Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

XYZ provided the following financial information: XYZ Balance Sheet As of 12/31/19 Assets: Liabilities and Equity: Cash and marketable securities $27,513 Accounts payable and accruals

XYZ provided the following financial information:

XYZ Balance Sheet As of 12/31/19
Assets: Liabilities and Equity:
Cash and marketable securities $27,513 Accounts payable and accruals $154,234
Accounts receivable $142,585 Short-term notes payable $22,141
Inventory $215,485 Total current liabilities $176,375
Total current assets $385,583 Long term debt $155,510
Net plant and equipment $604,836 Total liabilities $331,885
Goodwill and other assets $42,422 Common stock $314,796
Retained earnings $386,160
Total assets $1,032,841 Total liabilities and equity $1,032,841

In addition, it was reported that the firm had a net income of: $158,967
and net sales of: $4,325,658

Calculate the following ratios for this firm (Use 365 days for calculation. Round answers to 2 decimal places, e.g. 52.75.):

Current Ratio times
Quick Ratio times
Average Collection Period days
Total Asset Turnover times
Fixed Asset Turnover times

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Analysis For Financial Management

Authors: Robert C. Higgins

5th Edition

0256167036, 9780256167030

More Books

Students also viewed these Finance questions

Question

your ultimate goal upon graduation (i.e., career goals).

Answered: 1 week ago