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Use the financial statements of Heifer Sports Inc. to find the information below for Heifer. (Use 365 day 2 decimal places except $ amounts.) Income Statement Sales Cost of goods sold Depreciation Selling and administrative expenses. EBIT Interest expense Taxable income Taxes Net income Balance Sheet, Year-End Assets Cash Accounts receivable Inventory Total current assets. Fixed assets Total assets Liabilities and Stockholders' Equity Accounts payable Short-term debt Total current liabilities. Long-term bonds Total liabilities 2020 $ 5,650,000 2,950,000 291, 200 1,560, 000 848, 800 146,000 702, 800 315, 400 $ 387, 400 a. Inventory turnover ratio in 2020 b. Debt/equity ratio in 2020 c. Cash flow from operating activities in 2020 $ $ Common stock Retained earnings Total stockholders' equity Total liabilities and stockholders' equity. $ 47, 300 640,000 475, 100 $1,162, 400 3, 024, 000 $4, 186, 400 $ $ $ 2020 3,030, 600 313, 800 842, 000 1,155, 800 $ $ 4,186, 400 $ 332, 500 493, 000 825, 500 2, 205, 100 2019 60, 000 1,037, 500 721, 700 $ 1,819, 200 4, 231,000 $ 6,050, 200 $ 705, 000 863, 300 $ 1,568, 300 3,453, 500 $ 5,021,800 $ 313, 800 714, 600 $1,028, 400 $ 6,050, 200

Use the financial statements of Heifer Sports Inc. to find the information below for Heifer. (Use 365 day 2 decimal places except $ amounts.) Income Statement Sales Cost of goods sold Depreciation Selling and administrative expenses. EBIT Interest expense Taxable income Taxes Net income Balance Sheet, Year-End Assets Cash Accounts receivable Inventory Total current assets. Fixed assets Total assets Liabilities and Stockholders' Equity Accounts payable Short-term debt Total current liabilities. Long-term bonds Total liabilities 2020 $ 5,650,000 2,950,000 291, 200 1,560, 000 848, 800 146,000 702, 800 315, 400 $ 387, 400 a. Inventory turnover ratio in 2020 b. Debt/equity ratio in 2020 c. Cash flow from operating activities in 2020 $ $ Common stock Retained earnings Total stockholders' equity Total liabilities and stockholders' equity. $ 47, 300 640,000 475, 100 $1,162, 400 3, 024, 000 $4, 186, 400 $ $ $ 2020 3,030, 600 313, 800 842, 000 1,155, 800 $ $ 4,186, 400 $ 332, 500 493, 000 825, 500 2, 205, 100 2019 60, 000 1,037, 500 721, 700 $ 1,819, 200 4, 231,000 $ 6,050, 200 $ 705, 000 863, 300 $ 1,568, 300 3,453, 500 $ 5,021,800 $ 313, 800 714, 600 $1,028, 400 $ 6,050, 200

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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Use the financial statements of Heifer Sports Inc. to find the information below for Heifer. (Use 365 days a year. Round all answers to 2 decimal places except $ amounts.) Income Statement Sales Cost of goods sold Depreciation Selling and administrative expenses EBIT Interest expense Taxable income Taxes Net income Balance Sheet, Year-End Assets Cash Accounts receivable Inventory Total current assets Fixed assets Total assets Liabilities and Stockholders' Equity Accounts payable Short-term debt. Total current liabilities Long-term bonds Total liabilities a. Inventory turnover ratio in 2020 b. Debt/equity ratio in 2020 c. Cash flow from operating activities in 2020 d. Average collection period e. Asset turnover ratio f. Interest coverage ratio g. Operating profit margin h. Return on equity 2020 $ 5,650,000 2,950,000 291, 200 1, 560, 000 848, 800 146,000 Common stock Retained earnings. Total stockholders' equity Total liabilities and stockholders' equity j. Compound leverage ratio k. Net cash provided by operating activities $ 702, 800 315, 400 387, 400 $ 47, 300 640,000 475, 100 $1, 162, 400 3, 024, 000 4, 186, 400 2020 $ 332, 500 493, 000 825, 500 2,205, 100 $ 3,030, 600 313, 800 842, 000 $1,155, 800 $4, 186, 400 $ % % 60, 000 1,037, 500 721, 700 $1,819, 200 4, 231, 000 $6,050, 200 2019 days 705, 000 863, 300 $ 1,568, 300 3, 453, 500 $ 5,021, 800 $ 313, 800 714, 600 $ 1,028, 400 $6,050, 200
Transcribed Image Text:Use the financial statements of Heifer Sports Inc. to find the information below for Heifer. (Use 365 days a year. Round all answers to 2 decimal places except $ amounts.) Income Statement Sales Cost of goods sold Depreciation Selling and administrative expenses EBIT Interest expense Taxable income Taxes Net income Balance Sheet, Year-End Assets Cash Accounts receivable Inventory Total current assets Fixed assets Total assets Liabilities and Stockholders' Equity Accounts payable Short-term debt. Total current liabilities Long-term bonds Total liabilities a. Inventory turnover ratio in 2020 b. Debt/equity ratio in 2020 c. Cash flow from operating activities in 2020 d. Average collection period e. Asset turnover ratio f. Interest coverage ratio g. Operating profit margin h. Return on equity 2020 $ 5,650,000 2,950,000 291, 200 1, 560, 000 848, 800 146,000 Common stock Retained earnings. Total stockholders' equity Total liabilities and stockholders' equity j. Compound leverage ratio k. Net cash provided by operating activities $ 702, 800 315, 400 387, 400 $ 47, 300 640,000 475, 100 $1, 162, 400 3, 024, 000 4, 186, 400 2020 $ 332, 500 493, 000 825, 500 2,205, 100 $ 3,030, 600 313, 800 842, 000 $1,155, 800 $4, 186, 400 $ % % 60, 000 1,037, 500 721, 700 $1,819, 200 4, 231, 000 $6,050, 200 2019 days 705, 000 863, 300 $ 1,568, 300 3, 453, 500 $ 5,021, 800 $ 313, 800 714, 600 $ 1,028, 400 $6,050, 200
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