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I cannot seem to get the total asset turnover, inventory turnover or receivables turnover correct. Please help!!! :) Some recent financial statements for Smolira Golf,
I cannot seem to get the total asset turnover, inventory turnover or receivables turnover correct. Please help!!! :)
Some recent financial statements for Smolira Golf, Inc., follow SMOLIRA GOLF, INC Balance Sheets as of December 31, 2013 and 2014 2013 2014 2013 Liabilities and Owners' Equity 2014 Assets Current assets Current liabilities $ 3,061 $ 3,057 Accounts payable Cash Accounts receivable Inventory 4,742 12,578 13,732 Other $ 2,178 $ 2,650 2,166 112 1,775 95 5,731 Notes payable Total $20,381 $ 22,520 Total $4,048 $ 4,928 $12,900 $ 15,660 Long-term debt Owners' equity Common stock and paid-in surplus Accumulated retained earnings $40,500 $ 40,500 15,679 39,477 $56,179 $ 79,977 $73,127 $100,565 Fixed assets Net plant and equipment $52,746 $ 78,045 Total Total assets $73,127 $100,565 Total liabilities and owners' equityStep by Step Solution
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