On its year-end financial statements, Caper Corporation showed sales of $3,000,000, net fixed assets of $1,300,000,...
- On its year-end financial statements, Caper Corporation showed sales of $3,000,000, net fixed assets of $1,300,000, and total assets of $2,000,000. What is the company’s fixed asset turnover?
Homework Answers
fixed asset turnover=sales/net fixed assets
=3,000,000/1,300,000
which is equal to
=2.31 (Approx).
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On its year-end financial statements, Caper Corporation showed
sales of $3,000,000, net fixed assets of $1,300,000,...
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sheet amounts at December 31 of the prior year were inventory,
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For Current Year Ended December 31
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Cost of goods sold
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Gross profit
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Operating expenses
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Interest expense
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Income tax expense
19,316
Net income
$
28,634
CABOT CORPORATION
Balance...
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Selected current year-end financial statements of Cabot
Corporation follow. (All sales were on credit; selected balance
sheet amounts at December 31 of the prior year were inventory,
$46,900; total assets, $219,400; common stock, $81,000; and
retained earnings, $38,566.)
CABOT CORPORATION
Income Statement
For Current Year Ended December 31
Sales
$
450,600
Cost of goods sold
298,450
Gross profit
152,150
Operating expenses
99,500
Interest expense
4,700
Income before taxes
47,950
Income tax expense
19,316
Net income
$
28,634
CABOT CORPORATION
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