Flask Company reports net sales of $2,940 million; cost of goods sold of $2,680 million; net...
Flask Company reports net sales of $2,940 million; cost of goods sold of $2,680 million; net income of $540 million; and average total assets of $2,520 million. Compute its total asset turnover.
Homework Answers
Total asset turnover=Sales/Total assets
=(2940/2520)
which is equal to
=1.167(Approx).
Add Answer to:
Flask Company reports net sales of $2,940 million; cost of goods
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The 2021 income statement of Anderson Medical Supply Company reported net sales of $10 million, cost...
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The 2021 income statement of Anderson Medical Supply Company
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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:...
Following is an incomplete current year income statement Determine Net Sales, Cost of goods sold and...
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Edison Co, reported the following for the current year Net sales Cost of goods sold Net...
Edison Co, reported the following for the current year Net sales Cost of goods sold Net income Beginning balance of total assets Ending balance of total assets $90,000 $65,000 $23,400 $75,000 $81,000 Compute (a) profit margin and (b) return on total assets Complete this question by entering your answers in the tabs below. Profit Margin Ratio Return On Total Assets Compute the profit margin ratio. Choose Numerator: Profit Margin Ratio Choose Denominator - = Profit Margin Ratio Profit margin ratio...
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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 $6.0 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...
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Following is an incomplete current-year income statement. Determine Net Sales, Cost of goods sold and Net Income. Additional information follows: • Return on total assets is 14% (average total assets is $81,000). • Inventory turnover is 6 (average inventory is $6,200). • Accounts receivable turnover is 9 (average accounts receivable is $7,200). Income Statement Net sales Cost of goods sold Selling, general, and administrative expenses Income tax expense Net income 8,300 3,300
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:...
Following is an incomplete current year income statement Determine Net Sales, Cost of goods sold and Net Income. Additional information follows: • Return on total assets is 15% (average total assets is $78,000). • Inventory turnover is 5 (average inventory is $5,900) • Accounts receivable turnover is 8 (average accounts receivable is $6,900). Income Statement Net sales Cost of goods sold Selling, general, and administrative expenses Income tax expense Net income 8,000 3,000
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