Homework Answers
Calculations for Assets Turnover Ratio Return on Assets for Two Years:-
(1) Assets Turnover Ratio:-
Assets Turnover Ratio is calculated by dividing Net Revenues by Average Total Assets.
Average Total Assets=(Total Assets Beginning+Total Assets Ending)/2
Assets Turnover Ratio=(Net Revenues/Average Total Assets)
(2) Return on Assets:-
Return on Assets is calculated by dividing Net Earnings by Average Total Assets.
Average Total Assets same as above.
Return on Assets=(Net Earnings/Average Total Assets)×100
For 2017:-
Assets Turnover Ratio:-
Average Total Assets=($88,702+$89,494)/2
=($178,196/2)
=$89,098
Assets Turnover Ratio=($32,176/$89,098)
=0.36 Times
Return on Assets:-
Return on Assets=($4,458/$89,098)×100
=5%
For 2016:-
Assets Turnover Ratio:-
Average Total Assets=($77,527+$88,702)/2
=($166,229/2)
=$83,114.5
Assets Turnover Ratio=($26,968/$83,114.5)
=0.32 Times
Return on Assets:-
Return on Assets=($445/$83,114.5)×100
=0.5%
| December 31,2017 | December 31,2016 | |
|---|---|---|
| Assets Turnover Ratio | 0.36 Times | 0.32 Times |
| Return on Assets | 5% | 0.5% |
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2017
2016
Cash
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$ 69,000
Debt investments (short-term)
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39,000
Accounts receivable
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90,000
Inventory
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162,000
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2016
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$
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2018
Total shareholders’ equity
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Balance Sheets
December 31
Assets
2017
2016
Cash
$ 72,000
$ 69,000
Debt investments (short-term)
54,000
39,000
Accounts receivable
107,000
90,000
Inventory
236,000
162,000
Prepaid expenses
30,000
27,000
Land
133,000
133,000
Building and equipment (net)
260,000
188,000
Total assets
$892,000
$708,000
Liabilities and Stockholders’ Equity
Notes payable
$170,000
$106,000
Accounts payable
65,000
54,000
Accrued liabilities
42,000
42,000
Bonds payable, due 2020
250,000
171,000
Common stock, $10 par
209,000
209,000
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At December 31
2017
2016
2015
Assets
Cash
$
31,800
$
36,000
$
37,200
Accounts receivable, net
88,100
62,000
50,500
Merchandise inventory
111,000
83,800
54,500
Prepaid expenses
10,300
9,350
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257,000
235,000
Total assets
$
521,200
$
448,150
$
381,800
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Accounts payable
$
129,200
$
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$
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98,000
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a. Ivanhoe Corporation reported the following selected
information for the two years ended December 31:
2017
2018
Total assets
$560,000
$630,000
Total liabilities
390,000
420,000
Calculate total shareholders’ equity on December 31, 2017, and
2018.
2017
2018
Total shareholders’ equity
$
$
Calculate the change in total shareholders’ equity for the year
ended December 31, 2018.
Change in shareholders’ equity
$
-what effect did this have? (increase, decrease, no
effect)
b. Ivanhoe’s shareholders’ equity consists only of common shares...
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