Question

The following is a list of account titles and amounts (in millions) reported at December 27, 2015, by Hashey, Inc. a leading manufacturer of games, toys, and interactive entertainment software for children and families:

HASHEY, INC Balance Sheet (partial) December 27, 2015 (in millions) Assets Current Assets Cash and Cash Equivalents Accounts Receivable Allowance for Doubtful Accounts 0 Inventory Prepaids Total Current Assets Property, Plant, and Equipment Equipment Buildings Land 0 Property, Plant, and Equipment (at cost) Accumulated Depreciation 0 Total Property, Plant, and Equipment (net) Other Assets Licensing Rights Accumulated Amortization Goodwill 0 Total Other Assets 0 $ Total Assets

Accounts Receivable	$	1,138		Equipment	$	510
Accumulated Amortization		765		Goodwill		615
Accumulated Depreciation		520		Inventories		370
Allowance for Doubtful Accounts		47		Land		9
Buildings		260		Licensing Rights		1,855
Cash and Cash Equivalents		700		Prepaid Rent		375

Required:

1. Prepare the asset section of a classified balance sheet for Hashey, Inc.
2. Using Hasbro’s 2015 Net Sales Revenue of $4,550 (million), its Net Fixed Assets of $225 (million) at December 28, 2014, and its Net Fixed Assets computed at December 27, 2015, calculate the fixed asset turnover ratio for 2015.
3. Using Hashey’s 2015 Net Sales Revenue of $4,550 (million) and its Net Fixed Assets of $225 (million) at December 28, 2014, calculate the fixed asset turnover ratio for 2015. (Round your answer to 2 decimal places.)

Answer 1

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Hashey Inc.
Balance Sheet	$ Millions	$ Millions
Assets
Current Assets
Cash and Cash equivalents		700.00
Accounts Receivable	1,138.00
Allowance for Doubtful Accounts	(47.00)	1,091.00
Inventory		370.00
Prepaid		375.00
Total Current Assets		2,536.00
Plant Property & Equipment
Equipment		510.00
Building		260.00
Land		9.00
Plant Property & Equipment (at cost)		779.00
Accumulated Depreciation		(520.00)
Plant Property & Equipment (net)		259.00
Other Assets
Licensing rights		1,855.00
Accumulated Amortization		(765.00)
Goodwill		615.00
Total Other Assets		1,705.00
Total Assets		4,500.00
Fixed asset turnover ratio		2015	2014
Fixed assets		259.00	225
(This is Plant Property & Equipment (net)
Average Fixed assets		242.00
Net Sales Revenue		4,550.00
Fixed asset turnover ratio		18.80
Net Sales Revenue/ Average Fixed assets