The Jona 2018 income statement and balance sheet follows. (Click the icon to view the assets section of the balance sheet.) (Click the icon to view the liabilities and stockholders' equily sections of the balance sheet.) (Click the icon to view the income statement.) Read the requirements a. Use the income statement and the balance sheet to calculate Jona's rate of inventory turnover and days' inventory outstanding for 2018 Begin by selecting the formula and then enter the amounts to calculate inventory turnover. (Enter currency amounts in millions as given in the question. Round the inventory turnover to two decimal places, XXX.) Inventory turnover Data Table 2017 9,250 5,100 Jona Corporation Statements of Income (Adapted) Year Ended December 31, 2018 and 2017 (Dollar amounts in millions) 2018 Net revenues $ 8.330 $ 2670 Cost of goods sold Gross profit 5,660 General and administrative expenses 3,400 Income from operations 2.260 565 Intereat expense, net Income before income taxes 1.895 862 Provision for income taxes S 833 $ Net income 4,150 3,600 550 110 440 200 240 Choose from any list or enter any number in the input fields and then click Check Answer ? Print Done 6 parts remaining C Check Answer The Jon i Data Table Jona Corporation Balance Sheet (Adpated) December 31, 2018 and 2017 Read the a. Use to Increase (Decrease) Amount Percentage Jona Corportion Balance Sheets (Adapted) December 31, 2018 and 2017 2018 2017 Begin by (Dollar amounts in millions) Liabilities and Stockholders' Equity Current liabilities: Accounts payable Income tax payable Short-term debt Increase (Decrease) Amount Percentage 2018 2017 S 930 S 850 S S 80 94% 30 85 (55) 65 (64.7) 68.4 160 95 85 Dollar amounts in millions) Assets Current assets: Cash and cash equivalents Short-term investments Receivables, net Inventorios $ 950 S 30.5% 60 Other (5) (7.7) 1.240 $ 25 55 Total current liabilities 1,180 1,095 85 200 290 (90) 7.8 15.3 (54.5) (31.0) 156.0 Long-term debt 3,105 1,140 2,692 1,040 413 100 78 50 302 Other liabilities 9.6 Prepaid expenses and other assets 254 (15.9) (48) 200 5,425 4.827 598 124 1.847 1,647 12.1 0.1 3.036 1,050 2 Total current sets Property, plant, and equipment, net Intangible assets Other assets 2 Total liabilities Stockholders' equity: Common stock Retained earnings Accumulated other comprehensive (ons) Total stockholders' equity 3,034 858 740 22.4 2 192 100 494 (8.1) 840 1,526 (180) () (134) 30 1,660 (210) 13.5 14.3 $ 6.773 $ 6,279 S Total assets 7.9% 1,348 1,452 (104) (7.2) $ 6,773 S Total liabilities and stockholders' equity 6,279 $ 494 7.9% Print Done Print Done Choose ? ? 6 6 parts remaining Clear All Check
