Weekly Assignment 3 Question 3 of 10 - / 1 Current Attempt in Progress ________________________________________ Consider the following income statement data for Carla Vista Inc.: 2024 2023 Sales revenue $99300 $89800 Less: Cost of goods sold 48100 54900 Gross profit 51200 34900 Less: Selling and administration costs 24825 18200 Net Income $26375 $16700 The common-size percentage for selling and administration costs in 2024 was Select answer from the options below 48.5% 25.0% 23.5% 94.1% Attempts: 0 of 3 used Submit Answer Weekly Assignment 3 Question 4 of 10 - / 1 ________________________________________ Consider the following income statement data for Barolo Inc.: 2024 2023 Sales revenue $97,300 $86,200 Less: Cost of goods sold 45,600 53,400 Gross profit 51,700 32,800 Less: Selling and administration costs 22,500 18,300 Net Income $29,200 $14,500 Based on common-size analysis, which of the following statements is correct? Select answer from the options below Net income as a percent of sales declined in 2024. The company's cost to sales ratio improved in 2024. The increase in sales revenue in 2024 was caused by higher selling and administrative expenses. The increase in gross profit in 2024 was due to increased sales. eTextbook and Media Save for Later Attempts: 0 of 3 used Submit Answer Weekly Assignment 3 Question 5 of 10 - / 1 ________________________________________ The following data was taken from the accounting records of Splish Brothers Corporation: 2024 2023 Total assets $967000 $897000 Total liabilities 276000 242000 Preferred shares 87600 87600 Common shares 303000 303000 Retained earnings 300400 264400 Additional data: Net income 147000 Interest expense 26000 Sales revenue 981000 The return on assets for 2024 is Select answer from the options below 18.8% 15.8% 16.8% 17.8% eTextbook and Media Save for Later Attempts: 0 of 3 used Submit Answer Weekly Assignment 3 Question 6 of 10 - / 1 ________________________________________ The following data was taken from the accounting records of Whispering Winds Corporation: 2024 2023 Total assets $961000 $891000 Total liabilities 277000 247000 Preferred shares 77700 77700 Common shares 310000 310000 Retained earnings 296300 256300 Additional data: Net income 149000 Interest expense 29800 Sales revenue 990000 The return on equity for 2024 is Select answer from the options below 43.7% 22.4% 22.7% 21.0% eTextbook and Media Save for Later Attempts: 0 of 3 used Submit Answer Weekly Assignment 3 Question 7 of 10 ________________________________________ Consider the following income statement data for Wildhorse Inc.: 2024 2023 Sales revenue $97500 $89900 Less: Cost of goods sold 46100 56800 Gross profit 51400 33100 Less: Selling and administration costs 22800 18800 Net Income $28600 $14300 What was the 2024 profit margin closest to? Select answer from the options below 15.9% 29.3% 52.7% 23.4% eTextbook and Media Save for Later Attempts: 0 of 3 used Submit Answer Weekly Assignment 3 Question 8 of 10 - / 1 ________________________________________ The financial data for Cullumber Foods Inc. and Ivanhoe Enterprises Ltd. for the current year are as follows (amounts in thousands): Annual Sales Accounts Receivable Jan. 1 Accounts Receivable Dec. 31 Cullumber Foods $60,310 $6,650 $7,670 Ivanhoe Enterprises 29,430 1,850 1,940 (a) Calculate the accounts receivable turnover for each company assuming that all sales are on account. (Round answers to 1 decimal place, e.g. 18.4.) Cullumber Foods Ivanhoe Enterprises Accounts receivable turnover enter a number of times rounded to 1 decimal place times enter a number of times rounded to 1 decimal place times eTextbook and Media Save for Later Attempts: 0 of 3 used Submit Answer (b) The parts of this question must be completed in order. This part will be available when you complete the part above. (c) The parts of this question must be completed in order. This part will be available when you complete the part above. Weekly Assignment 3 Question 9 of 10 - / 1 The financial data for Cranes Fresh Fruits Incorporated and Cullumbers Supermarket Ltd. for the current year are as follows: Annual Cost of Goods Sold Inventory Jan. 1 Inventory Dec. 31 Cranes Fresh Fruits $9,988,280 $696,900 $709,900 Cullumbers Supermarket 51,995,125 4,970,700 971,600 (a) Calculate the inventory turnover for each company. (Round answers to 1 decimal place, e.g. 18.4.) Cranes Fresh Fruits Cullumbers Supermarket Inventory turnover enter a number of times rounded to 1 decimal place times enter a number of times rounded to 1 decimal place times eTextbook and Media Save for Later Attempts: 0 of 3 used Submit Answer (b) The parts of this question must be completed in order. This part will be available when you complete the part above. Weekly Assignment 3 Question 10 of 10 - / 1 ________________________________________ Information on the activities of Crane Toys Ltd. is as follows: 2020 2021 2022 2023 2024 Cost of goods sold $891,370 $1,042,120 $1,137,700 $1,308,830 $1,436,810 Average inventory 131,320 157,970 213,670 322,870 459,380 (a) Do a trend analysis of the inventory turnover for each year. Also calculate the days to sell inventory ratio for the respective years. (Round inventory turnover to 2 decimal places, e.g. 18.42 and number of days to 1 decimal place, e.g. 13.6.) Inventory Turnover Number of Days 2020 enter the inventory turnover rounded to 2 decimal places enter a number of days rounded to 1 decimal place days 2021 enter the inventory turnover rounded to 2 decimal places enter a number of days rounded to 1 decimal place days 2022 enter the inventory turnover rounded to 2 decimal places enter a number of days rounded to 1 decimal place days 2023 enter the inventory turnover rounded to 2 decimal places enter a number of days rounded to 1 decimal place days 2024 enter the inventory turnover rounded to 2 decimal places enter a number of days rounded to 1 decimal place days eTextbook and Media Save for Later Attempts: 0 of 3 used Submit