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I need help in this question, I have only 30 minutes and i need fast help please Question 49 Use the following information to answer
I need help in this question, I have only 30 minutes and i need fast help please
Question 49 Use the following information to answer this question. Windswert. Ing. Year 2 Income Statement is in millions) Net sales $ 10.550 Less: Cost of goods sold 7.550 Less: Depreciation 455 Earnings before interest and taxes $ 2.545 Less: Interest paid 94 Taxable income $2,451 Less: Taxes 858 Net Income $ 1.593 Windswept Inc. Year 1 and Year 2 Balance Sheets (5 in millions) Year 1 Year 2 Cash $ 180 $ 210 Accounts payable Accounts rec 950 850 Long-term debt Inventory 1.690 1,615 Common stock Total $ 2,820 $ 2.675 Retained earnings Net fixed assets 3.370 3,830 Total assets $ 6,190 $6.505 Total liab. & equity What is the fixed asset turnover? (use Year 2 values, not an average) O 2.24 Year 1 $ 1.360 1.030 $ 3,200 600 Year 2 $ 1,385 1.310 $ 2,960 850 $ 6,190 $ 6,505 O 2.75 O 1.62 O 3.94 O 0.36Step by Step Solution
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