Answered step by step
Verified Expert Solution
Question
1 Approved Answer
ructure.com Assets Liabilities, Cash 563 Acc. Payable 282 Acc. Receivable 503 Notes payable 79 Inventory 292 Accruals 152 Total CA 1,365 Total CL 520 Net
ructure.com Assets Liabilities, Cash 563 Acc. Payable 282 Acc. Receivable 503 Notes payable 79 Inventory 292 Accruals 152 Total CA 1,365 Total CL 520 Net Fixed Assets 2,142 Long term debt 1,033 Total assets 3,507 Total Liab. 1.553 Equity 1,954 Total Liab. And equity 3,507 Number of shares outstanding is 76.3 shares Price per share is $32.25 Purchases are 70% of the cost of goods sold. Income Statement for Sunlight Company Sales 3.174 Cost of goods sold 2.088 Gross profit 1086 Depreciation 239 Operating profit (EBIT) 842 structure.com Total Liab. And equity 3,507 Number of shares outstanding is 76.3 shares Price per share is $32.25 Purchases are 70% of the cost of goods sold. Income Statement for Sunlight Company Sales 3,174 2,088 Cost of goods sold Gross profit 1086 Depreciation 239 Operating profit (EBIT) 847 Interest 93 Profit before Taxes 754 Taxes 94 Net profit after taxes 660 Preferred stock dividends 10 Earnings available to stockholders 650 Use the table of the balance sheet and income statement in the instruction to calculate the following questions (1-19) Current ration is O 2.30 1.98 times O 2.05 times O 2.63 times Question 2 1.25 pts Quick (Acid-Test) Ratio is O 2.05 times 2.30 2.63 1.89 Inventory turnover is 5.45 times 6.98 times 06.00 times 4.67 times Question 4 1.25 pts Average age of inventory (Days sales of inventory) is 55.90 days 52.29 days 49.90 days 50.34 days Question 5 1.25 pts Average collection period is O 54.34 days O 59.23 days O 57.84 days O 56.78 days Question 6 1.25 pts Average payment period is 65.55 days 70.42 day 73.89 days 67 80 days
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