2 Problem 4-163 The following information (in $ millions) comes from the Annual Report of Saratoga Springs Co. for the year ending 12/31/2018 Net sales Cost of goods sold Sales, general & administrative Interest expense Income before tax Net income Year ended 12/31/2018 $8,129 4,947 2,089 596 497 638 Cash and cash equivalents Receivables, net Inventories Land, buildings and equipment at cost, net Total assets Total current liabilities Long-term debt Total liabilities Total stockholders' equity 12/31/2018 $ 1,155 1,198 $ 12/31/2017 82 844 1,235 699 13,680 4,824 $17,260 $5,649 $ 5,927 $2,389 5,771 2,401 $11,698 $4,790 $ 5,562 $ 859 Required: Compute the average days in inventory for 2018. (Round your final answer to one decimal place.) Answer is complete but not entirely correct. Average days in inventory 5.1 days 11 Problem 4-166 The following information is provided in the 2018 annual report to shareholders of paris-perfume.com: Required: Compute the missing amount in the paris-perfume.com financial statement information. (Do not round your Intermediate calculations. Round your answer for Net sales to 2 decimal places.) Answer is complete but not entirely correct. December 31, 2018 December 31, 2017 Accounts receivable S 224 million S 144 million Inventory S 76 million S 36 million Other assets S 264 million S 176 million Total assets S 564 million S 356 million Total liabilities S 316 million S 144 million Total stockholders' equity S 248 million S 212 million For the year ended Dec. 31, 2018 Net sales S 920.00 billion Cost of goods sold S 560 million Net income 48 million Return on assets 10 % Receivables turnover 5.0 Inventory turnover 10.0 Asset turnover 2.8 Return on stockholders' equity 20 96 Profit margin on sales 5 96 14 Problem 4-153 Missoula Inc. reported the following selected financial statement data: Cash Accounts receivable (net). Inventory Plant assets (net) Total assets Liabilities Shareholders' equity Net sales Cost of goods sold Net income Dec 31, 2017 Dec 31, 2018 $ 36,000 $ 41,000 54,000 64,000 74,000 78,000 216,000 230,000 417,000 401,000 151,000 151,000 272,000 256,000 320,000 507,400 226,000 292,000 26,000 37,000 Required: Compute the average collection period for 2018. (Round your answer to one decimal place.) Answer is complete but not entirely correct. Average collection period 42.5 days 15 Problem 4-151 Missoula Inc. reported the following selected financial statement data: Cash Accounts receivable (net) Inventory Plant assets (net) Total assets Liabilities Shareholders' equity Net sales Cost of goods sold Net income Dec 31, 2017 Dec 31, 2018 $ 36,000 54,000 $ 41,000 64,000 78,000 74,000 216,000 230,000 417,000 401,000 151,000 151,000 272,000 256,000 346,000 354,000 401,000 456,000 26,000 37,000 Required: Compute the inventory turnover ratio for 2018. Answer is complete but not entirely correct. Inventory turnover ratio