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Financial statements for Askew Industries for 2018 are shown below (in $000s): 2018 Income Statement Sales $ 8,700 Cost of goods sold (6,075 ) Gross
Financial statements for Askew Industries for 2018 are shown below (in $000s):
2018 Income Statement | |||
Sales | $ | 8,700 | |
Cost of goods sold | (6,075 | ) | |
Gross profit | 2,625 | ||
Operating expenses | (1,775 | ) | |
Interest expense | (110 | ) | |
Tax expense | (296 | ) | |
Net income | $ | 444 | |
Comparative Balance Sheets | |||||||
Dec. 31 | |||||||
2018 | 2017 | ||||||
Assets | |||||||
Cash | $ | 510 | $ | 410 | |||
Accounts receivable | 510 | 310 | |||||
Inventory | 710 | 510 | |||||
Property, plant, and equipment (net) | 1,100 | 1,200 | |||||
$ | 2,830 | $ | 2,430 | ||||
Liabilities and Shareholders Equity | |||||||
Current liabilities | $ | 560 | $ | 310 | |||
Bonds payable | 950 | 950 | |||||
Paid-in capital | 510 | 510 | |||||
Retained earnings | 810 | 660 | |||||
$ | 2,830 | $ | 2,430 | ||||
Calculate the following ratios for 2018. (Consider 365 days a year. Do not round intermediate calculations and round your final answers to 2 decimal places.) Inventory turnover ratio Average days in inventory Receivable turnover ratio Average collection period Asset turnover ratio Profit margin on sales Return on assets Return on shareholders equity Equity multiplier Return on shareholders equity (using DuPont framework) |
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