Need help finding Inventory Turnover from these statements. Please help with the calculations. I cannot seem to. figure them out. The other examples on here are wrong according to checks
Auto Save OFF ACC 308 Final Project Workbook Home Insert Draw Page Layout Formulas Data Review View Tell me Share O Comment X V A. % v Conditional Formatting Format as Table Cell Styles Paste Font Alignment Number Cells Editing Analyze Data F15 X fx A B D E F G . 1 J K L 1 Milestone One Workbook Instructions 2 Note: Refer to the Final Project Scenario document for Peyton's ratio formulas. Peyton Approved Ratio Analysis 2017 2016 Current Ratio (Working Capital) 5.78 5.18 Quick Ratio 4.89 4.60 A/R Turnover 5.91 5.53 Inventory Turnover Gross Margin 0.68 0.66 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31 32 Return on Sales 0.53 0.52 Return on Equity 1.25 1.60 Return on Assets 1.01 1.08 Balance sheet 2015 Balance Sheet 2016 Income Statement 2016 Ratio Analysis Milestone Two Inst + A B D E F G H 1 j Balance Sheet As of December 31, 2015 "31,20 Assets Current Assets: Cash Accounts Receivable Baking Supplies Merchandise Inventory Prepaid Rent Prepaid Insurance Misc. Supplies Liabilities and Owners' Equity Current Liabilities: Accounts Payable Wages Payable Interest Payable 15086.84 1118.83 121.53 31507.58 35118.97 8042.23 580.27 1215.32 810.21 40.51 Total Current Assets 77,315.09 Total Current Liabilities 16,327.20 3 Long Term/Fixed Assets: Baking Equipment Accumulated Deprecia Net Fixed assets Long Term Liabilities: Notes Payable 10,000.00 Total Long Term Liabilities: 10,000.00 6000 -677.79 5,322.21 Total Liabilities: 26,327.20 Common Stock Retained Earnings 20,000.00 36,310.10 5 7 Total Equity 56,310.10 3 9 Total Assets: 82,637.30 Total Liabilities & Equity 82,637.30 B D EF G . 1 J Peyton Approved Balance Sheet As of December 31, 2016 sets Liabilities and Owners' Equity Current Liabilities: Accounts Payable Wages Payable Interest Payable 16,970.00 1,532.80 166.50 Current Assets: Cash Accounts Receivable Baking Supplies Merchandise Inventory Prepaid Rent Prepaid Insurance Misc. Supplies 43,165.39 42,633.00 7,318.86 794.97 1.665.00 1,110.00 55.50 Total Current Assets 96,742.72 Total Current Liabilities 18,669.30 Long Term Liabilities: Notes Payable Total Long Term Liabilities: 15,000.00 15,000.00 Long Term/Fixed Assets: Baking Equipment Accumulated Depreciation Net Fixed assets 8,000.00 -928.58 7,071.42 Total Liabilities: 33,669.30 Common Stock Retained Earnings 20,000.00 50,144.84 Total Equity 70,144.84 Total Assets: 103,814.14 Total Liabilities & Equity 103,814.14 B E G H H x - M Peyton Approved Income Statement for Year Ended 12/31/2016 214,256.48 770.76 215,027.24 Bakery Sales Merchandise Sales Total Revenues Cost of Goods Sold - Baked Cost of Goods Sold - Merchandise Total Cost of Goods Sold Gross Profit 73,159.59 549.64 73,709.23 141,318.01 Operating Expenses: Rent Expense Wages Expense Misc. Supplies Expense Business License Expense Misc. Expense Depreciation Expense Insurance Expense Advertising Expense Interest Expense Telephone Expense Total Operating Expenses: 15,694.23 6,821.76 1,668.18 1,307.85 871.9 433.36 697.52 740.74 523.14 313.88 8366.541 29,072.56 Net Income 112,245.45 Balance sheet 2015 Balance Sheet 2016 Income Statement 2016 Ratio Analysis Milestone Two Ins +
