Inventory turnover ratio = cost of goods sold/average inventory | ||||||
average inventory = 1600+1010/2 = 1305 | ||||||
inventory turnover ratio = 6200/1305 = 4.75 | ||||||
receivable turnover ratio = net sale/average account receivable | ||||||
average account receivable = 980+640/2 =810 | ||||||
receivable turnover ratio = 12000/810 = 14.81 | ||||||
average collection period = 365/receivable turnover ratio | ||||||
average collection period = 365/14.81 = 24.64 | ||||||
assets turnover ratio= net sale/average total assets | ||||||
average assets = 6960+5830/2 =6395 | ||||||
assets turnover ratio = 12000/6395 = 1.88 |
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The 2021 income statement of Anderson Medical Supply Company reported net sales of $12 million, cost...
The 2021 income statement of Anderson Medical Supply Company reported net sales of $11 million, cost of goods sold of $5.7 million, and net income of $845,000. The following table shows the company's comparative balance sheets for 2021 and 2020: The 2021 income statement of Anderson Medical Supply Company reported net sales of $11 million, cost of goods sold of $5.7 million, and net income of $845,000. The following table shows the company's comparative balance sheets for 2021 and 2020:...
The 2021 income statement of Anderson Medical Supply Company reported net sales of $12 million, cost of goods sold of $5.8 million, and net income of $850,000. The following table shows the company's comparative balance sheets for 2021 and 2020: ($ in thousands) 2021 2020 $ 500 900 1,400 3,400 $6,200 $ 580 600 1,200 3,120 $5,500 Assets Cash Accounts receivable Inventory Property, plant, and equipment (net) Total assets Liabilities and shareholders' equity Current liabilities Bonds payable Common stock Retained...
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The 2021 income statement of Anderson Medical Supply Company reported net sales of $12 million, cost of goods sold of $6.5 million, and net income of $885,000. The following table shows the company's comparative balance sheets for 2021 and 2020 ($ in thousands) 2021 2020 $ 640 $ 720 1.0406 70 1.250 1.160 4,100 3,820 $7,030 $6,370 Assets Cash Accounts receivable Inventory Property, plant, and equipment (net) Total assets Liabilities and shareholders' equity Current liabilities Bonds payable Common stock Retained...
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Saved Help HW Save & E Che The 2021 income statement of Anderson Medical Supply Company reported net sales of $8 million, cost of goods sold of $5.1 million, and net income of $815,000. The following table shows the company's comparative balance sheets for 2021 and 2020: (5 in thousands) 2021 2020 $ 360 760 1,050 2,700 $ 4,870 $ 440 530 850 2,420 $ 4,240 Assets Cash Accounts receivable Inventory Property, plant, and equipment (net) Total assets Liabilities and...