Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

help me plzzzz! Data table Data table Data table Requirements Use the income statement and the balance sheet to calculate the following: a. Evan's rate

help me plzzzz! image text in transcribed
image text in transcribed
image text in transcribed
image text in transcribed
image text in transcribed
Data table Data table Data table Requirements Use the income statement and the balance sheet to calculate the following: a. Evan's rate of inventory turnover and days' inventory outstanding for 2021. b. Days' sales in average receivables (days' sales outstanding) during 2021 (round dollar amounts to one decimal place). Assume all sales are made on account. c. Accounts payable turnover and days' payables outstanding for 2021. For this purpose, assume that the impact of inventories on cost of goods sold is immaterial, allowing you to use cost of goods sold rather than purchases in your computations. d. Length of cash conversion cycle in days for 2021. Do these measures look strong or weak? Give the reason for your answer. The Evan 2021 income statement and balance sheet follows. (Click the icon to view the assets section of the balance sheet) (Click the icon to view the liabilites and stockholders' equity sections of the balance sheet) (Click the icon to view the income statement) Read the recuirements. a. Use the income statement and the bolance sheet to calculate Evar's rate of inventory turnover and days' inventory outstanding for 2021. Begin by selecting the formula and then enter the amounts to calculate inventory tumover. (Enter currency amounts in milions as given in the question. Round the inventory tumover to Iwo docimal places, XX )

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored 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

Recommended Textbook for

Making Accountability Work Dilemmas For Evaluation And For Audit

Authors: Marie-Louise Bemelmans-Videc, Jeremy Lonsdale, Burt Perrin

1st Edition

ISBN: 1412865557, 978-1412865555

More Books

Students also viewed these Accounting questions

Question

Evaluate the impact of unions on nurses and physicians.

Answered: 1 week ago

Question

Describe the impact of strikes on patient care.

Answered: 1 week ago

Question

Evaluate long-term care insurance.

Answered: 1 week ago