Question
Consider the following companys balance sheet and income statement. Balance Sheet Assets Liabilities and Equity Cash $ 12,000 Accounts payable $ 38,000 Accounts receivable 67,000
Consider the following companys balance sheet and income statement.
Balance Sheet Assets Liabilities and Equity Cash $ 12,000 Accounts payable $ 38,000 Accounts receivable 67,000 Notes payable 20,000 Inventory 48,000 Total current assets 127,000 Total current liabilities 58,000 Fixed assets 76,000 Long-term debt 20,000 Equity 125,000 Total assets $ 203,000 Total liabilities and equity $ 203,000
Income Statement Sales (all on credit) $ 300,000 Cost of goods sold 190,000 Gross margin 110,000 Selling and administrative expenses 38,000 Depreciation 8,000 EBIT 64,000 Interest expense 5,600 Earnings before tax 58,400 Taxes 17,520 Net income $ 40,880
For this company, calculate the following: (Use 365 days in a year. Do not round intermediate calculations. Round your answers to 2 decimal places. (e.g., 32.16))
a. Current ratio times b. Number of days sales in receivables days c. Sales to total assets times d. Number of days in inventory days e. Debt-to-asset ratio % f. Cash-flow debt ratio % g. Return on assets % h. Return on equity %
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