Question
Data on page 30 - https://www.sec.gov/ix?doc=/Archives/edgar/data/836157/000156459020047271/lnn-10k_20200831.htm#FinancialStatementsAndSupplementaryData 1) Show the percent change calculation of Fiscal 2020 net income from Fiscal 2019 net income (comprehensive income should
Data on page 30 - https://www.sec.gov/ix?doc=/Archives/edgar/data/836157/000156459020047271/lnn-10k_20200831.htm#FinancialStatementsAndSupplementaryData
1) Show the percent change calculation of Fiscal 2020 net income from Fiscal 2019 net income (comprehensive income should not be used).
2) Show the calculation for cash and cash equivalents as a percent of total current assets at the end of Fiscal 2020.
3) Show the current ratio calculation at the end of Fiscal 2020.
4) Show the quick or acid test ratio calculation at the end of Fiscal 2020.
5) Show the accounts receivable collection period (also called days sales outstanding) calculation for Fiscal 2020. The calculation should use
average daily revenues measured by Fiscal 2020 revenues divided by 365 days.
6) Show the days inventory held calculation for Fiscal 2020. The calculation should use average daily cost of goods sold measured by Fiscal 2020 cost of goods sold divided by 365 days.
7) Show the inventory turnover calculation for Fiscal 2020.
8) Show the leverage ratio calculation at year-end Fiscal 2020.For this calculation, debt includes current and long-term components and Capital includes debt defined above, plus shareholders' equity.
9) Show the gross profit margin calculation for Fiscal 2020.
10) Show the net income margin calculation for Fiscal 2020.
11) Show the return on total assets calculation for Fiscal 2020.Assets used in the calculation should be as of the beginning of Fiscal 2020 which is
the same as year-end Fiscal 2019.
12) Show the return on shareholders' equity calculation for Fiscal 2020.Stockholders' equity used in the calculation should be the average of year-end Fiscal 2020 and fiscal year-end Fiscal 2019.
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