During 2017, Whispering Winds Corp. reported net sales of $2550000, net income of $1270000, and depreciation...
During 2017, Whispering Winds Corp. reported net sales of $2550000, net income of $1270000, and depreciation expense of $120000. Whispering Winds also reported beginning total assets of $1130000, ending total assets of $1340000, plant assets of $1200000, and accumulated depreciation of $900000. Whispering Winds’s asset turnover (rounded) is
|
2.06 times. |
|
1.90 times. |
|
1.10 times. |
|
1.10 times. |
Homework Answers
Average assets = (1130000+1340000/2) = 1235000
Asset turnover = Net sales/Average assets
= 2550000/1235000
Assets turnover = 2.06
So answer is a) 2.06 Times
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During 2017, Whispering Winds Corp. reported net sales of
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Multiple Choice Question 167
Whispering Winds Corp. had the following records:
2017
2016
Ending inventory
$31950
$29290
Cost of goods sold
209600
210040
What is Whispering inventory turnover ratio for 2017?
(rounded)
6.6 times
7.2 times
6.9 times
6.8 times
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Multiple Choice Question 167
Whispering Winds Corp. had the following records:
2017
2016
Ending inventory
$31950
$29290
Cost of goods sold
209600
210040
What is Whispering inventory turnover ratio for 2017?
(rounded)
6.6 times
7.2 times
6.9 times
6.8 times
These items are taken from the financial statements of Whispering Winds Corp. at December 31, 2017. $103,684 12,348 3,136 11,603 80,752 59,976 764 Buildings Accounts receivable Prepaid insurance Cash Equipment Land Insurance expense Depreciation expense Interest expense Common stock Retained earnings (January 1, 2017) Accumulated depreciation-buildings Accounts payable Notes payable Accumulated depreciation equipment Interest payable Service revenue 5,194 2,548 58,800 39,199 44,688 9,310 91,728 18,346 3,528 14,406 Prepare a classified balance sheet. Assume that $13,328 of the note payable will...
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Whispering Winds Corp. had net income of $1618000 and paid dividends to common stockholders of $404500 in 2022. The weighted average number of shares outstanding in 2022 was 566300 shares. Whispering Winds Corp.common stock is selling for $30 per share on the NASDAQ. Whispering Winds Corp.price-earnings ratio is 10.5 times. 8.0 times. 2.9 times. 4.0 times.
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