Question
Financial statements for Askew Industries for 2013 are shown below: 2013 Income Statement ($ in 000s) Sales $ 8,800 Cost of goods sold (6,250 )
Financial statements for Askew Industries for 2013 are shown below: |
2013 Income Statement | |||
($ in 000s) | |||
Sales | $ | 8,800 | |
Cost of goods sold | (6,250 | ) | |
Gross profit | 2,550 | ||
Operating expenses | (1,950 | ) | |
Interest expense | (180 | ) | |
Tax expense | (168 | ) | |
Net income | $ | 252 | |
Comparative Balance Sheets | ||||||
Dec. 31 | ||||||
2013 | 2012 | |||||
Assets | ||||||
Cash | $ | 580 | $ | 480 | ||
Accounts receivable | 580 | 380 | ||||
Inventory | 780 | 580 | ||||
Property, plant, and equipment (net) | 1,800 | 1,900 | ||||
$ | 3,740 | $ | 3,340 | |||
Liabilities and Shareholders' Equity | ||||||
Current liabilities | $ | 980 | $ | 730 | ||
Bonds payable | 1,300 | 1,300 | ||||
Paid-in capital | 580 | 580 | ||||
Retained earnings | 880 | 730 | ||||
$ | 3,740 | $ | 3,340 | |||
Calculate the following ratios for 2013. (Do not round intermediate calculations. Consider 365 days a year. The expected format for rounding is presented in each row of the table.) 1) inventory turnover ratio ( #.# ) ___ times 2) average days in inventory ( #.## )______days 3) receivable turnover ratio (#.# ) _______times 4) average collection period ( #.## ) _________days 5) asset turnover ratio ( #.##) __________times 6) profit margin on sales ( #.##)__________ 7) retuen on assets ( #.## ) _________ 8) return on shareholders equity ( #.# ) ________ 9) equity multiplier ( #.## ) ________ times 10) return on shareholders equity ( using the dupont framework) ( #.#)_________ |
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