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Financial statements for Askew Industries for 2016 are shown below (in $000s): 2016 Income Statement Sales $ 9,900 Cost of goods sold (6,525 ) Gross
Financial statements for Askew Industries for 2016 are shown below (in $000s): |
2016 Income Statement | |||
Sales | $ | 9,900 | |
Cost of goods sold | (6,525 | ) | |
Gross profit | 3,375 | ||
Operating expenses | (2,225 | ) | |
Interest expense | (290 | ) | |
Tax expense | (344 | ) | |
Net income | $ | 516 | |
Comparative Balance Sheets | ||||||
Dec. 31 | ||||||
2016 | 2015 | |||||
Assets | ||||||
Cash | $ | 690 | $ | 590 | ||
Accounts receivable | 690 | 490 | ||||
Inventory | 890 | 690 | ||||
Property, plant, and equipment (net) | 2,900 | 3,000 | ||||
$ | 5,170 | $ | 4,770 | |||
Liabilities and Shareholders' Equity | ||||||
Current liabilities | $ | 1,640 | $ | 1,390 | ||
Bonds payable | 1,850 | 1,850 | ||||
Paid-in capital | 690 | 690 | ||||
Retained earnings | 990 | 840 | ||||
$ | 5,170 | $ | 4,770 | |||
Required: |
Calculate the following ratios for 2016. (Consider 365 days a year. Do not round intermediate calculations and round your final answers to 2 decimal places.) |
1.Inventory turnover ratio
2.Average days in inventorydays
3.Receivables turnover ratio
4.Average collection perioddays
5.Asset turnover ratio
6.Profit margin on sales%
7.Return on assets%
8.Return on shareholders equity%
9.Equity multipliertimes
10.Return on shareholders equity (using the DuPont framework)%
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