Answered step by step
Verified Expert Solution
Question
1 Approved Answer
Could you tell me which is wrong and explain it please? d. Net cash provided by operating activities for 2022 was $/0,000. Using the financial
Could you tell me which is wrong and explain it please?
d. Net cash provided by operating activities for 2022 was $/0,000. Using the financial statements and additional information, compute the following ratios for the Lewis Company for 2022. Show all computations. If you need more room, expand the cells please do not write outside the cells. a. Current ratio 25000+20000+50000+140000=$23500025000+4000=$65000=235000/65000=3.62:1 b. Quick ratio 25000+20000+50000=$9500095000/65000=1.46:1 c. Inventory turnover 184000/155000=1.19times d. Days in inventory =average inventory/cost of goods sold per day 365/1/187=307Days e. Accounts Receivable turnover (50000+30000)/2=$40000360000/40000=9times f. Days in Accounts Receivable 365/9=41Days g. Profit margin 80000/360000100 =22.22% h. Return on assets nprovements, choose Check for Updates. d. Days in inventory =average inventory/cost of goods sold per day 365/1/187=307Days e. Accounts Receivable turnover (50000+30000)/2=$40000360000/40000=9times f. Days in Accounts Recelvable 365/9=41Daysg.Profitmargin80000/360000100==22.22% h. Return on assets =[net income/average total assets] 100 126000/405000100=31.11% i. Debt to equity 75000/265000=0.28:1 3|P a ge j. Working Capital 23500065000=$170000184000/170000=1.08times 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