Homework Answers
| Answer: | |
| 1) | |
|
Assets turnover = Net Sales / Average Total assets = $ 1,500,000 / ( $ 800,000 + $ 900,000 ) / 2 = $ 1,500,000 / $ 850,000 |
1.76 times |
| 2) | |
|
Profit Margin = Net Income / Net Sales = $ 205,000 / $ 1,500,000 |
13.7% |
| 3) | |
|
Return on Assets = Net Income / Average Total assets = $ 205,,000 / ( $ 800,000 + $ 900,000 ) / 2 = $ 205,000 / $ 850,000 |
24.1% |
| 4) | |
|
Return on common Stockholder's
equity = Net Income / Average Stockholder's equity = $ 205,,000 / ( $ 500,000 + $ 600,000 ) / 2 = $ 205,000 / $ 550,000 |
37.3% |
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Selected financial statement data for Homer Company are presented below. Net sales Cost of goods sold...
Question 2 of 3 View Policies Current Attempt in Progress Selected financial statement data for Homer...
Question 2 of 3 View Policies Current Attempt in Progress Selected financial statement data for Homer Company are presented below. Net sales Cost of goods sold Interest expense Net income Total assets (ending) Total common stockholders' equity (ending) $1,500,000 700,000 10,000 205,000 900,000 600,000 Total assets at the beginning of the year were $800,000; total common stockholders' equity was $500,000 at the beginning of the period. Calculate asset turnover. (Round answer to 2 decimal placea, e.g. 15.21%) Asset turnover -...
Brief Exercise 222 Selected data from the Florida Fruit Company are presented below: Total assets Average...
Brief Exercise 222 Selected data from the Florida Fruit Company are presented below: Total assets Average total assets Net income Net sales Average common stockholders' equity Net cash provided by operating activities $1,500,000 1,850,000 175,000 1,300,000 1,000,000 275,000 Assuming that no dividends were declared or paid during the period. Calculate the profit margin. (Round answer to 1 decimal place, e.g. 15.2%.) Profit margin Compute asset turnover. (Round answer to 2 decimal places, e.g. 0.25.) times Asset turnover Compute return on...
Total assets Total shareholders' equity Net sales Cost of goods sold Net income 2018 $357,000 136,000...
Total assets Total shareholders' equity Net sales Cost of goods sold Net income 2018 $357,000 136,000 503,000 379,000 32,700 2017 $285,000 97,500 394,000 277,000 29,800 2016 $267,000 48,500 297,000 181,000 20,400 Macaron had no preferred shares. Your answer is partially correct. Try again. Calculate the gross profit margin, profit margin, asset turnover, return on assets, and return an common shareholders' equity ratios for 2018 and 2017. (Round gross profit margin, profit margin, return on assets and return on equity to...
Suppose selected financial data of Target and Wal-Mart for 2020 are presented here (in millions). Net...
Suppose selected financial data of Target and Wal-Mart for 2020 are presented here (in millions). Net sales Cost of goods sold Selling and administrative expenses Interest expense Other income (expense) Income tax expense Target Wal-Mart Corporation Stores, Inc. Income Statement Data for Year $65,357 $408,214 45,583 304,657 15,101 79,607 707 2,065 (94) (411) 1,384 7,139 $ 2.488 $ 14,335 Net income Current assets Noncurrent assets Total assets Current liabilities Balance Sheet Data (End of Year) $18.424 $48.331 26.109 122.375 $44,533...
Suppose selected comparative statement data for the giant bookseller Barnes & Noble are presented here. All...
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 $5,400 $4,900 Cost of goods sold 3,294 3,492 Net income 70 138 Accounts receivable 87 112 Inventory 1,181 1,349 Total assets 3,000 3,750 Total common stockholders’ equity 913 1,084 Compute the following ratios for 2020. (Round asset turnover to 2 decimal places, e.g. 1.67. Round all...
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 9-10 Suppose selected comparative statement data for the giant bookseller Barnes & Noble are presented...
*Exercise 9-10 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). Net sales Cost of goods sold Net income Accounts receivable Inventory Total assets Total common stockholders' equity 2017 $5,121.8 3,540.6 75.9 81.0 1,203.5 2,993.9 921.6 2016 $5,286.7 3,679.8 135.8 107.1 1,358.2 3,249.8 1,074.7 Compute the following ratios for 2017. (Round asset turnover to 2 decimal places, e.g 1.83...
Exercise 13-10 Suppose selected comparative statement data for the giant bookseller Barnes & Noble are presented...
Exercise 13-10 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). Net sales Cost of goods sold Net income 2019 $4,950 3,701 2018 $5,601 3,801 65 161 Accounts receivable Inventory 75 1,150 2,950 880 104 1,250 3,150 1,080 Total assets Total common stockholders' equity Compute the following ratios for 2019. (Round asset turnover to 2 decimal places, e.g 1.83...
Wal-Mart Stores, Inc. Target Corporation Income Statement Data for Year Net sales Cost of goods s...
Wal-Mart Stores, Inc. Target Corporation Income Statement Data for Year Net sales Cost of goods sold Selling and administrative expenses Interest expense Other income (expense) Income tax expense Net income $65,300 45,000 14,000 660 $417,000 301,000 79,000 1,800 (85) (380) 1,500 4,055 7,100 $27,720 Balance Sheet Data (End of Year) Current assets Noncurrent assets Total assets Current liabilities Long-term debt Total stockholders' equity Total liabilities and stockholders $16,000 27.400 $43,400 $11,000 17,800 14,600 $50,000 121,000 $171,000 $54,000 43,000 74,000 $171,000...
2018 2017 Income Statement Information Sales revenue Cost of goods sold Net income $ $ 10,440,000...
2018 2017 Income Statement Information Sales revenue Cost of goods sold Net income $ $ 10,440,000 6,827,760 360,000 8,400,000 5,900,000 248,000 Balance Sheet Information Current assets Long-term assets $ 1,600,000 2,200,000 $ 1,500,000 1,900,000 Total assets $ 3,800,000 $ 3,400,000 $ Current liabilities Long-term liabilities Common stock Retained earnings 1.200,000 1,500,000 800,000 300,000 900.000 1,500,000 800,000 200,000 Total liabilities and stockholders' equity 3,800,000 $ 3,400,000 Required: 1. Calculate the following profitability ratios for 2018 (Round your answers to 1 decimal...
Question 2 of 3 View Policies Current Attempt in Progress Selected financial statement data for Homer Company are presented below. Net sales Cost of goods sold Interest expense Net income Total assets (ending) Total common stockholders' equity (ending) $1,500,000 700,000 10,000 205,000 900,000 600,000 Total assets at the beginning of the year were $800,000; total common stockholders' equity was $500,000 at the beginning of the period. Calculate asset turnover. (Round answer to 2 decimal placea, e.g. 15.21%) Asset turnover -...
Brief Exercise 222 Selected data from the Florida Fruit Company are presented below: Total assets Average total assets Net income Net sales Average common stockholders' equity Net cash provided by operating activities $1,500,000 1,850,000 175,000 1,300,000 1,000,000 275,000 Assuming that no dividends were declared or paid during the period. Calculate the profit margin. (Round answer to 1 decimal place, e.g. 15.2%.) Profit margin Compute asset turnover. (Round answer to 2 decimal places, e.g. 0.25.) times Asset turnover Compute return on...
Total assets Total shareholders' equity Net sales Cost of goods sold Net income 2018 $357,000 136,000 503,000 379,000 32,700 2017 $285,000 97,500 394,000 277,000 29,800 2016 $267,000 48,500 297,000 181,000 20,400 Macaron had no preferred shares. Your answer is partially correct. Try again. Calculate the gross profit margin, profit margin, asset turnover, return on assets, and return an common shareholders' equity ratios for 2018 and 2017. (Round gross profit margin, profit margin, return on assets and return on equity to...
Suppose selected financial data of Target and Wal-Mart for 2020 are presented here (in millions). Net sales Cost of goods sold Selling and administrative expenses Interest expense Other income (expense) Income tax expense Target Wal-Mart Corporation Stores, Inc. Income Statement Data for Year $65,357 $408,214 45,583 304,657 15,101 79,607 707 2,065 (94) (411) 1,384 7,139 $ 2.488 $ 14,335 Net income Current assets Noncurrent assets Total assets Current liabilities Balance Sheet Data (End of Year) $18.424 $48.331 26.109 122.375 $44,533...
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 9-10 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). Net sales Cost of goods sold Net income Accounts receivable Inventory Total assets Total common stockholders' equity 2017 $5,121.8 3,540.6 75.9 81.0 1,203.5 2,993.9 921.6 2016 $5,286.7 3,679.8 135.8 107.1 1,358.2 3,249.8 1,074.7 Compute the following ratios for 2017. (Round asset turnover to 2 decimal places, e.g 1.83...
Exercise 13-10 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). Net sales Cost of goods sold Net income 2019 $4,950 3,701 2018 $5,601 3,801 65 161 Accounts receivable Inventory 75 1,150 2,950 880 104 1,250 3,150 1,080 Total assets Total common stockholders' equity Compute the following ratios for 2019. (Round asset turnover to 2 decimal places, e.g 1.83...
Wal-Mart Stores, Inc. Target Corporation Income Statement Data for Year Net sales Cost of goods sold Selling and administrative expenses Interest expense Other income (expense) Income tax expense Net income $65,300 45,000 14,000 660 $417,000 301,000 79,000 1,800 (85) (380) 1,500 4,055 7,100 $27,720 Balance Sheet Data (End of Year) Current assets Noncurrent assets Total assets Current liabilities Long-term debt Total stockholders' equity Total liabilities and stockholders $16,000 27.400 $43,400 $11,000 17,800 14,600 $50,000 121,000 $171,000 $54,000 43,000 74,000 $171,000...
2018 2017 Income Statement Information Sales revenue Cost of goods sold Net income $ $ 10,440,000 6,827,760 360,000 8,400,000 5,900,000 248,000 Balance Sheet Information Current assets Long-term assets $ 1,600,000 2,200,000 $ 1,500,000 1,900,000 Total assets $ 3,800,000 $ 3,400,000 $ Current liabilities Long-term liabilities Common stock Retained earnings 1.200,000 1,500,000 800,000 300,000 900.000 1,500,000 800,000 200,000 Total liabilities and stockholders' equity 3,800,000 $ 3,400,000 Required: 1. Calculate the following profitability ratios for 2018 (Round your answers to 1 decimal...
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