Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

(Round answers to 1 decimal place, e.g. 5.2:1 or 5.2% or 5.2. Enter negative answers preceeding either - sign, e.g. -45 or in parentheses, e.g.

image text in transcribed

image text in transcribed

(Round answers to 1 decimal place, e.g. 5.2:1 or 5.2% or 5.2. Enter negative answers preceeding either - sign, e.g. -45 or in parentheses, e.g. (45).)

Condensed statement of financial position and income statement data for Bellevue Corporation follow: 2016 BELLEVUE CORPORATION Statement of Financial Position December 31 2018 2017 Assets Current assets Cash $25,300 $20,100 Accounts receivable (net) 55,300 Inventory 100,400 84,600 Total current assets 181,000 150,100 Long-term investments 53,000 74,300 Property, plant, and equipment (net) 501,000 370,200 Total assets $735,000 $594,600 Liabilities and Shareholders' Equity Liabilities Current liabilities $84,700 $80,600 Non-current liabilities 155,500 85,100 Total liabilities 240,200 165,700 Shareholders' equity Common shares 328,900 302,700 Retained earnings 165,900 126,200 Total shareholders' equity 494,800 428,900 Total liabilities and shareholders' equity $735,000 $594,600 $17,900 48,300 63,800 130,000 44,600 258,800 $433,400 $30,300 20,000 50,300 299,600 83,500 383,100 $433,400 BELLEVUE CORPORATION Income Statement Year Ended December 31 2018 Sales $744,700 Less: Sales returns and allowances 40,100 Net sales 704,600 Cost of goods sold 454,200 Gross profit 250,400 Operating expenses 150,900 Income from operations 99,500 Interest expense 10,100 Income before Income tax 89,400 Income tax expense 17,880 Net income $71,520 2017 $499,400 50,000 449,400 298,500 150,900 83,200 67,700 4,110 63,590 12,718 $50,872 Additional information: 1. The allowance for doubtful accounts was $4,900 in 2016, $4,600 in 2017, and $5,000 in 2018. 2. All sales were credit sales. 3. Net cash provided by operating activities was $120,600 in 2017 and $103,000 in 2018. 4. Net capital expenditures were $150,900 for 2017 and $181,000 for 2018. x Your answer is incorrect. Try again. Calculate the following ratios for 2017 and 2018: (Round answers to 1 decimal place, e.g. 5. 2018 2017 1. Current ratio 2. Receivables turnover times times 3. Inventory turnover times times 4. Debt to total assets 5. Times interest earned times times 6. Free cash flow 7. Gross profit margin 8. Profit margin 9. Asset turnover times times 10. Return on assets

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

What are the different techniques used in decision making?

Answered: 1 week ago