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Selected information from the comparative financial statements of Marigold Company for the year ended December 31 appears below: 2022 2021 Accounts receivable (net) $ 171,000
Selected information from the comparative financial statements of Marigold Company for the year ended December 31 appears below:
2022 | 2021 | |||||
---|---|---|---|---|---|---|
Accounts receivable (net) | $ | 171,000 | $ | 217,000 | ||
Inventory | 122,500 | 169,000 | ||||
Total assets | 1,029,000 | 800,000 | ||||
Current liabilities | 136,000 | 112,000 | ||||
Long-term debt | 415,000 | 298,000 | ||||
Net credit sales | 911,800 | 719,000 | ||||
Cost of goods sold | 670,450 | 535,000 | ||||
Interest expense | 39,000 | 26,000 | ||||
Income tax expense | 62,200 | 29,000 | ||||
Net income | 125,000 | 84,000 | ||||
Net cash provided by operating activities | 251,000 | 131,000 |
Answer the following questions relating to the year ended December 31, 2022. (Round answers to 1 decimal place, e.g. 5.2 or 15.2%.)
1. | The inventory turnover for 2022 is Enter the inventory turnover in times rounded to 1 decimal place times. | |
2. | The number of times interest earned in 2022 is Enter the number of times interest rounded to 1 decimal place times. | |
3. | The accounts receivable turnover for 2022 is Enter the accounts receivable turnover in times rounded to 1 decimal place times. | |
4. | The return on assets for 2022 is Enter the return on assets in percentages rounded to 1 decimal place % |
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