Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

please complete the entire chart. it is one question. i will thumbs up for complete work (complete entire chart) and correct answers :) Financial statements

image text in transcribed
image text in transcribed
please complete the entire chart. it is one question. i will thumbs up for complete work (complete entire chart) and correct answers :)
Financial statements for Askew Industries for 2021 are shown below (In thousands): 2021 Income Statement Net salas $ 8,900 Cost of goods sold (6,275) Gross profit 2,625 Operating expenses (2,075) Interest expense (190) Income tax expense (144) Net income s 216 Comparative Balance Sheets Dec. 31 2021 2020 Assets Cash Accounts receivable Inventory Property, plant, and equipment (net) $ 590 590 790 1,900 $3,870 $ 490 390 590 2,000 $3.470 Liabilities and Shareholders' Equity Current liabilities Bonds payable Common stock Retained earnings $1,040 1,350 590 890 $3,870 790 1350 599 740 $3,420 Required: Calculate the following ratios for 2021. (Consider 365 days a year. Do not round intermediate calculations and round your final answers to 2 decimal places.) Required: Calculate the following ratios for 2021. (Consider 365 days a year. Do not round Intermediate calculations and round your final answers to 2 decimal places.) days days 1. Inventory tumover ratio 2. Average days in inventory 3. Receivables turnover ratio 4. Average collection period 5. Asset turnover ratio 6. Profit margin on sales 7. Return on assets 8. Return on equity 9. Equity multiplier 10. Return on equity (using the DuPont framework) % % % times %

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

More Books

Students also viewed these Accounting questions

Question

Describe the types of power that effective leaders employ

Answered: 1 week ago

Question

Describe how leadership styles should be adapted to the situation

Answered: 1 week ago