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I need help with part 2 and part 6 plz link to the previous mistakes https://www.chegg.com/homework-help/questions-and-answers/condensed-statements-financial-position-statement-income-data-crown-point-corporation-foll-q73453706 https://www.chegg.com/homework-help/questions-and-answers/round-answers-1-decimal-place-eg-52-1-52-52-enter-negative-answers-preceeding-either-sign--q41667586?trackid=f0a3ab28af9e&strackid=47085a444a1f Condensed statements of financial position and statement of
I need help with part 2 and part 6 plz
link to the previous mistakes
https://www.chegg.com/homework-help/questions-and-answers/condensed-statements-financial-position-statement-income-data-crown-point-corporation-foll-q73453706
https://www.chegg.com/homework-help/questions-and-answers/round-answers-1-decimal-place-eg-52-1-52-52-enter-negative-answers-preceeding-either-sign--q41667586?trackid=f0a3ab28af9e&strackid=47085a444a1f
Condensed statements of financial position and statement of income data for Crown Point Corporation follow: 2019 CROWN POINT CORPORATION Statement of Financial Position December 31 2021 2020 Assets Current assets Cash $25,300 $20,100 Accounts receivable (net) 55,300 45,400 Inventory 100,400 84,600 Total current assets 181,000 150,100 Long-term investments 53,000 74,300 Property, plant, and equipment (net) 501,000 370,200 Total assets $735,000 $594,600 Liabilities and Shareholders' Equity Liabilities Current liabilities $84,700 $80,600 Non-current liabilities 155,500 85,100 Total liabilities 240,200 165,700 Shareholders' equity Common shares 328,900 302.700 Retained earnings 165,900 126,200 Total shareholders' equity 494,800 428,900 Total liabilities and shareholders' equity $735,000 $594,600 $17.900 48,300 63,800 130,000 44,600 258,800 $433,400 $30,300 20,000 50,300 299,600 83,500 383,100 $433,400 CROWN POINT CORPORATION Statement of Income Year Ended December 31 2021 2020 Sales 704,600 449,400 Cost of goods sold 454,200 298,500 Gross profit 250,400 150,900 Operating expenses 150,900 83,200 Income from operations 99,500 67,700 Interest expense 10,100 4,110 Income before income tax 89,400 63,590 Income tax expense 17,880 12,718 Net income $71,520 $50,872 Additional information: 1. 2. 3. 4. The allowance for doubtful accounts was $4,900 in 2019, $4,600 in 2020, and $5,000 in 2021. All sales were credit sales. Net cash provided by operating activities was $120,600 in 2020 and $103,000 in 2021. Net capital expenditures were $150,900 for 2020 and $181,000 for 2021. (a) Your answer is partially correct. Calculate the following ratios for 2020 and 2021: (Round answers to 1 decimal place, eg. 5.2:1 or 5.2% or 5.2. Enter negative answers preceeding either - sign, eg.-45 or in parentheses, e.g. (45).) 2021 2020 2.1 :1 1.9 1. Current ratio :1 12.7 9.9 2. Receivables turnover times times 4.9 4 3. Inventory turnover times times 32.7 28 4. % 9.8 16.5 4. Debt to total assets 5. Times interest earned 6. Free cash flow times times -86080 SA -30328 35.5 33.6 10.1 11.3 7. Gross profit margin 8. Profit margin 9. Asset turnover 1.1 0.9 times times 10.8 10 10. Return on assets % eTextbook and Media Save for Later Attempts: unlimited SubmitStep by Step Solution
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