Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

solve asap 20min abon Status Income Statement information - for the year ending December 31, 2020: Net Sales Cost of Goods Sold Interest expense income

image text in transcribed

solve asap 20min

abon Status Income Statement information - for the year ending December 31, 2020: Net Sales Cost of Goods Sold Interest expense income tax expense Total operating expenses Balance sheet information - December 31: 55,568 122 3122 23 248 256 685 442 1.100.000 Cash and short-term investments Accounts Receivable (net) Inventories Prepaid Expenses and other current assets Current portion of long term debt Accounts payable Dividends Payable Income taxes payable Bond payable Statement of Cash Flow information - for the year ending December 31, 2020: Cash Flows from Operating Activates Cash Flows from Financing Activities 2020 2019 $789 215 5621 842 388245 442 268 257,217 242258 169 568 293 139 $181,672 $145, 135 288 286 376 562 354 216 368 850 412,423 213 285 978,456 745 855 $964 268 1,282,523 Required: Use the above information to calculate the following for Blanton Corporation: 1. Operating Cash Flow to Current Liabilities ratio in 2020. (Comment on this result, is it good or bad, why?). 2. Day's inventory outstanding at the end of 2020. 3. Days accounts payable outstanding at the end of 2020. 4. 2020 accounts payable Turnover ratio. 5. Interest Coverage Ratio at the end of 2020. (Comment on this result, is it the higher the better or vice versa? Why?)

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_2

Step: 3

blur-text-image_3

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

The Audit Value Factor Making Managements Head Turn Internal Audit And IT Audit Series

Authors: Daniel Samson

1st Edition

1138198129, 978-1138198128

More Books

Students also viewed these Accounting questions