Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

I need help. The financial statements of Diaz Company include the following data: 2019 Sales $170,000 Cost of Goods Sold 68,000 Operating Expenses 51,000 Net

I need help.

image text in transcribedimage text in transcribedimage text in transcribed
The financial statements of Diaz Company include the following data: 2019 Sales $170,000 Cost of Goods Sold 68,000 Operating Expenses 51,000 Net Cash Provided from Operating Activities 61,000 Net Income 51,000 Dividends 9,000 Earnings per Share 0.25Balance Sheet December 31 Assets Dec 31, 2019 Dec 31, 2018 Cash $188,900 $121,200 Accounts Receivable, net 40,200 35,000 Inventory 82,700 83,700 Total Current Assets 311,800 239,900 Plant Assets, net 133,000 139,000 Total Assets $444,800 $378,900 Liabilities and Stockholders' Equity Current Liabilities $45,800 $44,900 10% Bonds Payable 65,000 66,000 Total Liabilities 110,800 110,900 Common Stock, $1 par 218,000 194,000 Retained Earnings 116,000 74,000 Total Stockholders' Equity 334,000 268,000 Total Liabilities and Stockholders' Equity $444,800 $378,900Required: Compute the cash return on sales ratio for 2019. Round your answer to the nearest percentage. (If necessary, consult a list of formulas.) Cash return on sales ratio: I: \"A

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

Fundamentals Of Advanced Accounting

Authors: Joe Hoyle

4th Edition

78136636, 978-0078136634

More Books

Students also viewed these Accounting questions

Question

Describe the BellMagendie Law and how it was discovered.

Answered: 1 week ago

Question

The role of life: It consists of your own service to yourself.

Answered: 1 week ago