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I need to solve the Inventory Turnover Ratio, The average age of payables, and the Time Interest Earned using the financial statements below for 2017
I need to solve the Inventory Turnover Ratio, The average age of payables, and the Time Interest Earned using the financial statements below for 2017 & 2016.
Please show all work.
Average Age of Payables = Average A/P x 365 Net Purchases
Times Interest Earned = Net Income+(Interest + Taxes) Interest Expense
Inventory Turnover Ratio = Cost of Product Sold Average Inventory
2017 2016 OPERATING REVENUES Passenger Other 5,893 523 6,416 6,288S 6,013 $ 727 7,015 619 Total operating revenues 6,632 OPERATING EXPENSES Aircraft fuel and related taxes Salaries, wages and benefits Landing fees and other rents Depreciation and amortization Aircraft rent Sales and marketing Maintenance, materials and repairs Other operating expenses 1,363 1,887 397 446 100 267 1,074 1,698 357 393 110 259 563 866 5,320 1,312 1,348 1,540 342 345 122 264 490 749 5,200 1,216 933 6,015 1,000 Total operating expenses OPERATING INCOME OTHER INCOME (EXPENSE) (95) 10 (128) Interest expense Capitalized interest Interest income and other Total other income (expense) (79) 921 (226) (119) 1,097 420 677 (96) 1,216 INCOME BEFORE INCOME TAXES Income tax expense (benefit) NET INCOME 457 759 S 1,147 $ EARNINGS PER COMMON SHARE Basic Diluted 3.49 S 3.47 S 2.32 2.22 2.15 1.98Step by Step Solution
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