Homework Answers
Answer-a)- Profit margin = (Net income/Net sales)*100
= ($84/$5600)*100
= 1.5%
b)- Asset turnover =Net sales/Average Total assets
=$5600/($3860+$3150)/2
=$5600/$3500
=1.6 times
c)- Return on assets =(Net income/Average total assets)*100
={$84/($3860+$3150)/2}*100
=($84/$3500)*100
= 2.4%
d)- Return on common stockholder’s equity=Net income-Preferred dividends/Average common stockholder’s equity
= {$84/($1005+$852)/2}
= ($84/$928.5)*100
= 9.0%
e)- Gross profit rate = (Gross profit/Net Sales)*100
= ($1904/$5600)*100
= 34%
Where- Gross profit = Sales-Cost of goods sold
= $5600-$3696
= $1904
Add Answer to:
CALCULATOR PRINTER VERSION BACK NEXT Exercise 18-10 Suppose selected comparative statement data for the giant bookseller...
Exercise 18-10 Suppose selected comparative statement data for the giant bookseller Barnes & Noble are presented...
Exercise 18-10 Suppose selected comparative statement data for the giant bookseller Barnes & Noble are presented here. All balance sheet data are as of the end of the fiscal year (in millions) 2020 2019 Net sales Cost of goods sold Net income Accounts receivable Inventory Total assets Total common stockholders' equity $5,600 3,637 147 109 1,239 3,170 980 $4,800 3,888 1,314 2,830 994 Compute the following ratios for 2020. (Round asset turnover to 2 decimal places, e.g. 1.67. Round all...
*Exercise 9-10 Suppose selected comparative statement data for the giant bookseller Barnes & Noble are presented...
*Exercise 9-10 Suppose selected comparative statement data for the giant bookseller Barnes & Noble are presented here. All balance sheet data are as of the end of the fiscal year (in millions). Net sales Cost of goods sold Net income Accounts receivable Inventory Total assets Total common stockholders' equity 2017 $5,121.8 3,540.6 75.9 81.0 1,203.5 2,993.9 921.6 2016 $5,286.7 3,679.8 135.8 107.1 1,358.2 3,249.8 1,074.7 Compute the following ratios for 2017. (Round asset turnover to 2 decimal places, e.g 1.83...
Exercise 13-10 Suppose selected comparative statement data for the giant bookseller Barnes & Noble are presented...
Exercise 13-10 Suppose selected comparative statement data for the giant bookseller Barnes & Noble are presented here. All balance sheet data are as of the end of the fiscal year (in millions). Net sales Cost of goods sold Net income 2019 $4,950 3,701 2018 $5,601 3,801 65 161 Accounts receivable Inventory 75 1,150 2,950 880 104 1,250 3,150 1,080 Total assets Total common stockholders' equity Compute the following ratios for 2019. (Round asset turnover to 2 decimal places, e.g 1.83...
Suppose selected comparative statement data for the giant bookseller Barnes & Noble are presented here. All...
Suppose selected comparative statement data for the giant bookseller Barnes & Noble are presented here. All balance sheet data are as of the end of the fiscal year (in millions). 2020 2019 Net sales $5,400 $4,900 Cost of goods sold 3,294 3,492 Net income 70 138 Accounts receivable 87 112 Inventory 1,181 1,349 Total assets 3,000 3,750 Total common stockholders’ equity 913 1,084 Compute the following ratios for 2020. (Round asset turnover to 2 decimal places, e.g. 1.67. Round all...
View Policies Current Attempt in Progress Selected hypothetical comparative statement data for the giant bookseller Barnes...
View Policies Current Attempt in Progress Selected hypothetical comparative statement data for the giant bookseller Barnes & Noble are presented here. All balance sheet data are as of the end of the fiscal year (in millions). 2022 $4.950.2 3,700.7 65.1 Net sales Cost of goods sold Net income Accounts receivable Inventory Total assets Total common stockholders' equity 2021 $5,600.7 3,100.0 130.3 102.2 1.350.1 3.250.1 1.100.5 65.0 1,250.1 2.850.0 960.8 Compute the following ratios for 2022. (Round asset turnover to 2...
The comparative statements of Crane Company are presented here: Crane Company Income Statements For the Years...
The comparative statements of Crane Company are presented here: Crane Company Income Statements For the Years Ended December 31 2020 Net sales $1,898,740 Cost of goods sold 1,066,740 Gross profit 832,000 Selling and administrative expenses 508,200 Income from operations 323,800 Other expenses and losses Interest expense 23,700 Income before income taxes 300,100 Income tax expense 93,700 Net income $206,400 2019 $1,758,700 1,014,200 744,500 487,200 257,300 21,700 235,600 74,700 $160,900 Crane Company Balance Sheets December 31 Assets 2020 2019 Current assets...
inment CALCULATOR FI Exercise 2-8 These financial statement items are for Nash's Trading Post, LLC at...
inment CALCULATOR FI Exercise 2-8 These financial statement items are for Nash's Trading Post, LLC at year-end, July 31, 2017. Salaries and wages payable $ 3,080 Salaries and wages expense 58,500 Supplies expense 16,600 Equipment 19,500 Accounts payable 4,100 Service revenue 67,100 Rent revenue 9,500 Notes payable (due in 2020) 2,800 Common stock 16,000 Cash 30,200 Accounts receivable 10,780 Accumulated depreciation-equipment 7,000 Dividends 4,000 Depreciation expense 5,000 Retained earnings (beginning of the year) 35,000 Prepare an income statement for the...
*Exercise 18-8 Selected comparative statement data for Queen Products Company are presentec below. All balance sheet...
*Exercise 18-8 Selected comparative statement data for Queen Products Company are presentec below. All balance sheet data are as of December 31. 2017 2016 Net sales $762,500 $715,000 Cost of goods sold 478,500 438,000 Interest expense 7,400 4,800 Net income 45,000 46,000 Accounts receivable 118,000 108,500 Inventory 83,300 74,800 Total assets 578,000 495,600 Total common stockholders' equity 428,300 329,300 Compute the following ratios for 2017. (Round answers to 1 decimal place, e.g. 1.6, or 1.6% .) Profit margin Asset turnover...
CALCULATOR PRINTER VERSSON BACK NEXT Exercise 2-05 These Items are taken from the financial statements of...
CALCULATOR PRINTER VERSSON BACK NEXT Exercise 2-05 These Items are taken from the financial statements of Sandhill Co. at December 31, 2022 Buildings Accounts receivable $126,960 15,120 Prepaid insurance 3,840 Cash 14,208 98,880 Equipment Land 73,440 Insurance expense 936 Depreciation expense Interest expense Common stock 6,360 3,120 72,000 Retained earnings (January 1, 2022) Accumulated depreciation-buildings Accounts payable 48,000 54,720 11,400 Notes payable 112,320 Accumulated depreciation-equipment 22,464 4,320 Interest payable 17,640 Service revenue Prepare a classified balance sheet. Assume that $16,320...
Exercise 18-8 Your answer is partially correct. Try again. Selected comparative statement data for Queen Products...
Exercise 18-8 Your answer is partially correct. Try again. Selected comparative statement data for Queen Products Company are presented below. All balance sheet data are as of December 31. 2017 2016 Net sales $760,000 $723,500 Cost of goods sold 481,500 441,000 Interest expense 6,300 6,000 Net Income 50,000 39,000 Accounts receivable 117.500 102,500 Inventory 89,600 76,600 Total assets 581,600 497,700 Total common stockholders' equity 431,300 329,300 Compute the following ratios for 2017. (Round answers to 1 decimal place, e.g. 1.6,...
Exercise 18-10 Suppose selected comparative statement data for the giant bookseller Barnes & Noble are presented here. All balance sheet data are as of the end of the fiscal year (in millions) 2020 2019 Net sales Cost of goods sold Net income Accounts receivable Inventory Total assets Total common stockholders' equity $5,600 3,637 147 109 1,239 3,170 980 $4,800 3,888 1,314 2,830 994 Compute the following ratios for 2020. (Round asset turnover to 2 decimal places, e.g. 1.67. Round all...
*Exercise 9-10 Suppose selected comparative statement data for the giant bookseller Barnes & Noble are presented here. All balance sheet data are as of the end of the fiscal year (in millions). Net sales Cost of goods sold Net income Accounts receivable Inventory Total assets Total common stockholders' equity 2017 $5,121.8 3,540.6 75.9 81.0 1,203.5 2,993.9 921.6 2016 $5,286.7 3,679.8 135.8 107.1 1,358.2 3,249.8 1,074.7 Compute the following ratios for 2017. (Round asset turnover to 2 decimal places, e.g 1.83...
Exercise 13-10 Suppose selected comparative statement data for the giant bookseller Barnes & Noble are presented here. All balance sheet data are as of the end of the fiscal year (in millions). Net sales Cost of goods sold Net income 2019 $4,950 3,701 2018 $5,601 3,801 65 161 Accounts receivable Inventory 75 1,150 2,950 880 104 1,250 3,150 1,080 Total assets Total common stockholders' equity Compute the following ratios for 2019. (Round asset turnover to 2 decimal places, e.g 1.83...
View Policies Current Attempt in Progress Selected hypothetical comparative statement data for the giant bookseller Barnes & Noble are presented here. All balance sheet data are as of the end of the fiscal year (in millions). 2022 $4.950.2 3,700.7 65.1 Net sales Cost of goods sold Net income Accounts receivable Inventory Total assets Total common stockholders' equity 2021 $5,600.7 3,100.0 130.3 102.2 1.350.1 3.250.1 1.100.5 65.0 1,250.1 2.850.0 960.8 Compute the following ratios for 2022. (Round asset turnover to 2...
The comparative statements of Crane Company are presented here: Crane Company Income Statements For the Years Ended December 31 2020 Net sales $1,898,740 Cost of goods sold 1,066,740 Gross profit 832,000 Selling and administrative expenses 508,200 Income from operations 323,800 Other expenses and losses Interest expense 23,700 Income before income taxes 300,100 Income tax expense 93,700 Net income $206,400 2019 $1,758,700 1,014,200 744,500 487,200 257,300 21,700 235,600 74,700 $160,900 Crane Company Balance Sheets December 31 Assets 2020 2019 Current assets...
inment CALCULATOR FI Exercise 2-8 These financial statement items are for Nash's Trading Post, LLC at year-end, July 31, 2017. Salaries and wages payable $ 3,080 Salaries and wages expense 58,500 Supplies expense 16,600 Equipment 19,500 Accounts payable 4,100 Service revenue 67,100 Rent revenue 9,500 Notes payable (due in 2020) 2,800 Common stock 16,000 Cash 30,200 Accounts receivable 10,780 Accumulated depreciation-equipment 7,000 Dividends 4,000 Depreciation expense 5,000 Retained earnings (beginning of the year) 35,000 Prepare an income statement for the...
*Exercise 18-8 Selected comparative statement data for Queen Products Company are presentec below. All balance sheet data are as of December 31. 2017 2016 Net sales $762,500 $715,000 Cost of goods sold 478,500 438,000 Interest expense 7,400 4,800 Net income 45,000 46,000 Accounts receivable 118,000 108,500 Inventory 83,300 74,800 Total assets 578,000 495,600 Total common stockholders' equity 428,300 329,300 Compute the following ratios for 2017. (Round answers to 1 decimal place, e.g. 1.6, or 1.6% .) Profit margin Asset turnover...
CALCULATOR PRINTER VERSSON BACK NEXT Exercise 2-05 These Items are taken from the financial statements of Sandhill Co. at December 31, 2022 Buildings Accounts receivable $126,960 15,120 Prepaid insurance 3,840 Cash 14,208 98,880 Equipment Land 73,440 Insurance expense 936 Depreciation expense Interest expense Common stock 6,360 3,120 72,000 Retained earnings (January 1, 2022) Accumulated depreciation-buildings Accounts payable 48,000 54,720 11,400 Notes payable 112,320 Accumulated depreciation-equipment 22,464 4,320 Interest payable 17,640 Service revenue Prepare a classified balance sheet. Assume that $16,320...
Exercise 18-8 Your answer is partially correct. Try again. Selected comparative statement data for Queen Products Company are presented below. All balance sheet data are as of December 31. 2017 2016 Net sales $760,000 $723,500 Cost of goods sold 481,500 441,000 Interest expense 6,300 6,000 Net Income 50,000 39,000 Accounts receivable 117.500 102,500 Inventory 89,600 76,600 Total assets 581,600 497,700 Total common stockholders' equity 431,300 329,300 Compute the following ratios for 2017. (Round answers to 1 decimal place, e.g. 1.6,...
Most questions answered within 3 hours.
-
MATLAB
write a MATLAB function (1) output a third-order polynomial
function with the coefficients as the...
asked 2 minutes ago -
A z-score
communicates a raw score’s "relative standing"
under the normal curve in relation to:
asked 10 minutes ago -
An object is vibrating on a spring with the following equation
of motion:
?=(30 ??)cos((2?)/(160)?)
a)...
asked 10 minutes ago -
Vulcan Flyovers offers scenic overflights of Mount St. Helens,
the volcano in Washington State that explosively...
asked 12 minutes ago -
If organizations do not adapt fast enough and move incrementally
from the twentieth-century model to the...
asked 13 minutes ago -
A helium balloon with 2.5L of gas has a gauge pressure of 10,000
Pa. The balloon...
asked 17 minutes ago -
What is responsible for Jupiter's enormous magnetic field?
asked 33 minutes ago -
At the end of the year, a company offered to buy 5,000 units of
a product...
asked 34 minutes ago -
Implement C++ program for each of the following.
Let D = [-48, -14, -8, 0, 1,...
asked 54 minutes ago -
Consider a labor market in which LD = 400 – 4W and LS = 250 +...
asked 1 hour ago -
Let’s say you are teaching a typically-developing young child
how to eat with a spoon. Describe...
asked 52 minutes ago -
Ask Your Teacher A toy gun uses a spring to project a 5.6-g soft
rubber sphere...
asked 1 hour ago