View the 2013 Annual Report for the Ford Motor Company, a Fortune 50 company, linked here as

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View the 2013 Annual Report for the Ford Motor Company, a Fortune 50 company, linked here as well as on the Course Information page. Using this report, answer the following questions:
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1. What was the gross profit for 2013? For 2012?
2. How much interest expense was incurred in 2013? In 2012?
3. What were the total accounts receivable (net) at the end of 2013? At the end of 2012?
4. Assuming that all revenues were net credit sales, and that the total accounts receivable (net) at the end of 2011 were $8,281 million, compute the receivables turnover for 2013 and 2012. Round your answer to two decimal places. What is your evaluation of the ratio and the difference between the two years?
5. Compute the inventory turnover ratio for 2013 and 2012 using the ending inventory instead of the average inventory. What is your evaluation of the difference?
6. What was the total amount of inventories on December 31, 2013 and 2012? What were the principal categories of inventory on these dates?
7. What was the amount of the current assets on December 31, 2013?
8. What were the total debt and debt components at the end of 2013?
Inventory Turnover Ratio
Inventory Turnover RatioThe inventory turnover ratio is a ratio of cost of goods sold to its average inventory. It is measured in times with respect to the cost of goods sold in a year normally.    Inventory Turnover Ratio FormulaWhere,...
Ending Inventory
The ending inventory is the amount of inventory that a business is required to present on its balance sheet. It can be calculated using the ending inventory formula                Ending Inventory Formula =...
Accounts Receivable
Accounts receivables are debts owed to your company, usually from sales on credit. Accounts receivable is business asset, the sum of the money owed to you by customers who haven’t paid.The standard procedure in business-to-business sales is that...
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Fundamentals of Financial Accounting

ISBN: 978-0078025914

5th edition

Authors: Fred Phillips, Robert Libby, Patricia Libby

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