Return on assets	enter percentages rounded to 2 decimal places	%
5.	Profit margin	enter percentages rounded to 2 decimal places	%
6.	Asset turnover	enter a number of times rounded to 2 decimal places	times
7.	Inventory turnover	enter a number of times rounded to 2 decimal places	times
8.	Free cash flow	$enter a dollar amount rounded to 0 decimal places

8.
Return on assets		enter percentages rounded to 2 decimal places	%
5.	Profit margin		enter percentages rounded to 2 decimal places	%
6.	Asset turnover		enter a number of times rounded to 2 decimal places	times
7.	Inventory turnover		enter a number of times rounded to 2 decimal places	times

What is the return on assets? Profit Margin? Asset Turnover? Inventory Turnover? and the free cash flow?

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