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Use the financial statements of Heifer Sports Inc. to find the information below for Heifer. (Use 365 days a year. Round all answers to 2
Use the financial statements of Heifer Sports Inc. to find the information below for Heifer. (Use 365 days a year. Round all answers to 2 decimal places except $ amounts.)
Income Statement Sales Cost of goods sold Depreciation Selling & admin. expenses EBIT Interest expense Taxable income Taxes 2017 $ 5,650,000 2,950,008 291,200 1,560,000 $ 848,800 146,000 $ 702,800 315,400 $ 387,400 Net income Balance Sheet, Year-End Assets 2017 2016 Cash Accounts receivable Inventory $47,300 640,000 475,100 1,162,400 $ 60,000 1,037,500 721,700 Total current assets Fixed assets 1,819,20a 4,231,000 3.024000 Total assets $ 4,186,400 $ 6,05e,200 Liabilities and Stockholders' Equity Accounts payable Short-term debt $ 332,500 493,00e $ 825,500 $ 705,000 863,300 $ 1,568,300 2, 205,1003,453,50e $ 5,021,800 Total current liabilities Long-term bonds Total liabilities Common stock Retained earnings $ 3,030,600 $ 313,800 842,000 1,155,800 $ 4,186,400 5313,800 714,600 1,028,400 $ 6,050,200 Total stockholders' equity Total liabilities and stockholders' equity a. Inventory turnover ratio in 2017 b. Debtlequity ratio in 2017 c. Cash flow from operating activities in 2017 d. Average collection period e. Asset turnover ratio f. Interest coverage ratio g. Operating profit margin h. Return on equity j. Compound leverage ratio k. Net cash.provided by.operating.activitiesStep by Step Solution
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