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The following information is provided in the 2018 annual report to shareholders of The BizStore: Required: Compute the missing amount in the BizStore financial statement
The following information is provided in the 2018 annual report to shareholders of The BizStore: Required: Compute the missing amount in the BizStore financial statement information. (Round your intermediate calculations and final answers to the nearest whole number. Round ratios and "Percentage" values to 1 decimal place.)
Problem 4-167
The following information is provided in the 2018 annual report to shareholders of The BizStore:
December 31, 2018 December 31, 2017 Accounts receivable $ 15 million 34 million 259 million Inventory $ $ 29 million Total assets Total stockholders' equity $ $ 139 million Net sales $ 124 million Cost of goods sold 102 Net income $ 23 Average collection period Average days in inventory 31.2 days 113.0 days Equity multiplier 1.8 10.0 % 18.3 % Return on stockholders' equity Profit margin on sales ROA % %24 %24 %24
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