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RETURN ON EQUITY AND QUICK RATIO Lloyd Inc. has sales of $600,000, a net income of...
RETURN ON EQUITY AND QUICK RATIO Lloyd Inc. has sales of $350,000, a net income of...
RETURN ON EQUITY AND QUICK RATIO Lloyd Inc. has sales of $350,000, a net income of $31,500, and the following balance sheet: Cash $67,375 Accounts payable $89,250 Receivables 114,625 Notes payable to bank 33,250 Inventories 385,000 Total current liabilities $122,500 Total current assets $567,000 Long-term debt 111,125 Net fixed assets 308,000 Common equity 641,375 Total assets $875,000 Total liabilities and equity $875,000 The new owner thinks that inventories are excessive and can be lowered...
RETURN ON EQUITY AND QUICK RATIO Lloyd Inc. has sales of $350,000, a net income of...
RETURN ON EQUITY AND QUICK RATIO Lloyd Inc. has sales of $350,000, a net income of $31,500, and the following balance sheet: Cash $64,400 Accounts payable $45,360 Receivables 76,720 Notes payable to bank 23,520 Inventories 330,400 Total current liabilities $68,880 Total current assets $471,520 Long-term debt 77,840 Net fixed assets 88,480 Common equity 413,280 Total assets $560,000 Total liabilities and equity $560,000 The new owner thinks that inventories are excessive and can be lowered...
Return on Equity and Quick Ratio Lloyd Inc. has sales of $350,000, a net income of...
Return on Equity and Quick Ratio Lloyd Inc. has sales of $350,000, a net income of $42,000, and the following balance sheet: Cash Receivables Inventories Net fixed assets Total assets The new owner thinks that inventories are excessive and can be lowered to the point where the current ratio is equal to the industry average, 2.25x, without affecting sales or net income a. If inventories are sold and not replaced (thus reducing the current ratio to 2.25x), if the funds...
eBook Problem Walk-Through Lloyd Inc. has sales of $350,000, a net income of $35,000, and the...
eBook Problem Walk-Through Lloyd Inc. has sales of $350,000, a net income of $35,000, and the following balance sheet: Cash $50,750 Accounts payable $97,440 Receivables 194,880 Notes payable to bank 78,155 Inventories 578,550 Total current liabilities $175,595 Total current assets $824,180 Long-term debt 153,265 Net fixed assets 190,820 Common equity 686,140 Total assets $1,015,000 Total liabilities and equity $1,015,000 The new owner thinks that inventories are excessive and can be lowered to the point where the current ratio is equal...
Lloyd Inc. has sales of $400,000, a net income of $24,000, and the following balance sheet:...
Lloyd Inc. has sales of $400,000, a net income of $24,000, and the following balance sheet: Cash $ 72,960 Accounts payable $ 99,840 Receivables 155,520 Notes payable to bank 71,040 Inventories 345,600 Total current liabilities $170,880 Total current assets $574,080 Long-term debe 167,040 Net fixed assets 385,920 Common equity 622,080 Total assets $960,000 Total liabilities and equity $960,000 The new owner thinks that inventories are excessive and can be lowered to the point where the current ratio is equal to...
Lloyd Inc. has sales of $450,000, a net income of $45,000, and the following balance sheet:...
Lloyd Inc. has sales of $450,000, a net income of $45,000, and the following balance sheet: Cash $67,500 Accounts payable $60,075 Receivables 124,200 Notes payable to bank 39,150 Inventories 330,750 Total current liabilities $99,225 Total current assets $522,450 Long-term debt 84,375 Net fixed assets 152,550 Common equity 491,400 Total assets $675,000 Total liabilities and equity $675,000 The new owner thinks that inventories are excessive and can be lowered to the point where the current ratio is equal to the industry...
Lloyd Inc. has sales of $150,000, a net income of $10,500, and the following balance sheet:...
Lloyd Inc. has sales of $150,000, a net income of $10,500, and the following balance sheet: Cash $42,000 Accounts payable $38,250 Receivables 60,000 Notes payable to bank 20,625 Inventories 172,500 Total current liabilities $58,875 Total current assets $274,500 Long-term debt 49,500 Net fixed assets 100,500 Common equity 266,625 Total assets $375,000 Total liabilities and equity $375,000 The new owner thinks that inventories are excessive and can be lowered to the point where the current ratio is equal to the industry...
eBook Problem Walk-Through Lloyd Inc. has sales of $100,000, a net income of $7,000, and the...
eBook Problem Walk-Through Lloyd Inc. has sales of $100,000, a net income of $7,000, and the following balance sheet: Cash $ 17,400 Accounts payable $ 31,030 Receivables 49,010 Notes payable to bank 15,950 Inventories 130,500 Total current liabilities $ 46,980 Total current assets $196,910 Long-term debt 48,140 Net fixed assets 93,090 Common equity 194,880 Total assets $ 290,000 Total liabilities and equity $ 290,000 The new owner thinks that inventories are excessive and can be lowered to the point where...
Compute the (1) current ratio and the (2) quick ratio for Nikey, Inc. using the following...
Compute the (1) current ratio and the (2) quick ratio for Nikey, Inc. using the following excerpt from the balance sheet reported in a recent financial statement of Nikey, Inc. At May 31 (in millions) 2020 Current assets Cash and equivalents $6,934 Short-term investments 3,730 Accounts receivable, net 6,044 Inventories 7,807 Deferred income taxes 700 Prepaid expenses and other current assets 3,542 Total current assets $28,757 Current liabilities Current portion of long-term debt $182 Notes payable 126 Accounts payable 3,623...
Long-term debt ratio Times interest earned Current ratio Quick ratio Cash ratio Inventory turnover Average collection...
Long-term debt ratio Times interest earned Current ratio Quick ratio Cash ratio Inventory turnover Average collection period 0.6 5.0 73 days Use the above information from the tables to work out the following missing entries, and then calculate the company's return on equity. Note: Turnover and the average collection period are calculated using start-of-year, not average, values. (Enter your answers in millions. Round intermediate calculations and final answers to 2 decimal places.) INCOME STATEMENT (Figures in $ millions) Net sales...
Return on Equity and Quick Ratio Lloyd Inc. has sales of $350,000, a net income of $42,000, and the following balance sheet: Cash Receivables Inventories Net fixed assets Total assets The new owner thinks that inventories are excessive and can be lowered to the point where the current ratio is equal to the industry average, 2.25x, without affecting sales or net income a. If inventories are sold and not replaced (thus reducing the current ratio to 2.25x), if the funds...
eBook Problem Walk-Through Lloyd Inc. has sales of $350,000, a net income of $35,000, and the following balance sheet: Cash $50,750 Accounts payable $97,440 Receivables 194,880 Notes payable to bank 78,155 Inventories 578,550 Total current liabilities $175,595 Total current assets $824,180 Long-term debt 153,265 Net fixed assets 190,820 Common equity 686,140 Total assets $1,015,000 Total liabilities and equity $1,015,000 The new owner thinks that inventories are excessive and can be lowered to the point where the current ratio is equal...
Lloyd Inc. has sales of $400,000, a net income of $24,000, and the following balance sheet: Cash $ 72,960 Accounts payable $ 99,840 Receivables 155,520 Notes payable to bank 71,040 Inventories 345,600 Total current liabilities $170,880 Total current assets $574,080 Long-term debe 167,040 Net fixed assets 385,920 Common equity 622,080 Total assets $960,000 Total liabilities and equity $960,000 The new owner thinks that inventories are excessive and can be lowered to the point where the current ratio is equal to...
eBook Problem Walk-Through Lloyd Inc. has sales of $100,000, a net income of $7,000, and the following balance sheet: Cash $ 17,400 Accounts payable $ 31,030 Receivables 49,010 Notes payable to bank 15,950 Inventories 130,500 Total current liabilities $ 46,980 Total current assets $196,910 Long-term debt 48,140 Net fixed assets 93,090 Common equity 194,880 Total assets $ 290,000 Total liabilities and equity $ 290,000 The new owner thinks that inventories are excessive and can be lowered to the point where...
Compute the (1) current ratio and the (2) quick ratio for Nikey, Inc. using the following excerpt from the balance sheet reported in a recent financial statement of Nikey, Inc. At May 31 (in millions) 2020 Current assets Cash and equivalents $6,934 Short-term investments 3,730 Accounts receivable, net 6,044 Inventories 7,807 Deferred income taxes 700 Prepaid expenses and other current assets 3,542 Total current assets $28,757 Current liabilities Current portion of long-term debt $182 Notes payable 126 Accounts payable 3,623...
Long-term debt ratio Times interest earned Current ratio Quick ratio Cash ratio Inventory turnover Average collection period 0.6 5.0 73 days Use the above information from the tables to work out the following missing entries, and then calculate the company's return on equity. Note: Turnover and the average collection period are calculated using start-of-year, not average, values. (Enter your answers in millions. Round intermediate calculations and final answers to 2 decimal places.) INCOME STATEMENT (Figures in $ millions) Net sales...
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