6,5
Answers are in the results.
Can you just walk me through, step by step, how that number is derived, thanks!
*Course Hero X U ACCT 253v13: Go to Li x Ly Introduction to Financi Ly Lab 6.5 (Question 1) ~ X y! hotmail - Yahoo Canad X y merchandise turnover x What is an Income Sta X lifa1.lyryx.com/student-servlets/LabServlet?ccid=7845&lab=6005&singleQuestion=0&course=7845&ident=25731&command=answer + C Other Bookmarks Apps Home Your solution was: The following financial statements are for Velor Inc. Velor Inc. Velor Inc. Income Statement Balance Sheet For Years Ended December 31, 2014, 2013, and 2012 December 31, 2014, 2013, and 2012 2014 2013 2012 Asset 2014 2013 2012 1,717,600 1,494,000 1,408,400 92,800 104,800 93, 100 Cost of goods sold.. 792,500 792,500 759,500 Short-term investments... 26,000 25,000 29,000 Gross profit from sales. 925, 100 701,500 648,900 Accounts receivable ... 42,800 39,800 42,500 Operating expenses_. 202,900 201,400 172,800 Merchandise inventory .. 14,200 13,400 11,800 4,60 4,500 5, 100 Operating income.. 722,200 500, 100 476, 100 Prepaid expenses . ...."' 7,500 8.000 7,000 Interest expense.............. 9,650 0,750 9,900 Notes receivable, due in 2016.. 461,000 Income before taxes_... 712,550 489,350 466,200 Property, plant and equipment, net........... 580,000 521,000 155, 100 154,400 767,900 716,500 649.500 Income taxes.......... 47,800 Total assets.........;;;;..;;; 564,750 334,250 311,800 Liabilities and Equity Accounts payable_ 61,900 56,000 47,700 Salaries payable.......... 12,70 14,700 14, 100 Property taxes payable.. 81, 100 7,600 80,250 Long-term note payable_ 84,000 99,000 109,000 Share capital_... 240,000 220,000 270,000 Retained earnings ........ 288,200 249,200 128,450 Total liabilities and equity... 767,900 716,500 649,500 Compute the merchandise turnover below, and indicate whether the change from year to year is favourable or unfavourable. For your analysis, assume that all other things have remained constant. Apply your analysis in very general terms. All values sh Ratio 2014 2013 Analysis Merchandise turnover.. (select one) Marking: Merchandise turnover The merchandise turnover for 2013 should be 62.90, but you have left this blank. This will cost you 2 marks The merchandise turnover for 2014 should be 57.43, but you have left this blank. This will cost you 2 marks. The change in the merchandise turnover ratio should be 'Unfavourable', but you have not selected an answer. You will lose 2 marks for this part. Total marks for this question: 0 Overall Mark: 0/5 Your mark of 0/5 has been recorded. 2 studies.pdf Show All X insomnia and ca....pdf insomnia and ca....pdf Removed
