Please including the explanation, thank you
Homework Answers
| Average Days inventory = 365/ inventory turnover ratio | ||||
| = 365 days /5 | ||||
| =73 days | ||||
| Therefore Correct Option: SECOND | ||||
Add Answer to:
Please including the explanation, thank you
Sync Corp. has net sales of $1,000,000 for the year....
Green Company has net credit sales of $100,000, an asset turnover ratio of 4, and a...
Green Company has net credit sales of $100,000, an asset turnover ratio of 4, and a receivables turnover ratio of 9. What is the average collection period? 11.1 days 36 days 40.6 days 25 days please include the explanation
Financial statements for Askew Industries for 2021 are shown below in thousands 2021 Income Statement Net...
Financial statements for Askew Industries for 2021 are shown below in thousands 2021 Income Statement Net sales $ 8,700 Cost of goods sold (6,075) Gross profit 2,625 Operating expenses (1,875) Interest expense (110) Income tax expense (256) Net income 384 Comparative Balance Sheets Dec. 31 2021 2020 Assets Cash Accounts receivable Inventory Property, plant, and equipment (net) $ 510 510 710 1,100 $2,830 $ 410 310 510 1,200 $2,430 Liabilities and Shareholders' Equity Current liabilities Bonds payable Common stock Retained...
Financial statements for Askew Industries for 2021 are shown below (in thousands): 2021 Income Statement Net...
Financial statements for Askew Industries for 2021 are shown
below (in thousands):
2021 Income Statement
Net sales
$
9,500
Cost of goods sold
(6,425
)
Gross profit
3,075
Operating expenses
(2,225
)
Interest expense
(250
)
Income tax expense
(240
)
Net income
$
360
Comparative Balance Sheets
Dec. 31
2021
2020
Assets
Cash
$
650
$
550
Accounts receivable
650
450
Inventory
850
650
Property, plant, and equipment (net)
2,500
2,600
$
4,650
$
4,250
Liabilities and Shareholders’ Equity...
Financial statements for Askew Industries for 2021 are shown below (in thousands): 2021 Income Statement Net...
Financial statements for Askew Industries for 2021 are shown below (in thousands): 2021 Income Statement Net sales $ 9,200 Cost of goods sold (6,350) Gross profit 2,850 Operating expenses (2,150) Interest expense (220) Income tax expense (192) Net income $ 288 Comparative Balance Sheets Dec. 31 2021 2020 Assets Cash Accounts receivable Inventory Property, plant, and equipment (net) $ 620 620 820 2,200 $4,260 $ 520 420 620 2,300 $3,860 Liabilities and Shareholders' Equity Current liabilities Bonds payable Common stock...
need help ? Selected year-end financial statements of Cabot Corporation follow. (All sales were on credit;...
need help ?
Selected year-end financial statements of Cabot Corporation follow. (All sales were on credit; selected balance sheet amounts at December 31, 2016, were inventory, $52.900; total assets, $229,400; common stock, $88,000; and retained earnings. $32,712.) CABOT CORPORATION Income Statement For Year Ended December 31, 2017 Sales $ 450, 600 Cost of goods sold 297,650 Gross profit 152,950 Operating expenses 99, 100 Interest expense 3,800 Income before taxes 50,050 Income taxes 20. 162 Net Income $ 29,888 $ 16,500...
Required: Calculate the following ratios for 2021. (Consider 365 days a year. Do not round intermediate...
Required: Calculate the following ratios for 2021. (Consider 365 days a year. Do not round intermediate calculations and round your final answers to 2 decimal places.) days days 1. Inventory turnover ratio 2. Average days in inventory 3. Receivables turnover ratio 4. Average collection period 5. Asset turnover ratio 6. Profit margin on sales 7. Return on assets 8. Return on equity 9. Equity multiplier 10. Return on equity (using the DuPont framework) % % % times % Financial statements...
Edison Co, reported the following for the current year Net sales Cost of goods sold Net...
Edison Co, reported the following for the current year Net sales Cost of goods sold Net income Beginning balance of total assets Ending balance of total assets $90,000 $65,000 $23,400 $75,000 $81,000 Compute (a) profit margin and (b) return on total assets Complete this question by entering your answers in the tabs below. Profit Margin Ratio Return On Total Assets Compute the profit margin ratio. Choose Numerator: Profit Margin Ratio Choose Denominator - = Profit Margin Ratio Profit margin ratio...
Financial statements for Askew Industries for 2021 are shown below (in thousands): 2021 Income Statement Net...
Financial statements for Askew Industries for 2021 are shown below (in thousands): 2021 Income Statement Net sales $ 9,900 Cost of goods sold (6,525) Gross profit 3,375 Operating expenses (2,325) Interest expense (290) Income tax expense (384) Net income $ 456 Comparative Balance Sheets Dec. 31 2021 2020 Assets Cash Accounts receivable Inventory Property, plant, and equipment (net) $ 690 690 890 2,900 $5,170 $ 590 490 690 3,000 $4,770 Liabilities and Shareholders' Equity Current liabilities Bonds payable Common stock...
Selected current year-end financial statements of Cabot Corporation follow. (All sales were on credit; selected balance...
Selected current year-end financial statements of Cabot Corporation follow. (All sales were on credit; selected balance sheet amounts at December 31 of the prior year were inventory, $48,900; total assets, $189,400; common stock, $90,000; and retained earnings, $33,748.) CABOT CORPORATION Income Statement For Current Year Ended December 31 Sales $ 448,600 Cost of goods sold 297,250 Gross profit 151,350 Operating expenses 98,600 Interest expense 4,100 Income before taxes 48,650 Income tax expense 19,598 Net income $ 29,052 Assets Cash Short-term...
Q-2 FINANCIAL RATIO FORMULAS Match each of the following financial ratios with its formula: Accounts Payable...
Q-2 FINANCIAL RATIO FORMULAS Match each of the following financial ratios with its formula: Accounts Payable Tunover Ratio Fixed Asset Turnover Ratio Asset Turnover Ratio Cash Coverage Ratio Cash Ratio Current Ratio Average Age of Receivables Average Days Supply in Inventory Receivable Turnover Ratio Debt-to-Equity Ratio Earnings per Share (EPS) Financial Leverage Percentage Times Interest Earned Ratio Inventory Turnover Ratico Price/ Earnings (P/E) Ratio Profit Margin Quality of Income Quick Ratio Return on Equity (ROE) Return on Assets (ROA) A....
Financial statements for Askew Industries for 2021 are shown below in thousands 2021 Income Statement Net sales $ 8,700 Cost of goods sold (6,075) Gross profit 2,625 Operating expenses (1,875) Interest expense (110) Income tax expense (256) Net income 384 Comparative Balance Sheets Dec. 31 2021 2020 Assets Cash Accounts receivable Inventory Property, plant, and equipment (net) $ 510 510 710 1,100 $2,830 $ 410 310 510 1,200 $2,430 Liabilities and Shareholders' Equity Current liabilities Bonds payable Common stock Retained...
Financial statements for Askew Industries for 2021 are shown
below (in thousands):
2021 Income Statement
Net sales
$
9,500
Cost of goods sold
(6,425
)
Gross profit
3,075
Operating expenses
(2,225
)
Interest expense
(250
)
Income tax expense
(240
)
Net income
$
360
Comparative Balance Sheets
Dec. 31
2021
2020
Assets
Cash
$
650
$
550
Accounts receivable
650
450
Inventory
850
650
Property, plant, and equipment (net)
2,500
2,600
$
4,650
$
4,250
Liabilities and Shareholders’ Equity...
Financial statements for Askew Industries for 2021 are shown below (in thousands): 2021 Income Statement Net sales $ 9,200 Cost of goods sold (6,350) Gross profit 2,850 Operating expenses (2,150) Interest expense (220) Income tax expense (192) Net income $ 288 Comparative Balance Sheets Dec. 31 2021 2020 Assets Cash Accounts receivable Inventory Property, plant, and equipment (net) $ 620 620 820 2,200 $4,260 $ 520 420 620 2,300 $3,860 Liabilities and Shareholders' Equity Current liabilities Bonds payable Common stock...
need help ?
Selected year-end financial statements of Cabot Corporation follow. (All sales were on credit; selected balance sheet amounts at December 31, 2016, were inventory, $52.900; total assets, $229,400; common stock, $88,000; and retained earnings. $32,712.) CABOT CORPORATION Income Statement For Year Ended December 31, 2017 Sales $ 450, 600 Cost of goods sold 297,650 Gross profit 152,950 Operating expenses 99, 100 Interest expense 3,800 Income before taxes 50,050 Income taxes 20. 162 Net Income $ 29,888 $ 16,500...
Required: Calculate the following ratios for 2021. (Consider 365 days a year. Do not round intermediate calculations and round your final answers to 2 decimal places.) days days 1. Inventory turnover ratio 2. Average days in inventory 3. Receivables turnover ratio 4. Average collection period 5. Asset turnover ratio 6. Profit margin on sales 7. Return on assets 8. Return on equity 9. Equity multiplier 10. Return on equity (using the DuPont framework) % % % times % Financial statements...
Edison Co, reported the following for the current year Net sales Cost of goods sold Net income Beginning balance of total assets Ending balance of total assets $90,000 $65,000 $23,400 $75,000 $81,000 Compute (a) profit margin and (b) return on total assets Complete this question by entering your answers in the tabs below. Profit Margin Ratio Return On Total Assets Compute the profit margin ratio. Choose Numerator: Profit Margin Ratio Choose Denominator - = Profit Margin Ratio Profit margin ratio...
Financial statements for Askew Industries for 2021 are shown below (in thousands): 2021 Income Statement Net sales $ 9,900 Cost of goods sold (6,525) Gross profit 3,375 Operating expenses (2,325) Interest expense (290) Income tax expense (384) Net income $ 456 Comparative Balance Sheets Dec. 31 2021 2020 Assets Cash Accounts receivable Inventory Property, plant, and equipment (net) $ 690 690 890 2,900 $5,170 $ 590 490 690 3,000 $4,770 Liabilities and Shareholders' Equity Current liabilities Bonds payable Common stock...
Selected current year-end financial statements of Cabot Corporation follow. (All sales were on credit; selected balance sheet amounts at December 31 of the prior year were inventory, $48,900; total assets, $189,400; common stock, $90,000; and retained earnings, $33,748.) CABOT CORPORATION Income Statement For Current Year Ended December 31 Sales $ 448,600 Cost of goods sold 297,250 Gross profit 151,350 Operating expenses 98,600 Interest expense 4,100 Income before taxes 48,650 Income tax expense 19,598 Net income $ 29,052 Assets Cash Short-term...
Q-2 FINANCIAL RATIO FORMULAS Match each of the following financial ratios with its formula: Accounts Payable Tunover Ratio Fixed Asset Turnover Ratio Asset Turnover Ratio Cash Coverage Ratio Cash Ratio Current Ratio Average Age of Receivables Average Days Supply in Inventory Receivable Turnover Ratio Debt-to-Equity Ratio Earnings per Share (EPS) Financial Leverage Percentage Times Interest Earned Ratio Inventory Turnover Ratico Price/ Earnings (P/E) Ratio Profit Margin Quality of Income Quick Ratio Return on Equity (ROE) Return on Assets (ROA) A....
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