I want to correct answer The Starks Income Fund's average daily total assets were$100 million for the year just completed. Its stockpurchases for the year were $20 million, while its saleswere $12.5 million.What was its turnover?

Explanation of Asset Turnover:Asset turnover is a financial ratio that measures the efficiency with…

Answered: The Starks Income Fund's average daily…

Financial Management: Theory & Practice

16th Edition

ISBN:9781337909730

Author:Brigham

Publisher:Brigham

Chapter2: Financial Statements, Cash Flow,and Taxes

Section: Chapter Questions

Problem 9P: Carter Swimming Pools has $16 million in net operating profit after taxes (NOPAT) in the current...

See similar textbooks

Similar questions

A mutual fund sold $60 million of assets during the year and purchased $78 million in assets. If the average daily assets of the fund were $256 million, what was the fund turnover?
The New Fund had average daily assets of $2.2 billion last year. The fund sold $400 million worth of stock and purchased $500 million during the year. What was its turnover ratio?
The New Fund had average daily assets of $3.9 billion last year. The fund sold $540 million worth of stock and purchased $680 million during the year. What was its turnover ratio? (Round your answer to 1 decimal place.)
None
The New Fund had average daily assets of Php2.2 billion in the past year. The fund sold Php400 million and purchased Php500 million worth of stock during the year. What was its turnover ratio?
Rosita's Resources paid $11,310 in interest and $16,500 in dividends last year. The times interest earned ratio is 2.9, the depressiation expense is $7,900, and the tax rate 21%. Whate is the value of cash coverage ratio?
A sector fund specializing in commercial bank stocks had average daily assets of $8.6 billion during the year. This fund sold $3.94 billion worth of stock during the year, and its turnover ratio was 0.45. How much stock did this mutual fund purchase during the year?
Aneles Inc.’s Balance Sheet as of December 31, 2020 is as follows: In 2020, the company reported sales of 3,000,000, Net Income of 60,000, and dividends of 10,000. Sales are projected to increase by 10% next year. Both Profit Margin and the Dividend Pay-Out Ratio will remain the same. Operations are at full capacity. Assume external fund will be raised through issuances of Long-Term Obligations or Bonds. A. How much Long-term Debt will the company have to issue next year? B. If the operations are not in full capacity, what will be AFN?
Find the profitability index (PI) for the following series of future cash flows, assuming the company’s cost of capital is 13.85 percent. The initial outlay is $328,041. Year 1: $196,585 Year 2: $165,370 Year 3: $148,695 Year 4: $188,689 Year 5: $128,457
The value of a portfolio increases from $100.394 million to $119.675 million over the year. What is the portfolio turnover, in % (to two decimal places) if the total value of securities sold during the year was $5.306 million? PLEASE HELP
For the next fiscal year, you forecast net income of $49,400 and ending assets of 506,900. Your firm's payout ratio is 10.6 %. Your beginning stockholders' equity is $299,600, and your beginning total liabilities are $128,200. Your non-debt liabilities such as accounts payable are forecasted to increase by $10,500. Assume your beginning debt is $108,200. What amount of equity and what amount of debt would you need to issue to cover the net new financing in order to keep your debt-equity ratio constant?
The Kretovich Company had a quick ratio of 1.4, a current ratio of 3.0, a days’ sales outstanding of 36.5 days (based on a 365-day year), total current assets of $810,000, and cash and marketable securities of $120,000. What were Kretovich’s annual sales?

SEE MORE QUESTIONS

Recommended textbooks for you

Financial Management: Theory & Practice

Finance

ISBN:

9781337909730

Author:

Brigham

Publisher:

Cengage

Intermediate Financial Management (MindTap Course…

Finance

ISBN:

9781337395083

Author:

Eugene F. Brigham, Phillip R. Daves

Publisher:

Cengage Learning

Cornerstones of Financial Accounting

Accounting

ISBN:

9781337690881

Author:

Jay Rich, Jeff Jones

Publisher:

Cengage Learning

Financial Management: Theory & Practice

Finance

ISBN:

9781337909730

Author:

Brigham

Publisher:

Cengage

Intermediate Financial Management (MindTap Course…

Finance

ISBN:

9781337395083

Author:

Eugene F. Brigham, Phillip R. Daves

Publisher:

Cengage Learning

Cornerstones of Financial Accounting

Accounting

ISBN:

9781337690881

Author:

Jay Rich, Jeff Jones

Publisher:

Cengage Learning

SEE MORE TEXTBOOKS

The Starks Income Fund's average daily total assets were $100 million for the year just completed. Its stock purchases for the year were $20 million, while its sales were $12.5 million. What was its turnover?