Answered step by step
Verified Expert Solution
Question
00
1 Approved Answer
The comparative statements of Sheffield Company are presented here. begin{tabular}{lrr} hline Income before income taxes & 270,800 & 280,200 Income tax expense & 81,512
The comparative statements of Sheffield Company are presented here. \begin{tabular}{lrr} \hline Income before income taxes & 270,800 & 280,200 \\ Income tax expense & 81,512 & 78,000 \\ Net income & $189,288 & $202,200 \\ \hline \end{tabular} All sales were on credit. Net cash provided by operating activities for 2022 was $240.000. Capital expenditures we cash dividends paid were $86,488 Compute the following ratios for 2022. (Round Earnings per share, Current ratio and Asset turnover to 2 decimal places, and all other answers to 1 decimal place, eg. 6.8 or 6.8%. Use 365 days for calculation.) (c) Return on assets \% (d) Current ratio 11 (e) Accounts receivable turnover times (f) Average collection period days (g) Inventory turnover times (h) Days in inventory days (i) Times interest earned times (j) Asset turnover times (k) Debt to assets ratio (g) Inventory turnover times (h) Days in inventory days (i) Times interest earned times (j) Asset turnover times (k) Debt to assets ratio % (I) Free cash flow All sales were on credit. Net cash provided by operating activities for 2022 was $240,000. Capital expenditures were $146,000, and cash dividends paid were $86,488 Compute the following ratios for 2022. (Round Earnings per share, Current ratio and Asset tumover to 2 decimal places, es. 1.65 or 1.65:1, and all other answers to 1 decimal place, eg. 6.8 or 6.8%. Use 365 days for calculation.)
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access with AI-Powered 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