Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Benjamin Computer has the following income statement and balance sheet. What is Benjamin's total asset turnover? 1.12x 1.41x 1.53x 1.85x 1.99x begin{tabular}{|l|r|} hline Sales &

Benjamin Computer has the following income statement and balance sheet.

image text in transcribed

What is Benjamin's total asset turnover? 1.12x 1.41x 1.53x 1.85x 1.99x

\begin{tabular}{|l|r|} \hline Sales & 1,600,000 \\ \hline Cost of goods sold & 950,000 \\ \hline Selling, general \& admin expenses & 285,000 \\ \hline Depreciation & 120,000 \\ \hline Interest expense & 9,000 \\ \hline Taxes (30\%) & 70,800 \\ \hline Net income & 165,200 \\ \hline & \\ \hline Cash & 70,000 \\ \hline Receivables & 140,000 \\ \hline Inventory & 205,000 \\ \hline Net fixed assets & 630,000 \\ \hline Total Assets & 1,045,000 \\ \hline Accounts payable & 28,000 \\ \hline Other current liabilities & 25,000 \\ \hline Notes payable & 65,000 \\ \hline Long-term debt & 106,000 \\ \hline Total Equity & 821,000 \\ \hline Total Liabilities \& Equity & 1,045,000 \\ \hline \end{tabular}

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

Your Financial Future How To Take Control Of Your Financial Future

Authors: Deloris Lutke

1st Edition

979-8388730831

More Books

Students also viewed these Finance questions