Essentials Of Investments
11th Edition
ISBN:9781260013924
Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Publisher:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Chapter1: Investments: Background And Issues
Section: Chapter Questions
Problem 1PS
Related questions
Question
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What is the Inventory turnover, Age of inventory, asset turnover (2 years), and Fixed asset turnover (2 years)
![Compare Company
Statement of Financial Position
December 31,2016 and December 31, 2017
2017
2016
Current Assets
Cash
190,000.00
160,000.00
Accounts Receivable
170,000.00
160,000.00
100,000.00
Inventory
Prepaid Expense
80,000.00
80,000.00
80,000.00
Total current assets
520,000.00
500,000.00
Noncurrent Assets
Plant and Equipment
Total assets
1,450,000.00
1,430,000.00
1,970,000.00
1,930,000.00
Current Liabilities
Accounts Payable
180,000.00
190,000.00
Accrued liabilities
110,000,00
80,000.00
Notes Payable (short term)
210,000.00
210,000.00
Total Current Liabilities
500,000.00
480,000.00
Long-term Debt
Owner's Capital
Total Liabilities and Equity
470,000.00
500,000.00
1,000,000.00
950,000.00
1,970,000.00
1,930,000.00](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F22715279-4ac8-4474-bf97-bd41fcab13bf%2F270c9067-532f-4e27-8441-b4cb16e7a90e%2Ftyr0bnj_processed.jpeg&w=3840&q=75)
Transcribed Image Text:Compare Company
Statement of Financial Position
December 31,2016 and December 31, 2017
2017
2016
Current Assets
Cash
190,000.00
160,000.00
Accounts Receivable
170,000.00
160,000.00
100,000.00
Inventory
Prepaid Expense
80,000.00
80,000.00
80,000.00
Total current assets
520,000.00
500,000.00
Noncurrent Assets
Plant and Equipment
Total assets
1,450,000.00
1,430,000.00
1,970,000.00
1,930,000.00
Current Liabilities
Accounts Payable
180,000.00
190,000.00
Accrued liabilities
110,000,00
80,000.00
Notes Payable (short term)
210,000.00
210,000.00
Total Current Liabilities
500,000.00
480,000.00
Long-term Debt
Owner's Capital
Total Liabilities and Equity
470,000.00
500,000.00
1,000,000.00
950,000.00
1,970,000.00
1,930,000.00
![COMPARE CORPORATION
Income Statement
December 31,2016 and December 31,201
2017
2016
Net Sales
3,950,000.00
2,980,000.00
Less Cost of Goods Sold
1,500,000.00
1,050,000.00
Gross Profit
2,450,000.00
1,930,000.00
Less: Other Expenses
800,000.00
1,650,000.00
700,000.00
Operating Income
Less: Interest Expense
1,230,000.00
30,000.00
25,000.00
Net Income
1,620,000.00
1,205,000.00](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F22715279-4ac8-4474-bf97-bd41fcab13bf%2F270c9067-532f-4e27-8441-b4cb16e7a90e%2Fms4z7vo_processed.jpeg&w=3840&q=75)
Transcribed Image Text:COMPARE CORPORATION
Income Statement
December 31,2016 and December 31,201
2017
2016
Net Sales
3,950,000.00
2,980,000.00
Less Cost of Goods Sold
1,500,000.00
1,050,000.00
Gross Profit
2,450,000.00
1,930,000.00
Less: Other Expenses
800,000.00
1,650,000.00
700,000.00
Operating Income
Less: Interest Expense
1,230,000.00
30,000.00
25,000.00
Net Income
1,620,000.00
1,205,000.00
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