Waterway Industries reported the following data: 2020 2021 Sales $2980000 $4850000 Net Income 293000 391000 Assets...
Waterway Industries reported the following data: 2020 2021 Sales $2980000 $4850000 Net Income 293000 391000 Assets at year end 1810000 2460000 Liabilities at year end 1000000 1520000 What is Waterway’s asset turnover for 2021? 2.27 1.97 2.68 2.02
Homework Answers
Answer: Option (A) 2.27
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Waterway Industries reported the following data: 2020 2021 Sales
$2980000 $4850000 Net Income 293000 391000 Assets...
Ally's Company reported the following data: 2018 2019 Sales $3,000,000 $4,800,000 Net Income $300,000 $400,000 Assets...
Ally's Company reported the following data: 2018 2019 Sales $3,000,000 $4,800,000 Net Income $300,000 $400,000 Assets at year end $1,800,000 $2,500,000 Liabilities at year end $1,200,000 $1,700,000 What is Ally’s asset turnover for 2019? 1.97 1.92 2.23 2.67
The 2021 income statement of Anderson Medical Supply Company reported net sales of $11 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...
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...
The 2021 income statement of Anderson Medical Supply Company reported net sales of $10 million, cost...
The 2021 income statement of Anderson Medical Supply Company reported net sales of $10 million, cost of goods sold of $6.0 million, and net income of $860,000. The following table shows the company's comparative balance sheets for 2021 and 2020: ($ in thousands) 2021 2020 Assets Cash $ 540 $ 620 Accounts receivable 940 620 Inventory 1,500 910 Property, plant, and equipment (net) 3,600 3,320 Total assets $6,580 $5,470 Liabilities and shareholders' equity Current liabilities $1,280 $1,070 Bonds payable 1,800...
The 2021 income statement of Anderson Medical Supply Company reported net sales of $11 million, cost...
The 2021 income statement of Anderson Medical Supply Company reported net sales of $11 million, cost of goods sold of $5.4 million, and net income of $830,000. The following table shows the company's comparative balance sheets for 2021 and 2020: ($ in thousands) 2021 2020 $ 420 820 1,200 3,000 $5,440 $ 500 560 1,000 2,720 $4,780 Assets Cash Accounts receivable Inventory Property, plant, and equipment (net) Total assets Liabilities and shareholders' equity Current liabilities Bonds payable Common stock Retained...
The 2021 income statement of Anderson Medical Supply Company reported net sales of $9 million, cost...
The 2021 income statement of Anderson Medical Supply Company reported net sales of $9 million, cost of goods sold of $5.2 million, and net income of $820,000. The following table shows the company's comparative balance sheets for 2021 and 2020- ($ in thousands) 2021 2020 $ 380 789 1,100 2,800 $5,060 $ 460 540 900 2,520 $4,420 Assets Cash Accounts receivable Inventory Property, plant, and equipment (net) Total assets Liabilities and shareholders' equity Current liabilities Bonds payable Common stock Retained...
The 2021 income statement of Anderson Medical Supply Company reported net sales of $10 million, cost...
The 2021 income statement of Anderson Medical Supply Company reported net sales of $10 million, cost of goods sold of $6.6 million, and net income of $890,000. The following table shows the company's comparative balance sheets for 2021 E and 2020: ($ in thousands) 2021 2020 $ 660 1,060 1,300 4,200 $ 7,220 $ 740 680 1,210 3,920 $ 6,550 Assets Cash Accounts receivable Inventory Property, plant, and equipment (net) Total assets Liabilities and shareholders' equity Current liabilities Bonds payable...
Missoula Inc. reported the following selected financial statement data: Cash Accounts receivable (net) Inventory Plant assets...
Missoula Inc. reported the following selected financial statement data: Cash Accounts receivable (net) Inventory Plant assets (net) Total assets Liabilities Shareholders' equity Net sales Cost of goods sold Net income Dec 31, 2020 $ 36,000 54,000 74,000 216,000 423,000 151.000 272,000 346,000 401,000 26,000 Dec 31, 2021 $ 41,000 64,000 78,000 230,000 407,000 151,000 256,000 418,000 456,000 37,000 -53.12 Required: Compute the asset turnover ratio for 2021. Asset turnover ratio
The 2021 income statement for Anderson TV and Appliance reported net sales of $360,000 and net...
The 2021 income statement for Anderson TV and Appliance reported net sales of $360,000 and net income of $85,000. Average total assets for 2021 was $800,000. Shareholders’ equity at the beginning of the year was $500,000 and $40,000 was paid to shareholders as dividends. There were no other shareholders’ equity transactions that occurred during the year. Show the DuPont framework's calculation of the three components of the 2021 return on equity for Anderson TV and Appliance. Profit Margin (%) Choose...
Missoula Inc. reported the following selected financial statement data: Dec 31, 2020 Dec 31, 2021 Cash...
Missoula Inc. reported the following selected financial statement data: Dec 31, 2020 Dec 31, 2021 Cash $ 30,000 $ 32,000 Accounts receivable (net) 48,000 52,000 Inventory 68,000 72,000 Plant assets (net) 210,000 218,000 Total assets 405,000 395,000 Liabilities 145,000 145,000 Shareholders' equity 260,000 250,000 Net sales 340,000 400,000 Cost of goods sold 220,000 280,000 Net income 20,000 25,000 Required: Compute the asset turnover ratio for 2021.
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...
The 2021 income statement of Anderson Medical Supply Company reported net sales of $10 million, cost of goods sold of $6.0 million, and net income of $860,000. The following table shows the company's comparative balance sheets for 2021 and 2020: ($ in thousands) 2021 2020 Assets Cash $ 540 $ 620 Accounts receivable 940 620 Inventory 1,500 910 Property, plant, and equipment (net) 3,600 3,320 Total assets $6,580 $5,470 Liabilities and shareholders' equity Current liabilities $1,280 $1,070 Bonds payable 1,800...
The 2021 income statement of Anderson Medical Supply Company reported net sales of $11 million, cost of goods sold of $5.4 million, and net income of $830,000. The following table shows the company's comparative balance sheets for 2021 and 2020: ($ in thousands) 2021 2020 $ 420 820 1,200 3,000 $5,440 $ 500 560 1,000 2,720 $4,780 Assets Cash Accounts receivable Inventory Property, plant, and equipment (net) Total assets Liabilities and shareholders' equity Current liabilities Bonds payable Common stock Retained...
The 2021 income statement of Anderson Medical Supply Company reported net sales of $9 million, cost of goods sold of $5.2 million, and net income of $820,000. The following table shows the company's comparative balance sheets for 2021 and 2020- ($ in thousands) 2021 2020 $ 380 789 1,100 2,800 $5,060 $ 460 540 900 2,520 $4,420 Assets Cash Accounts receivable Inventory Property, plant, and equipment (net) Total assets Liabilities and shareholders' equity Current liabilities Bonds payable Common stock Retained...
The 2021 income statement of Anderson Medical Supply Company reported net sales of $10 million, cost of goods sold of $6.6 million, and net income of $890,000. The following table shows the company's comparative balance sheets for 2021 E and 2020: ($ in thousands) 2021 2020 $ 660 1,060 1,300 4,200 $ 7,220 $ 740 680 1,210 3,920 $ 6,550 Assets Cash Accounts receivable Inventory Property, plant, and equipment (net) Total assets Liabilities and shareholders' equity Current liabilities Bonds payable...
Missoula Inc. reported the following selected financial statement data: Cash Accounts receivable (net) Inventory Plant assets (net) Total assets Liabilities Shareholders' equity Net sales Cost of goods sold Net income Dec 31, 2020 $ 36,000 54,000 74,000 216,000 423,000 151.000 272,000 346,000 401,000 26,000 Dec 31, 2021 $ 41,000 64,000 78,000 230,000 407,000 151,000 256,000 418,000 456,000 37,000 -53.12 Required: Compute the asset turnover ratio for 2021. Asset turnover ratio
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