Tiffany & Co. is one of the world's premier jewelers and a designer of other fine gifts and housewares. Presented here are selected income statement and balance sheet amounts (dollars in thousands). Current Year Prior Year Net sales $3,643,492 $3,085,845 Net income $489,745 $388,958 Average shareholders' equity $2,263,745 $2,030,912 Average total assets Required: $3,947,836 $3,612,570 1. Compute ROA for the current and prior years. 2. Compute the profit margin for both years and Asset Turnover for both years.

Tiffany & Co. is one of the world's premier jewelers and a designer of other fine gifts and housewares. Presented here are selected income statement and balance sheet amounts (dollars in thousands). Current Year Prior Year Net sales $3,643,492 $3,085,845 Net income $489,745 $388,958 Average shareholders' equity $2,263,745 $2,030,912 Average total assets Required: $3,947,836 $3,612,570 1. Compute ROA for the current and prior years. 2. Compute the profit margin for both years and Asset Turnover for both years.

Financial And Managerial Accounting

15th Edition

ISBN:9781337902663

Author:WARREN, Carl S.

Publisher:WARREN, Carl S.

Chapter10: Liabilities: Current, Installment Notes, And Contingencies

Section: Chapter Questions

Problem 4MAD: Neiman Marcus Group (NMG) is one of the largest luxury fashion retailers in the world. Kohls...

See similar textbooks

Similar questions

Analyze the data below and write what each of these values mean in one coherent paragraph
East Point Retail, Inc., sells apparel through company-owned retail stores. Financial information for East Point follows (in thousands): Net income Interest expense Fiscal Year 3 Fiscal Year 2 Fiscal Year 1 $2,965,307 $2,820,657 $2,490,455 938,794 1,305,728 1,279,872 Assume the apparel industry average return on total assets is 8.0%, and the average return on stockholders' equity is 15.0% for the year ended April 2, Year 3. a. Determine the return on total assets for East Point for fiscal Years 2 and 3. Round your answers to one decimal place. Fiscal Year 3 Total assets (at end of fiscal year) Total stockholders' equity (at end of fiscal year) Fiscal Year 2 Fiscal Year 3 Fiscal Year 2 $83,200 12,400 $161,600 3,300 Fiscal Year 3 Fiscal Year 2 b. Determine the return on stockholders' equity for East Point for fiscal Years 2 and 3. Round your answers to one decimal place. % olders! % % % the ra
Polo Ralph Lauren Corporation designs, markets, and distributes a variety of apparel, home decor, accessory, and fragrance products. The companys products include such brands as Polo by Ralph Lauren, Ralph Lauren Purple Label, Ralph Lauren, Polo Jeans Co., and Chaps. Polo Ralph Lauren reported the following (in thousands) for two recent years: Assume that accounts receivable (in millions) were 486,200 at the beginning of Year 1. a. Compute the accounts receivable turnover for Year 2 and Year 1. Round to one decimal place. b. Compute the days sales in receivables for Year 2 and Year 1. Use 365 days and round to one decimal place. c. What conclusions can be drawn from these analyses regarding Ralph Laurens efficiency in collecting receivables?
Analyze and compare Clorox and Procter & Gamble The Clorox Company (CLX) and The Procter & Gamble Company (PG) produce and sell packaged consumer products around the world. Income and interest expense information from financial statements for a recent year follows (in millions): Clorox Procter & Gamble Interest expense $88 $579 Income before income tax expense 983 13,369 a. Compute the times interest earned for each company. Round to one decimal place. Clorox: fill in the blank 1 Procter & Gamble: fill in the blank 2 b. If you were a lender to these two companies, which one appears to have the greater coverage of interest expense and thus the greater protection for your loan interest?
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) Current Year Prior Year Select Income Statement Information Net revenue $ 4,556 $ 4,320 Cost of goods sold 2,643 2,533 Selling, general, and administrative expenses 1,305 1,226 Interest expense 76 74 Income tax expense 235 190 Net income 378 321 Select Statement of Cash Flows Information Cash paid for interest 67 71 Cash flows from operating activities 618 559 Select Balance Sheet Information Cash and equivalents 517 360 Marketable securities — 8 Accounts receivable 512 511 Inventories 255 246 Prepaid expense and other current assets 30 27 Accounts payable 160…
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) Current Year Prior Year Select Income Statement Information Net revenue $ 4,556 $ 4,320 Cost of goods sold 2,643 2,533 Selling, general, and administrative expenses 1,305 1,226 Interest expense 76 74 Income tax expense 235 190 Net income 378 321 Select Statement of Cash Flows Information Cash paid for interest 67 71 Cash flows from operating activities 618 559 Select Balance Sheet Information Cash and equivalents 517 360 Marketable securities — 8 Accounts receivable 512 511 Inventories 255 246 Prepaid expense and other current assets 30 27 Accounts payable 160…
The table below contains selected financial information from recent financial statements of KBI Toys and Little Tikes Adventure Toys, Inc., two toy manufacturing companies ($ in thousands): KBI Toys Little Tikes 12/31/2021 12/31/2020 12/31/2021 12/31/2020 Net sales $ 80,622 $ 72,120 $ 63,480 $ 68,900 Cost of goods sold 58,900 53,800 40,786 46,325 Year-end inventory 7,400 6,900 5,800 6,300 Required:Calculate the 2021 gross profit ratio, inventory turnover ratio, and the average days in inventory for the two companies. (Round "Inventory turnover" answer to two decimal places.) KBI TOYS Little Tikes Gross Profit Ratio % % Inventory Turnover Average Days in Inventory. days days
Excerpts from Dowling Company's December 31, 2021 and 2020, financial statements and key ratios are presented below (all numbers are in millions): 2021 2020 Accounts receivable (net) $ 20 $ 16 Net sales $ 115 $ 100 Cost of goods sold $ 60 $ 55 Net income $ 20 $ 17 Inventory turnover 5.22 Return on assets 10.3 % Equity multiplier 2.36 Dowling's 2021 average collection period is (rounded)? Show your work. Question 44 options:
The Home Depot is the world's largest home improvement retailer and one of the largest retailers in the United States based on net sales volume. The Home Depot operates over 2,200 Home Depot® stores that sell a wide assortment of building materials and home improvement and lawn and garden products. The Home Depot recently reported the following balance sheet data (in millions) Year 2 Year 1 Total assets $39,946 $40,518 Total stockholders' equity 12,522 9,322 a. Determine the total liabilities at the end of Years 2 and 1. b. Determine the ratio of liabilities to stockholders' equity for Year 2 and Year 1. Round to two decimal places What conclusions regarding the margin of protection to the creditors can you C. draw from (b)?
Wolverine World Wide, Inc., manufactures military, work, sport, and casual footwear and leather accessories under a variety of brand names, such as Hush Puppies, Wolverine, Merrell, Stride Rite, and Bates, to a global market. The following transactions occurred during a recent year. Dollars are in millions. Issued common stock to investors for $22.4 cash (example). Purchased $1,683.6 of additional inventory on account. Paid $31.1 on long-term debt principal and $2.6 in interest on the debt. Sold $2,347 of products to customers on account; cost of the products sold was $1,410.6. (Hint: There are two separate effects needed for (d): one for earning revenue and one for incurring an expense.) Paid cash dividends of $35 to shareholders. Purchased for cash $31.4 in additional property, plant, and equipment. Incurred $705.6 in selling expenses, paying three-fourths in cash and owing the rest on account. Earned $1 of interest on investments, receiving 80 percent in cash. Incurred $43 in…
Need help with this question
RUSH PLEASE THANK YOU The Bountiful Company was organized on January 3, 2022 with a share capital fully paid up of P 10,000,000. At December 31, 2022, the general ledger of said company showed the following accounts and balances: Your examination revealed that the cost of merchandise sold was 65% of sale. Based on the foregoing, answer the following questions: 1. How much is the total collections from sales during the year? A. 1,171,500 B. 1,240,000 C. 2,470,000 D. 3,710,000 2. How much is the total cash receipts during the year? A. 2,470,000 B. 13,870,000 C. 3,870,000 D. 12,470,000