Problem 19-1 Use the financial statements of Heifer Sports Inc. to find the information below for Heifer. (Use 365 days a year. Round all answers to 2 decimal places except $ amounts.) Income Statement Sales Cost of goods sold Depreciation Selling & admin. expenses EBIT Interest expense Taxable income Taxes Net income 2017 $ 5,690,000 2,985,000 295, 200 1,581,000 $ 828,800 159,000 $ 669,800 302,400 $ 367,400 2017 2016 Balance Sheet, Year-End Assets Cash Accounts receivable Inventory Total current assets Fixed assets Total assets Liabilities and Stockholders' Equity Accounts payable Short-term debt Total current liabilities Long-term bonds Total liabilities $ 44,900 618,000 458, 800 $ 1,121,700 2,932,000 $ 4,053,700 $ 71,000 1,229,300 855,100 $ 2,155,400 5,028,000 $ 7,183,400 $ 323,400 494,000 $ 817,400 2,035,300 $ 2,852,700 $ 311,900 889,100 $ 1,201,000 $ 4,053,700 $ 854,000 1,047, 300 $ 1,901,300 4,188,500 $ 6,089,800 $ 311,900 781,700 $ 1,093,600 $ 7,183,400 Common stock Retained earnings Total stockholders' equity Total liabilities and stockholders' equity 4.54 2.38 a. Inventory turnover ratio in 2017 b. Debt/equity ratio in 2017 c. Cash flow from operating activities in 2017 d. Average collection period e. Asset turnover ratio days % f. Interest coverage ratio g. Operating profit margin h. Return on equity j. Compound leverage ratio k. Net cash provided by operating activities % Problem 19-1 Use the financial statements of Heifer Sports Inc. to find the information below for Heifer. (Use 365 days a year. Round all answers to 2 decimal places except $ amounts.) Income Statement Sales Cost of goods sold Depreciation Selling & admin. expenses EBIT Interest expense Taxable income Taxes Net income 2017 $ 5,690,000 2,985,000 295, 200 1,581,000 $ 828,800 159,000 $ 669,800 302,400 $ 367,400 2017 2016 Balance Sheet, Year-End Assets Cash Accounts receivable Inventory Total current assets Fixed assets Total assets Liabilities and Stockholders' Equity Accounts payable Short-term debt Total current liabilities Long-term bonds Total liabilities $ 44,900 618,000 458, 800 $ 1,121,700 2,932,000 $ 4,053,700 $ 71,000 1,229,300 855,100 $ 2,155,400 5,028,000 $ 7,183,400 $ 323,400 494,000 $ 817,400 2,035,300 $ 2,852,700 $ 311,900 889,100 $ 1,201,000 $ 4,053,700 $ 854,000 1,047, 300 $ 1,901,300 4,188,500 $ 6,089,800 $ 311,900 781,700 $ 1,093,600 $ 7,183,400 Common stock Retained earnings Total stockholders' equity Total liabilities and stockholders' equity 4.54 2.38 a. Inventory turnover ratio in 2017 b. Debt/equity ratio in 2017 c. Cash flow from operating activities in 2017 d. Average collection period e. Asset turnover ratio days % f. Interest coverage ratio g. Operating profit margin h. Return on equity j. Compound leverage ratio k. Net cash provided by operating activities %
