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Hi I need help answering the following question 5700SA%252F%252Fims.ml The condensed balance sheet and income statement for Marjoram Company are presented below. MARJORAM COMPANY Balance
Hi I need help answering the following question
5700SA%252F%252Fims.ml The condensed balance sheet and income statement for Marjoram Company are presented below. MARJORAM COMPANY Balance Sheet At December 31, 2021 Cash $ 23,500 Notes receivable (due August 15, 2022) 38.000 Accounts receivable (net) 58,200 Merchandise inventory 73,300 Property, plant, and equipment (net) 295,00 Intangible assets 14,200 Total assets $494,200 Current liabilities $105,600 Bonds payable (12%) (long-term) 145,800 Common stock 79,000 Retained earnings 164.600 Total liabilities and equity $4,200 MARJORAM COMPANY Income Statement For the Year ended December 31, 2021 Sales Cost of goods sold Gross profit Operating expenses Operating income Interest expense Income before income tax Income tax expense Net income 5839,000 46,000 3371,00 177 3194,600 12/1489 5127,200 53,160 5120,00 Required: Compute the return on shareholders' equity ratio for Marjoram Company (Round your percentage answer to nearest whole percent.) Ratum on shareholders equity The following information (in $ millions) comes from the Annual Report of Saratoga Springs Co. for the year ending 12/31/2021: Year anded 12/31/2021 Net sales 58,869 Cost of goods sold 4,887 Selling and administrative expense 2,029 Interest expense 536 Income before taxes 617 Net income 578 12/31/2020 $ 76 784 12/31/2021 $ 1,095 1,130 1,175 13.620 $17,020 Cash and cash equivalents Receivables, net Inventories Land, buildings and equipment at cost, net Total assets 639 3,964 35,463 Total current liabilities Long-term debt Total liabilities Total stockholders' equity $ 5,867 5,711 $11,528 $ 5,442 $2,329 2,341 $4,670 5793 Required: Compute the average days in inventory for 2021. (Round your final answer to 1 decimal place.) Average days in inventory days Step by Step Solution
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