Answered step by step
Verified Expert Solution
Question
1 Approved Answer
Use these financial statements to answer the following numerical questions. Balance Sheet 2019 2020 2019 2020 Cash $ 2,500 $3,100 Accounts payable $ 9,400 $11,600
Use these financial statements to answer the following numerical questions. Balance Sheet 2019 2020 2019 2020 Cash $ 2,500 $3,100 Accounts payable $ 9,400 $11,600 Accounts receivable 8,200 10,600 Long-term debt 31,800 27,200 Inventory 19,400 22,800 Common stock 45,200 51,500 Net fixed assets 64,900 66,200 Retained earnings 8,600 12,400 Total assets $95,000 $102,700 Total liabilities and equity $95,000 $102,700 Income Statement Net Sales $128,400 Costs 101,600 Depreciation __7400 19,400 EBIT Interest 2,100 17,300 Taxable income Taxes 3,633 $13,667 Net Income Income Statement Net Sales $ 128,400 Costs 101,600 Depreciation 7,400 EBIT 19,400 Interest 2.100 Taxable income 17,300 Taxes 3,633 Net Income $13,667 What is common size ratio for net fixed assets in 2020? (Round your answer to 2 decimal places) What is the current ratio in 2020? (Round your answer to 2 decimal places) What is the return on equity (in percent) in 2020? (Round your answer to 2 decimal places) percent How long (in days) does it take to collect receivables in 2020? (Round your answer to integer) (Use average receivable from 2019 and 2020) days
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored 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