CompleteProblems 5-1andProblems 6-11in the Gibson text using Excel. (Label all work.)

must pass turnitin.

P6-11 is attached in 3 segments labeled as part 1-3 as I couldn't copy the text so I did screen shots .

Problems P 5-1 Best Buy Co., Inc.'s consolidated balance sheets from its 2011 annual report are presented in Exhibit 5-3. Required a. Using the balance sheets, prepare a vertical common-size analysis for 2011 and 2010. Use total assets as a base. b. Using the balance sheets, prepare a horizontal common-size analysis for 2011 and 2010. Use 2010 as the base. c. Comment on significant trends that appear in (a) and (b). \fA Partial balance sheet and income statement for King Corporation follow: King Corporation Partial Balance Sheet 31-Dec-11 Assets Current Assets Cash Marketable securities Trade receivables, less allowance of $6,000 Inventories, LIFO Prepaid Expenses Total Current Assets $33,493 215,147 255,000 523,000 26,180 $1,052,820 Liabilities Current liabilities: Trade Accounts payable Notes payable(primarily to banks) and commercial paper Accured expenses and other liabilities Income taxes payable Current maturities of long-term debt $103,689 210,381 120,602 3,120 22,050 Total current liabilities $459,842 King Corporation Partical Income Statement For Year Ended December 31, 2011 Net Sales Miscellaneous income Cost and expenses: Cost of Sales Selling, general, and administrative expenses Interest expense Income Taxes Net Income Compute the following: a. Working capital b. Current ratio c. Acid-test ratio d. Cash ratio e. Days' sales in receivables f. Accounts receivable turnover in days g. Days' sales in inventory h. Inventory turnover in days i. Operating cycle solution on next sheet $3,050,600 45,060 $3,095,660 $2,185,100 350,265 45,600 300,000 $2,880,965 $214,695 a: working capital (current asset - current liabilities) current assets 1052820 less: current liabilities 459842 working capital 592978 b: current ratio (current assets/current liabilities) current assets 1052820 current liabilities 459842 current ratio 2.289526 c. Acid-test ratio {(current assets-stock)/current liabilities} current assets 1052820 stock 523,000 current liabilities 459842 acid test ratio 1.152178 d. Cash ratio {(cash+cash equivalent)/current liabilities} cash 33493 cash equivalent 215,147 current liabilities 459842 cash ratio 0.540707 e. Days' sales in receivables (Debtors No. of Working Days / Credit Sales) debtors 255,000 days 365 sales 3050600 days' sales in receivable 30.51039 31 days f. Accounts receivable turnover (sales/debtor) debtors 255000 sales 3050600 Accounts receivable turnover 11.96314 g. Days' sales in inventory (inventory x days/COGS) inventory 523,000 cost of sales 2185100 days 365 Days' sales in inventory 87.36213 87 days h. Inventory turnover (Cost of sales/inventory) inventory 523000 cost of sales 2185100 inventory turnover ratio 4.178011 i. Operating cycle (days' sales in receivable + days' sales in inventory) Days' sales in inventory days' sales in receivable operating cycle 87 days 31 days 118 days A Partial balance sheet and income statement for King Corporation follow: King Corporation Partial Balance Sheet 31-Dec-11 Assets Current Assets Cash Marketable securities Trade receivables, less allowance of $6,000 Inventories, LIFO Prepaid Expenses Total Current Assets $33,493 215,147 255,000 523,000 26,180 $1,052,820 Liabilities Current liabilities: Trade Accounts payable Notes payable(primarily to banks) and commercial paper Accured expenses and other liabilities Income taxes payable Current maturities of long-term debt $103,689 210,381 120,602 3,120 22,050 Total current liabilities $459,842 King Corporation Partical Income Statement For Year Ended December 31, 2011 Net Sales Miscellaneous income Cost and expenses: Cost of Sales Selling, general, and administrative expenses Interest expense Income Taxes Net Income Compute the following: a. Working capital b. Current ratio c. Acid-test ratio d. Cash ratio e. Days' sales in receivables f. Accounts receivable turnover in days g. Days' sales in inventory h. Inventory turnover in days i. Operating cycle solution on next sheet $3,050,600 45,060 $3,095,660 $2,185,100 350,265 45,600 300,000 $2,880,965 $214,695 a: working capital (current asset - current liabilities) current assets 1052820 less: current liabilities 459842 working capital 592978 b: current ratio (current assets/current liabilities) current assets 1052820 current liabilities 459842 current ratio 2.289526 c. Acid-test ratio {(current assets-stock)/current liabilities} current assets 1052820 stock 523,000 current liabilities 459842 acid test ratio 1.152178 d. Cash ratio {(cash+cash equivalent)/current liabilities} cash 33493 cash equivalent 215,147 current liabilities 459842 cash ratio 0.540707 e. Days' sales in receivables (Debtors No. of Working Days / Credit Sales) debtors 255,000 days 365 sales 3050600 days' sales in receivable 30.51039 31 days f. Accounts receivable turnover (sales/debtor) debtors 255000 sales 3050600 Accounts receivable turnover 11.96314 g. Days' sales in inventory (inventory x days/COGS) inventory 523,000 cost of sales 2185100 days 365 Days' sales in inventory 87.36213 87 days h. Inventory turnover (Cost of sales/inventory) inventory 523000 cost of sales 2185100 inventory turnover ratio 4.178011 i. Operating cycle (days' sales in receivable + days' sales in inventory) Days' sales in inventory days' sales in receivable operating cycle 87 days 31 days 118 days