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Everything is right except the Fixed Asset Turnover Ratio. I need help with the steps to get there. 3 2018 Balance Sheet Cash Accounts Receivable,
Everything is right except the Fixed Asset Turnover Ratio. I need help with the steps to get there.
3 2018 Balance Sheet Cash Accounts Receivable, Net Inventory Prepaid Expenses Other Current Assets $8,900 6,400 6,000 2,900 2,150 640 310 12,000 3,100 1,750 1,190 410 15,350 3,600 3,550 1,490 460 15,500 points Total Current Assets Property and Equipment, Net -90,000 38,000 $90,350 $105,500 $50,000 eBook Total Assets Current Liabilities Long-Term Liabilities $12,400 12,400 $13,400 17,850 Print 53,850 38,850 51,250516,400 031,250 2,350 18,750 Total Liabilities Common Stock Retained Earnings References 30,500 8,600 39,100 3,750 39,25018 750 $90,350 $105,500 $50,000 Total Stockholders' Equity Total Liabilities and Stockholders' Equity Income Statement Sales Revenue Cost of Goods Sold Gross Profit Operating Expenses Income from Operations Interest Expense Income before Income Tax Expense Income Tax Expense Net Income $85,500 61,500 $49,500 51,30038,300 11,200 7,550 3,650 1,130 2,520 1,050 $7,720 2,870 1,470 -08,300_ 51,300 17,200 4,550 12,650 1,330 11,320 3,600 10,200 2,550 7,650 3.430 4,220 1,350 Check my work 3 1-a. Calculate the gross profit percentage, return on equity, and fixed asset turnover ratio for 2018 and 2017. 1-b. Was NGS more profitable in 2018 or 2017? 2. Calculate the current ratio for 2018 and 2017 3-a. Calculate the debt-to-assets ratio and times interest earned ratio for 2018 and 2017 3-b. Was NGS more solvent in 2018 or 2017 10 points eBook Complete this question by entering your answers in the tabs below Print Req 2 Req 1A Req 3A Req 1B Req 3B Calculate the gross profit percentage, return on equity, and fixed asset turnover ratio for 2018 and 2017. (Round your answers to 2 decimal places.) 2017 2018 20.12% 19.71% 16.59% 9.90% 0.79 Gross Profit Percentage Return on Equity Fixed Asset Turnover Ratio 0.87 Reg 1A Req 1BStep by Step Solution
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