Homework Answers
| FORMULA | CALCULATION | |
| working capital | current asset -current liabilities | 70100-15100=55000 |
| current ratio | current asset /current liabilities | 70100/15100= 4.64 |
| Quick ratio | [current asset -inventory -prepaid insurance]/current liability |
[70100-28177-900]/15100 41023/15100 2.72 |
| Return on owners equity | Net income /owners equity |
27800/104200 26.68 |
| Accounts receivable turnover | Net credit sales /Average accounts receivable |
182100/[(21600+18900)/2] 182100/20250 8.99 |
| Average number of days to collect receivables | 365*Average accounts receivable/net credit sales |
365*20250/182100 40.6 days |
| Inventory turnover | cost of goods sold /Inventory |
93200/28177 3.31 |
| Average number of days to sell inventory | 365* inventory /cost of goods sold |
365*28177/93200 110.3 days |
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explanation, just want to check my answer)
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Please give me an income statement,
statement of owner's equity, and balance sheet. (No need
explanation, just want to check my answer)
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