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Surved Chapter 13 - Homework Help 5 Part 1 of 2 10 points . Required information The following information applies to the questions displayed below.) Summary information from the financial statements of two companies competing in the same industry follows. Barco Kyan Barco Kyan Company Company Company Company Data fron the current year-end Data fron the current year's balance sheets income statement Assets Sales $ 270,000 $ 880,200 Cash $ 19,500 $ 34,000 Cost of goods sold 585,100 632,500 Accounts receivable, net 46.500 64,600 Interest expense 7,900 13,000 Merchandise inventory 84,440 132,500 Incone tax expense 14,800 24,300 Prepaid expenses 5,000 6,950 Net incone 162,200 210,400 Plant assets, net 290,000 304,400 Basic earnings per share 4.51 5.11 Total assets $445,440 $ 542,450 Cash dividends per share 3.81 3.93 Liabilities and Equity Beginning-of-year balance sheet data Current Liabilities $ 61,340 $ 93,308 Accounts receivable, net 5.29,800 $ 54,200 Long-term notes payable 80,800 101,000 Merchandise inventory 55,600 107,400 Common stock. $5 par value 180,000 206,000 Total assets 398,000 382,500 Retained earnings 123,300 142,150 Connon stock, $5 par value 180,000 206,000 Total liabilities and equity 5 445,440 $ 542,450 Retained earnings 98,300 93,600 Required: 1a. For both companies compute the current ratio, (b) acid-test ratio ( accounts receivable turnover inventory turnover, (o) days sales in Inventory, and (7 days' sales uncollected. (Do not round intermediate calculations.) 1b. Identify the company you consider to be the better short-term credit risk Complete this question by entering your answers in the tabs below. 1A Current Ratio 1A Acid Test Ratio 1A Acct Rec Turn 1A Invent Turnover 1A Days Salin Inv 1A Days Sal Uncol 1B short term For both companies compute the current ratio. (a) Company Current Ratio Numerator: Denominator: Current assets 1 Current liabilities $ 155,4401 $ 61,340 $ 238,050 / $ 93,300 11 Barco Kyan Current Ratio Current ratio 2.5 to 1 2.6 to 1 1A Current Ratio 1A Acid Test Ratio > IA Current Ratio 1A Acid Test Ratio 1A Acct Rec Turn 1A Invent Turnover 1A Days Sal in 1A Days Sal Inv Uncol 1B short term For both companies compute the acid-test ratio. Acid Test Ratio (b) Company Denominator Cash Numerator: Short-term investments Acid-Test Ratio Acid-test ratio 0 to 1 O to 1 Barco Kyan $ $ 19,500 34,000 + 1A Current 1A Acid Test 1A Acct Rec 1A Invent 1A Days Sal in 1A Days Sal 1B short term Ratio Ratio Turn Turnover Inv Uncol 1A Acct Rec Turn For both companies compute the accommercityhotes) receivable turnover. (c) Accounts Receivable Turnover Company Numerator: 1 Denominator: Accounts Receivable Turnover Net sales Average accounts receivable, net Accounts receivable turnover Barco $ 770,000 $ 38,150 20.2 times Kyan $ 880,200/ $ 59,400 14.8 times 1A Current Ratio 1A Acid Test 1A Acct Rec Ratio Turn 1A Invent 1A Days Salin Turnover 1A Days Sal 18 short term Uncol Iny For both companies compute the inventory turnover. (d) Inventory Turnover Company Numerator: Denominator: Cost of goods sold 1 Average inventory Barco $ 585,100/ $ 70,020 = Kyan 632,5001 $ 119,950 = Inventory Turnover Inventory turnover 8.4 times 5.3 times $ 1B short term 1A Current 1A Acid Test 1A Acct Rec 1A Invent 1A Days Salin 1A Days Sal Ratio Ratio Turn Tumover Inv Uncol For both companies compute the days' sales in inventory. 1A Days Sal in Inv (e) Days' Sales In Inventory Company Numerator: Denominator Days Days' Sales In Inventory Days' sales in inventory o days O days 1 x = Barco Kyan x 18 short term 1A Current 1A Acid Test 1A Acct Rec 1A Invent 1A Days Sal in 1A Days Sal Ratio Ratio Turn Turnover Inv Uncol For both companies compute the days' sales uncollected. Company Days' Sales Uncollected Denominator: Days Numerator: 1111 Days' Sales Uncollected Days' sales uncollected 0 days o days 1 Barco Kyan 5 1B short term Inv 1A Current 1A Acid Test 1A Acct Rec 1A Invent 1A Days Salin 1A Days Sal Ratio Ratio Turn Turnover Uncol Identify the company you consider to be the better short-term credit risk. Better short-term credit risk Barco company