Financial Accounting: Tools for Business Decision Making, 8th Edition
8th Edition
ISBN: 9781118953808
Author: Paul D. Kimmel, Jerry J. Weygandt, Donald E. Kieso
Publisher: WILEY
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Chapter 13, Problem 13.9E
Instruction a:
To determine
Financial Ratios: Financial ratios are the metrics used to evaluate the capabilities, profitability, and overall performance of a company.
To compute:
Instruction b:
To determine
To compute:
Instruction c:
To determine
To compute: Average collection period
Instruction d:
To determine
To compute: Inventory turnover ratio
Instruction e:
To determine
To compute: Days in inventory
Instruction f:
To determine
To compute:
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Given is data for General Mills Inc. for its fiscal year ended May 27, 2018 ($ millions).
Cost of goods sold (COGS) = $14,438.1
Cash from operating activities = $3,977.4
Cash from investing activities = (12,159.6)
Noncash assets, end of year = 42,315.0
Cash, end of year = 558.6
Cash from financing activities = 7,668.2
Income tax expense = 80.2
Total assets, beginning of year = 30,537.6
Revenue = 22,036.6
Total liabilities, end of year = 33,784.2
Total expenses, other than COGS = 4,490
Stockholders' equity, end of year = 9,089.4
Prepare Income statement, Cash flow statement and Balance sheet for the year 2008. Do not use negative sign, use brackets.
Note : Answers for tally-
For the year ended May 27, 2018 Answer Revenues Answer 22,036.6 Answer Cost of goods sold Answer 14,438.1 Answer Gross profit Answer 7,958.5 Answer Expenses Answer 4,490.1 Answer Net income Answer 3,108.4 Answer Total assets Answer 0 Answer Total liabilities and equity Answer 0 b. Prepare the balance…
s
The 2021 income statement of Adrian Express reports sales of $22,110,000, cost of goods sold of $12,950,000, and net income of
$2,260,000. Balance sheet information is provided in the following table.
Assets
Current assets:
Cash
Accounts receivable
Inventory
Long-term assets
Total assets
Liabilities and Stockholders' Equity
Current liabilities
Long-term liabilities
Common stock
Retained earnings
Total liabilities and stockholders' equity
Gross profit ratio
Return on assets
ADRIAN EXPRESS
Balance Sheets
December 31, 2021 and 2020
Profit margin
Asset turnover
Return on equity
Profitability Ratios
Industry averages for the following profitability ratios are as follows:
Gross profit ratio
Mes
%
$
45%
25%
15%
15.5 times.
35%
2021
2020
980,000
1,950,000
2,490,000
5,180,000 4,480,000
$10,600,000
$8,640,000
$1,000,000
1,310,000
1,850,000
Required:
1. Calculate the five profitability ratios listed above for Adrian Express. (Round your answers to 1 decimal place.)
$ 2,228,000 $1,928,000…
All sales were on account. Net cash provided by operating activities for 2017 was $234,000. Capital expenditures were $136,000, and cash dividends were $61,000.Compute the following ratios for 2017.
(a)
Earnings per share
$
(b)
Return on common stockholders’ equity
%
(c)
Return on assets
%
(d)
Current ratio
:1
(e)
Accounts receivable turnover
times
(f)
Average collection period
days
(g)
Inventory turnover
times
(h)
Days in inventory
days
(i)
Times interest earned
times
(j)
Asset turnover
times
(k)
Debt to assets ratio
%
(l)
Free cash flow
Chapter 13 Solutions
Financial Accounting: Tools for Business Decision Making, 8th Edition
Ch. 13 - Prob. 1QCh. 13 - Prob. 2QCh. 13 - Prob. 3QCh. 13 - Prob. 4QCh. 13 - Prob. 5QCh. 13 - Prob. 6QCh. 13 - Prob. 7QCh. 13 - Prob. 8QCh. 13 - Prob. 9QCh. 13 - (a) Distinguish among the following bases of...
Ch. 13 - Prob. 11QCh. 13 - Prob. 12QCh. 13 - Prob. 13QCh. 13 - Prob. 14QCh. 13 - Prob. 15QCh. 13 - Prob. 16QCh. 13 - Prob. 17QCh. 13 - Prob. 18QCh. 13 - Prob. 19QCh. 13 - Prob. 20QCh. 13 - Prob. 21QCh. 13 - Prob. 22QCh. 13 - Prob. 13.1BECh. 13 - Prob. 13.2BECh. 13 - Prob. 13.3BECh. 13 - Prob. 13.4BECh. 13 - Prob. 13.5BECh. 13 - Prob. 13.6BECh. 13 - Prob. 13.7BECh. 13 - Prob. 13.8BECh. 13 - Prob. 13.9BECh. 13 - Prob. 13.10BECh. 13 - Prob. 13.11BECh. 13 - Prob. 13.12BECh. 13 - Prob. 13.13BECh. 13 - Prob. 13.14BECh. 13 - Prob. 13.15BECh. 13 - Prob. 13.1DIECh. 13 - Prob. 13.2DIECh. 13 - Prob. 13.3DIECh. 13 - Prob. 13.1ECh. 13 - Prob. 13.2ECh. 13 - Prob. 13.3ECh. 13 - Prob. 13.4ECh. 13 - Prob. 13.5ECh. 13 - Prob. 13.6ECh. 13 - Prob. 13.7ECh. 13 - Prob. 13.8ECh. 13 - Prob. 13.9ECh. 13 - Prob. 13.10ECh. 13 - Prob. 13.11ECh. 13 - Prob. 13.12ECh. 13 - Prob. 13.13ECh. 13 - Prob. 13.1APCh. 13 - Prob. 13.2APCh. 13 - Prob. 13.3APCh. 13 - Prob. 13.4APCh. 13 - Prob. 13.5APCh. 13 - Prob. 13.1EYCTCh. 13 - Prob. 13.2EYCTCh. 13 - Prob. 13.3EYCTCh. 13 - Prob. 13.4EYCTCh. 13 - Prob. 13.7EYCTCh. 13 - Prob. 13.8EYCTCh. 13 - Prob. 13.9EYCTCh. 13 - Prob. 13.1IFRS
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