Question
****************************THIS has to be done by 6PM TONIGHT!!!************* Question: I need these equations done for a 2015 Comparative Income Statement and Comparative Balance sheet and
****************************THIS has to be done by 6PM TONIGHT!!!*************
Question:I need these equations done for a 2015 Comparative Income Statement and Comparative Balance sheet and I need the work shown for each equation . These are the equations
Working Capital-Working capital = current assets - current liabilities
Current Ratio-Tocalculatethe current ratio, divide current assets by current liabilities.
Quick Ratio-Quick ratio = (current assets - inventories) / current liabilities
Accounts Receivable Turnover-net credit sales/average accounts recievable
Number of Day's Sales in Receivables-The calculation for determining the days' sales in accounts receivable is the number of days in the year (usually 360 or365days is used) divided by the accounts receivable turnover ratio for a specific year.
Average Daily Sales-. Divide your sales generated during theaccountingperiod by the number ofdaysin the period to calculate your average daily sales.
Inventory Turnover-Theinventory turnover ratiois calculated by dividing the cost of goods sold for a period by the averageinventoryfor that period.
Number of Day's Sales in Inventory-The calculation of the days' sales in inventory is: the number of days in a year (365or360days) divided by the inventory turnover ratio.
Average Cost of Goods Sold-beginning inventory + the cost of goods purchased ormanufactured= cost of goods available - ending inventory.
This is the assignment- Determine the following measures for 2015 by using the Comparative Income Statement and Comparative Balance sheet.
- Working Capital
- Current Ratio
- Quick Ratio
- Accounts Receivable Turnover
- Number of Days' Sales in Receivables
- Inventory Turnover
- Number of Days' Sales in Inventory
- Gross Profit %
- Net Income %
- EBITDA %
- Income Tax %
Attached are the financial statements
****************************THIS has to be done by 6PM TONIGHT!!!*************
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