Homework Answers
(a) Asset turnover = Net sales / Average assets = $75.49 million / [($13.58 million + $19.40 million) / 2] = 4.6 times
(b) Profit margin = Net income / Net sales = $13.83 million / $75.49 million = 18.3%
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Brief Exercise 14-10 Linebarger Corporation has net income of $13.83 million and net revenue of $75.49...
Exercise 14-11 The following selected information is for Macaron Corporation: Total assets Total shareholders' equity Net...
Exercise 14-11 The following selected information is for Macaron Corporation: Total assets Total shareholders' equity Net sales Cost of goods sold Net income 2018 $353,000 134,500 501,000 365,000 33,400 2017 $281,000 100,000 402,000 287,000 29,700 2016 $272,000 51,500 302,000 185,000 20,300 Macaron had no preferred shares. x Your answer is incorrect. Try again. Calculate the gross profit margin, profit margin, asset turnover, return on assets, and return on common shareholders' equity ratios for 2018 and 2017. 2.6. Round asset turnover...
Your answer is incorrect Staples, Inc. is one of the largest suppliers of office products in...
Your answer is incorrect Staples, Inc. is one of the largest suppliers of office products in the United States. Suppose it had net income of $620 million and sales of $23,401 million in 2017. Its total assets were $12,700 million at the beginning of the year and $13,850 million at the end of the year. What is Staples, Inc's (a) asset turnover and (b) profit margin? (Round asset turnover to 2 decimal places, e.g. 1.25 and profit margin to 1...
Brief Exercise 220 Selected data for Buechner Corporation appear below. 2017 2016 Net credit sales $630,000...
Brief Exercise 220 Selected data for Buechner Corporation appear below. 2017 2016 Net credit sales $630,000 $520,000 Cost of goods sold 409,500 312,000 Inventory at the end of year 64,000 85,000 Accounts receivable at end of year 90,000 50,000 Compute gross profit percentage for 2017. (Round answer to 0 decimal places, e.g. 25%) Gross profit percentage Compute the inventory turnover for 2017. (Round answer to 1 decimal place, e.g. 5.1) times Inventory turnover Compute accounts receivable turnover for 2017. (Round...
Staples, Inc. is one of the largest suppliers of office products in the United States. Suppose...
Staples, Inc. is one of the largest suppliers of office products
in the United States. Suppose it had net income of $738.72 million
and sales of $23,085.0 million in 2019. Its total assets were
$12,000 million at the beginning of the year and $15,000 million at
the end of the year. What is Staples, Inc.’s (a) asset turnover and
(b) profit margin?
CALCULATOR FULL SCREEN PRINTER VERSION BACK NEXT Brief Exercise 13-13 * Your answer is incorrect. Try again. Staples,...
Staples, Inc. is one of the largest suppliers of office products in the United States. Suppose...
Staples, Inc. is one of the largest suppliers of office products in the United States. Suppose it had net income of $933 million and sales of $23,301 million in 2017. Its total assets were $13,101 million at the beginning of the year and $13,950 million at the end of the year. What is Staples, Inc's (a) asset turnover and (b) profit margin? (Round asset turnover to 2 decimal places, e.g. 1.25 and profit margin to 1 decimal place, e.g. 2.5%.)...
Brief Exercise 4-17 (Algo) Profitability ratios (LO4-10] The 2021 income statement for Anderson TV and Appliance...
Brief Exercise 4-17 (Algo) Profitability ratios (LO4-10] The 2021 income statement for Anderson TV and Appliance reported net sales of $260,000 and net income of $95,000. Average total assets for 2021 was $650,000. Shareholders' equity at the beginning of the year was $350,000 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...
Brief Exercise 5-10 In 2018, Modder Corporation reported net sales of $250,000, cost of goods sold...
Brief Exercise 5-10 In 2018, Modder Corporation reported net sales of $250,000, cost of goods sold of $137,500, operating expenses of $50,000, and income tax expense of $20,000. In 2017, it reported net sales of $200,000, cost of goods sold of $114,000, operating expenses of $40,000, other revenu $10,000, and income tax expense of $15,000. Calculate the gross profit and net income for each year. 2018 2017 Gross profit $ Net income Calculate the gross profit margin and profit margin...
Exercise 14-7 Frizell Company has the following comparative balance sheet data. FRIZELL COMPANY Balance Sheets December...
Exercise 14-7 Frizell Company has the following comparative balance sheet data. FRIZELL COMPANY Balance Sheets December 31 2017 2016 Cash $15,100 29,700 Accounts receivable (net) 70,300 59,000 Inventory 60,900 49,300 Plant assets (net) 195,000 178,500 $341,300 $316,500 Accounts payable $50,600 $60,900 Mortgage payable (6%) Common stock, $10 par 101,500 101,500 144,000 118,500 Retained earnings 45,200 35,600 $341,300 $316,500 Additional information for 2017 Net income was $25,800. 1 Sales on account were $407,000. Sales returns and allowances were $20,700. 2. Cost...
Exercise 13-10 Efficiency and profitability analysis LO P3 [The following information applies to the questions displayed...
Exercise 13-10 Efficiency and profitability analysis LO P3
[The following information applies to the questions
displayed below.]
Simon Company’s year-end balance sheets follow.
At December 31 2017 2016 2015 Assets Cash $32,200 $ 36,250 $ 38,000 63,000 82,000 9,450 251,000 Accounts receivable, net Merchandise inventory Prepaid expenses Plant assets, net 89,700 113,000 10,300 50,500 55,000 5,400 282,000 229,000 $527,200 $441,700 $377,900 Total assets Liabilities and Equity Accounts payable Long-term notes payable secured by mortgages on plant assets Common stock, $10...
Exercise 18-10 Suppose selected comparative statement data for the giant bookseller Barnes & Noble are presented...
Exercise 18-10 Suppose selected comparative statement data for the giant bookseller Barnes & Noble are presented here. All balance sheet data are as of the end of the fiscal year (in millions) 2020 2019 Net sales Cost of goods sold Net income Accounts receivable Inventory Total assets Total common stockholders' equity $5,600 3,637 147 109 1,239 3,170 980 $4,800 3,888 1,314 2,830 994 Compute the following ratios for 2020. (Round asset turnover to 2 decimal places, e.g. 1.67. Round all...
Exercise 14-11 The following selected information is for Macaron Corporation: Total assets Total shareholders' equity Net sales Cost of goods sold Net income 2018 $353,000 134,500 501,000 365,000 33,400 2017 $281,000 100,000 402,000 287,000 29,700 2016 $272,000 51,500 302,000 185,000 20,300 Macaron had no preferred shares. x Your answer is incorrect. Try again. Calculate the gross profit margin, profit margin, asset turnover, return on assets, and return on common shareholders' equity ratios for 2018 and 2017. 2.6. Round asset turnover...
Your answer is incorrect Staples, Inc. is one of the largest suppliers of office products in the United States. Suppose it had net income of $620 million and sales of $23,401 million in 2017. Its total assets were $12,700 million at the beginning of the year and $13,850 million at the end of the year. What is Staples, Inc's (a) asset turnover and (b) profit margin? (Round asset turnover to 2 decimal places, e.g. 1.25 and profit margin to 1...
Brief Exercise 220 Selected data for Buechner Corporation appear below. 2017 2016 Net credit sales $630,000 $520,000 Cost of goods sold 409,500 312,000 Inventory at the end of year 64,000 85,000 Accounts receivable at end of year 90,000 50,000 Compute gross profit percentage for 2017. (Round answer to 0 decimal places, e.g. 25%) Gross profit percentage Compute the inventory turnover for 2017. (Round answer to 1 decimal place, e.g. 5.1) times Inventory turnover Compute accounts receivable turnover for 2017. (Round...
Staples, Inc. is one of the largest suppliers of office products
in the United States. Suppose it had net income of $738.72 million
and sales of $23,085.0 million in 2019. Its total assets were
$12,000 million at the beginning of the year and $15,000 million at
the end of the year. What is Staples, Inc.’s (a) asset turnover and
(b) profit margin?
CALCULATOR FULL SCREEN PRINTER VERSION BACK NEXT Brief Exercise 13-13 * Your answer is incorrect. Try again. Staples,...
Staples, Inc. is one of the largest suppliers of office products in the United States. Suppose it had net income of $933 million and sales of $23,301 million in 2017. Its total assets were $13,101 million at the beginning of the year and $13,950 million at the end of the year. What is Staples, Inc's (a) asset turnover and (b) profit margin? (Round asset turnover to 2 decimal places, e.g. 1.25 and profit margin to 1 decimal place, e.g. 2.5%.)...
Brief Exercise 4-17 (Algo) Profitability ratios (LO4-10] The 2021 income statement for Anderson TV and Appliance reported net sales of $260,000 and net income of $95,000. Average total assets for 2021 was $650,000. Shareholders' equity at the beginning of the year was $350,000 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...
Brief Exercise 5-10 In 2018, Modder Corporation reported net sales of $250,000, cost of goods sold of $137,500, operating expenses of $50,000, and income tax expense of $20,000. In 2017, it reported net sales of $200,000, cost of goods sold of $114,000, operating expenses of $40,000, other revenu $10,000, and income tax expense of $15,000. Calculate the gross profit and net income for each year. 2018 2017 Gross profit $ Net income Calculate the gross profit margin and profit margin...
Exercise 14-7 Frizell Company has the following comparative balance sheet data. FRIZELL COMPANY Balance Sheets December 31 2017 2016 Cash $15,100 29,700 Accounts receivable (net) 70,300 59,000 Inventory 60,900 49,300 Plant assets (net) 195,000 178,500 $341,300 $316,500 Accounts payable $50,600 $60,900 Mortgage payable (6%) Common stock, $10 par 101,500 101,500 144,000 118,500 Retained earnings 45,200 35,600 $341,300 $316,500 Additional information for 2017 Net income was $25,800. 1 Sales on account were $407,000. Sales returns and allowances were $20,700. 2. Cost...
Exercise 13-10 Efficiency and profitability analysis LO P3
[The following information applies to the questions
displayed below.]
Simon Company’s year-end balance sheets follow.
At December 31 2017 2016 2015 Assets Cash $32,200 $ 36,250 $ 38,000 63,000 82,000 9,450 251,000 Accounts receivable, net Merchandise inventory Prepaid expenses Plant assets, net 89,700 113,000 10,300 50,500 55,000 5,400 282,000 229,000 $527,200 $441,700 $377,900 Total assets Liabilities and Equity Accounts payable Long-term notes payable secured by mortgages on plant assets Common stock, $10...
Exercise 18-10 Suppose selected comparative statement data for the giant bookseller Barnes & Noble are presented here. All balance sheet data are as of the end of the fiscal year (in millions) 2020 2019 Net sales Cost of goods sold Net income Accounts receivable Inventory Total assets Total common stockholders' equity $5,600 3,637 147 109 1,239 3,170 980 $4,800 3,888 1,314 2,830 994 Compute the following ratios for 2020. (Round asset turnover to 2 decimal places, e.g. 1.67. Round all...
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