Answered step by step
Verified Expert Solution
Question
1 Approved Answer
Below is Baysix Ventures Corp financial statements for the year 2018 and 2017: Use this financial statements to answer the questions below: Assume a tax
Below is Baysix Ventures Corp financial statements for the year 2018 and 2017: Use this financial statements to answer the questions below: Assume a tax rate of 25% Baysix Ventures Corp Baysix Ventures Corp Balance Sheet Income Statement As of Dec. 31 For the Year Ended Dec. 31 Assets 2018 2017 2018 2017 Cash 431,000 339,000 3,074,000 2,567,000 Accounts Receivable 503,000 365,000 Cost of Goods Sols 2.088,000 1,711,000 Inventories 289,000 300,000 Gross Profit 986,000 856,000 Total Current Assets 1,223,000 1,004,000 Selling and G&A Expenses 294,000 295,000 Gross Fixed Assets 4,669,000 4,322,000 Fixed Expenses 35,000 35,000 Accumulated Depreciation 2,295,000 2,056,000 Depreciation Expense 239,000 223,000 Net Fixed Assets 2,374,000 2,266,000 EBIT 418,000 303,000 Total Assets 3,597,000 3,270,000 Interest Expense 93,000 91,000 Liabilities and Owners' Equity Earnings Before Taxes 325,000 212,000 Accounts Payable 382,000 270,000 Taxes 94.000 64,000 Short-term Notes Payable 79.000 99.000 Net Income 231,000 148,000 Accruals 159.000 114,000 Total Current Liabilities 620,000 483,000 Long-term Debt 1,023,000 967,000 Total Liabilities 1,643,000 1,450,000 Common Stock 819,000 808,000 Retained Earnings 1,135,000 1,012.000 Total Shareholder's Equity 1.954.000 1.820,000 Total Liabilities and Owners' Equity 3,597,000 3,270,000 Questions: What is (1) Baysix Ventures Corp 2018 and 2017 Inventory Turnover Ratio (2)Baysix Ventures Corp 2018 and 2017 Fixed Asset Turnover (3) Baysix Ventures Corp 2018 and 2017 Long-term Debt Ratio (4) Baysix Ventures Corp 2018 and 2017 Net Profit Margin (5) Baysix Ventures Corp 2018 and 2017 Return on Equity
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started