The net income reported on the income statement for the current year was $255000. Depreciatio was $39600. Account receivable and inventories decreased by $12300 and $35300, respectively. Prepaid expenses and accounts payable increased, respectively, by $1200 and $7600. How much cash was provided by operating activities? O $305700 O $321100 O $348600 O $333400
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- The following information is from Lacy's Inc. $ millions Prior Fiscal Year Current Fiscal Year Net Year-End Assets Revenue Income $21,330 14,403 $18,955 $1,070 a. Compute the asset turnover ratio for the current fiscal year. b. Compute the return on assets ratio for the current fiscal year. Numerator a. Asset Turnover Ratio $ Check b. Return on Assets Ratio $ Numerator Denominator / $ Denominator / $ || Result ResultThe net income reported on the income statement for the current year was $73,600. Depreciation recorded on store equipment for the year amounted to $27,400. Balances of the current asset and current liability accounts at the beginning and end of the year are as follows: End of Year Beginning of YearCash $23,500 $18,700Accounts receivable (net) 56,000 48,000Merchandise inventory 35,500 40,000Prepaid expenses 4,750 7,000Accounts payable (merchandise…Bountiful Company had sales of $650,000 and cost of goods sold of $200,000 during a year. The total assets balance at the beginning of the year was $175,000 and at the end of the year was $167,000. Calculate the asset turnover ratio. a.0.26 b.3.00 c.3.80 d.0.29
- Liberty Corporation reported beginning and ending total assets of $25,000 and $22,000, respectively. Its net sales for the year were $18,800. What was Liberty’s asset turnover ratio? a. 0.75 b. 0.85 c. 0.80 d. 1.25Micro, Inc., started the year with net fixed assets of $76,175. At the end of the year, there was $97,925 in the same account, and the company's income statement showed depreciation expense of $13,395 for the year. What was the company's net capital spending for the year? a. $83,990 b. $35,685 c. $21,750 d. $43,580 e. $41,170Right Company reported beginning and ending total assets of $36,000 and $30,000, respectively. Its net sales revenue for the year were $26,070. What was Right's asset turnover ratio? A. 0.87 OB. 1.27 OC. 0.79 OD. 0.72
- Independence Company reported beginning and ending total assets of $38,000 and $42,000, respectively. Its net sales revenue for the year were $34,000. What was Independence's asset turnover ratio? OA. 0.80 ОВ. 0.85 OC. 1.18 OD. 0.81 pe here to search Pi 50 G This question:The net income reported on the income statement for the current year was $361,300. Depreciation recorded on store equipment for the year amounted to $15,520. Balances of the current asset and current liability accounts at the beginning and end of the year are as follows: End of Year Beginning of Year Cash $40,180 $40,070 Accounts receivable (net) 30,070 28,060 Merchandise inventory 40,390 45,420 Prepaid expenses 3,470 4,840 Accounts payable (merchandise creditors) 38,610 37,710 Wages payable 20,330 24,800 Required: A. Prepare the Cash Flows from Operating Activities section of the statement of cash flows, using the indirect method. Refer to the Amount Descriptions list provided for the exact wording of the answer choices for text entries. Use the minus sign to indicate cash outflows, cash payments, decreases in cash and for any adjustments, if required. B. Briefly explain why net cash flow from operating activities is different from net income.The Sales Revenues for 1994 of ABC were $400, CoGS = $200; Depreciation = $50. Find the EBIT.
- Liberty Corporation reported beginning and ending total assets of $25,000 and $22,000, respectively. Its net sales for the year were $18,800. What was Liberty’s asset turnover ratio? 0.75 0.85 0.80 1.25McDonald’s Corporation (MCD) reported the following balance sheet and income statement data for two recent years: (amounts are in $ millions) Total assets Net Income SalesYear 1: $33,803.70 $5,192.30 $22,820.40Year 2: $32,811.20 $5,924.30 $21,025.20 What was McDonald’s asset turnover ratio for Year 2?Company A has sales of $830, costs of $290 (not including depreciation), depreciation expense of $40, interest expense of $40, and a tax rate of 21 percent, current assets of $260, net fixed assets of $1850, current liabilities of $240, and long-term debt of $700. What is the total asset turnover? (keep two decimal places) Your Answer: 0.39