Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

(a) Compute the following items for Pina Corporation. (Round answers to 2 decimal places, e.g. 2.25 or 2.25%.) 1. 2. 3. 4. 5. 1. 2.

image text in transcribed

(a) Compute the following items for Pina Corporation. (Round answers to 2 decimal places, e.g. 2.25 or 2.25%.) 1. 2. 3. 4. 5. 1. 2. 3. 4. Current ratio for fiscal years 2020 and 2021. Acid-test (quick) ratio for fiscal years 2020 and 2021. Inventory turnover for fiscal year 2021. Return on assets for fiscal years 2020 and 2021. (Assume total assets were $1,675,840 at 3/31/19.) Percentage change in sales, cost of goods sold, gross margin, and net income after taxes from fiscal year 2020 to 2021. Current ratio Acid-test (quick) ratio Inventory turnover Return on assets 2020 1.97 1.66 :1 :1 18.53 % 2021 2.18 1.62 19.91 19.26 :1 :1 times % (a) Compute the following items for Pina Corporation. (Round answers to 2 decimal places, e.g. 2.25 or 2.25%.) 1. 2. 3. 4. 5. 1. 2. 3. 4. Current ratio for fiscal years 2020 and 2021. Acid-test (quick) ratio for fiscal years 2020 and 2021. Inventory turnover for fiscal year 2021. Return on assets for fiscal years 2020 and 2021. (Assume total assets were $1,675,840 at 3/31/19.) Percentage change in sales, cost of goods sold, gross margin, and net income after taxes from fiscal year 2020 to 2021. Current ratio Acid-test (quick) ratio Inventory turnover Return on assets 2020 1.97 1.66 :1 :1 18.53 % 2021 2.18 1.62 19.91 19.26 :1 :1 times %

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Funds Private Equity Hedge And All Core Structures

Authors: Matthew Hudson

1st Edition

1118790405, 978-1118790403

More Books

Students also viewed these Finance questions