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1. 2. Portions of the financial statements for Peach Computer are provided below. PEACH COMPUTER Income Statement For the year ended December 31, 2021 Net
1.2.
Portions of the financial statements for Peach Computer are provided below. PEACH COMPUTER Income Statement For the year ended December 31, 2021 Net sales $1,775,000 Expenses: Cost of goods sold $1,040,000 Operating expenses 550,000 Depreciation expense 49,000 Income tax expense 39,000 Total expenses 1,678,000 Net income $ 97,000 PEACH COMPUTER Selected Balance Sheet Data December 31 Increase (I) or Cash Accounts receivable Inventory Prepaid rent Accounts payable Income tax payable 2021 $ 101,000 46,100 74,000 2,900 44,000 4,900 2020 $84,500 49,500 54,500 4,800 36,500 9,500 Decrease (D) $16,500 (I) 3,400 (D) 19,500 (I) 1,900 (D) 7,500 (I) 4,600 (D) Required: Prepare the operating activities section of the statement of cash flows for Peach Computer using the indirect method. (List cash outflows and any decrease in cash as negative amounts.) PEACH COMPUTER Statement of Cash Flows (partial) For the Year Ended December 31, 2021 Cash flows from operating activities: Adjustments to reconcile net income to net cash flows from operating activities: Net cash flows from operating activities Zoogle has the following selected data ($ in millions): (Round your answers to 2 decimal place. Enter your answers in millions (i.e., $10,110,000 should be entered as 10.11).) Net sales Net income Operating cash flows Total assets, beginning Total assets, ending $ 22,751 6,430 9,307 22,768 31,497 Required: 1. Calculate the return on assets. ($ in millions) Return on Assets Zoogle 2. Calculate the cash return on assets. ($ in millions) Cash Return on Assets Zoogle 3. Calculate the cash flow to sales ratio and the asset turnover ratio. ($ in millions) Cash Flow to Sales Zoogle - ($ in millions) Asset Turnover Zoogle timesStep by Step Solution
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