Assume that for the 2017 fiscal year, AstroCo reported sales revenue of $4.7 billion and cost...

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Assume that for the 2017 fiscal year, AstroCo reported sales revenue of $4.7 billion and cost of goods sold of $1.9 billion. Fiscal Year Balance Sheet (in millions) Cash Inventories 2017 2016 $ 104 $ 64 Accounts Receivable, less allowance of $20 and $20 515 427 274 238 20 15 422 379 120 73 50 62 B 60 244 222 Prepaid Expenses Other Current Assets Accounts Payable Income Tax Payable ok Wages Payable t Other Current Liabilities nices Assuming that all sales are on credit. Required: 1. Compute the current ratio for 2017. (Round your answer to 2 decimal places.) Current ratio 4 nts eBook Assuming that all sales are on credit. Required: 1. Compute the current ratio for 2017. (Round your answer to 2 decimal places.) Current ratio Help Save & Exin Print eferences 2. Compute the inventory turnover ratio and accounts receivable turnover ratio for 2017. (Round your answers to 2 decimal place.) Inventory turnover Accounts receivable turnover 3. Not available in Connect. times times 4 Check Assume that for the 2017 fiscal year, AstroCo reported sales revenue of $4.7 billion and cost of goods sold of $1.9 billion. Fiscal Year Balance Sheet (in millions) Cash Inventories 2017 2016 $ 104 $ 64 Accounts Receivable, less allowance of $20 and $20 515 427 274 238 20 15 422 379 120 73 50 62 B 60 244 222 Prepaid Expenses Other Current Assets Accounts Payable Income Tax Payable ok Wages Payable t Other Current Liabilities nices Assuming that all sales are on credit. Required: 1. Compute the current ratio for 2017. (Round your answer to 2 decimal places.) Current ratio 4 nts eBook Assuming that all sales are on credit. Required: 1. Compute the current ratio for 2017. (Round your answer to 2 decimal places.) Current ratio Help Save & Exin Print eferences 2. Compute the inventory turnover ratio and accounts receivable turnover ratio for 2017. (Round your answers to 2 decimal place.) Inventory turnover Accounts receivable turnover 3. Not available in Connect. times times 4 Check

Answer rating: 100% (QA)

To compute the requested financial ratios for AstroCo in 2017 well use the provided information 1 Current Ratio The current ratio is calculated by div... View the full answer