Answered step by step
Verified Expert Solution
Question
1 Approved Answer
please show work Saved Help S Long-term debt ratio Times interest earned Current ratio Quick ratio Cash ratio Inventory turnover Average collection period 0.3 10.0
please show work
Saved Help S Long-term debt ratio Times interest earned Current ratio Quick ratio Cash ratio Inventory turnover Average collection period 0.3 10.0 1.6 1.0 0.3 3.0 73 days Use the above information from the tables to work out the following missing entries, and then calculate the company's return on equity. Note: Turnover and the average collection period are calculated using start-of-year, not average, values. (Enter your answers in millions. Round intermediate calculations and final answers to 2 decimal places.) INCOME STATEMENT (Figures in S millions) Net sales Cost of goods sold Selling general, and administrative expenses Depreciation Earnings before interest and taxes (EBIT) Interest expense Income before tax Tax (35% of income before tax) 1800 28.00 Prey f 8 HE BALANCE SHEET (Figures in 5 millions) This Year Last Year Assets Cash and marketable securities Accounts receivable $ 28 42 K Inventories 34 $ 104 ces 33 $ 137 $ Total current assets Net property, plant and equipment Total assets Liabilities and shareholders' equity Accounts payable Notes payable Total current liabilities Long-term debt Shareholders' equity Total liabilities and shareholders' equity 20 25.00 $ 35.00 $ 40 60 28 49 137 $ 200.00 $Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started