Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Dont give me the wrong answer. This is 3th time! 1 Problem 19-1 Use the financial statements of Heifer Sports Inc. to find the information

image text in transcribedimage text in transcribed

Dont give me the wrong answer. This is 3th time!

1 Problem 19-1 Use the financial statements of Heifer Sports Inc. to find the information below for Heifer. (Use 365 days a year. Round all answers to 2 decimal places except $ amounts.) 10 points Income Statement Sales Cost of goods sold Depreciation Selling & admin. expenses EBIT Interest expense Taxable income Taxes 2017 $ 5,600,000 2,907,000 286, 200 1,533,000 873, 800 133,000 740, 800 330, 300 $ 410,500 Net income 2017 2016 $ 50, 100 664, 000 493, 000 $ 1,207, 100 3, 122,000 $ 4, 329, 100 $ 44,000 759,400 528, 300 $ 1,331,700 3,084, 000 $ 4,415, 700 Balance Sheet, Year-End Assets Cash Accounts receivable Inventory Total current assets Fixed assets Total assets Liabilities and Stockholders' Equity Accounts payable Short-term debt Total current liabilities Long-term bonds Total liabilities Common stock Retained earnings Total stockholders' equity Total liabilities and stockholders' equity $ 342, 500 487,000 $ 829, 500 2,490,000 $ 3,319,500 313,800 695, 800 $ 1,009, 600 $ 4, 329, 100 $ 500,000 611,400 $ 1,111,400 2,445, 200 $ 3,556, 600 313, 800 545, 300 859, 100 $ 4,415, 700 $ $ Answer is complete but not entirely correct. a. b. C. $ d. e. Inventory turnover ratio in 2017 Debt/equity ratio in 2017 Cash flow from operating activities in 2017 Average collection period Asset turnover ratio Interest coverage ratio Operating profit margin Return on equity Compound leverage ratio Net cash provided by operating activities 5.69 3.29 257,700 X 46.38 days 1.28 6.57 4.80 X % 1.31% 6.56 X 257,700 f. g. h. j. k. $

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access with AI-Powered 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

Students also viewed these Accounting questions