Question
LESLI CORPORATION Balance Sheet Income Statement Assets: Sales (all credit) $5,800,000 Cash $150,000 Cost of goods sold -3,000,000 Accounts receivable 450,000 Operating expense -900,000 Inventory
LESLI CORPORATION | ||||
Balance Sheet | Income Statement | |||
Assets: | Sales (all credit) | $5,800,000 | ||
Cash | $150,000 | Cost of goods sold | -3,000,000 | |
Accounts receivable | 450,000 | Operating expense | -900,000 | |
Inventory | 500,000 | Interest expense | -750,000 | |
Net fixed assets | 1,900,000 | Income taxes | -600,000 | |
Total Assets | $3,000,000 | |||
Net income | 550,000 | |||
Liabilities and owners' equity: | ||||
Accounts payable | 150,000 | |||
Notes payable (under 1 yr) | 550,000 | |||
Long term debt | 1,200,000 | |||
Owners Equity | 1,100,000 | |||
Toatl liabilities and owners equity | $3,000,000 |
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11. Based on information, the average collection period is
a.36 b. 28.3 c. 13.2 d. 22
12. Based on information, the return on total assets is
a. 70% b. 21.67% c. 44.74% d. 18.3%
13. Based on the information, the operating profit margin is
a. 32.8% b. 22.5% c. 36% d. 39%
14. Based on information, the total asset turnover is
a. 2.4 times b. 3.0 times c. 1.8 times d. 1.9 times
15. Based on the information, the debt ratio is
a. 0.18 b. 0.53 c. 0.50 d. 0.63
16. Based on the information, the current and quick ratios are respectively:
a. 1.57 and 0.86 b. 0.37 and 0.20 c. 2.75 and 1.25 d. 2.75 and 1.50
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