Excerpts from Stealth Company's December 31, 2021 and 2020, financial statements are presented below: 2021 2020 Accounts receivable $ 45,000 $ 42,000 Inventory 18,000 43,000 Net sales 193,000 188,000 Cost of goods sold 121,000 114,000 Total assets 435,000 417,000 Total stockholders' equity 247,000 227,000 Net income 38,000 36,000 Stealth Company's 2021 inventory turnover is:
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Excerpts from Stealth Company's December 31, 2021 and 2020, financial statements are presented below:
| 2021 | 2020 | ||||
| Accounts receivable | $ | 45,000 | $ | 42,000 | |
| Inventory | 18,000 | 43,000 | |||
| Net sales | 193,000 | 188,000 | |||
| Cost of goods sold | 121,000 | 114,000 | |||
| Total assets | 435,000 | 417,000 | |||
| Total |
247,000 | 227,000 | |||
| Net income | 38,000 | 36,000 | |||
Stealth Company's 2021 inventory turnover is:
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- Ratio Analysis Rising Stars Academy provided the following information on its 2019 balance sheet and state mcnt of cash flows: Long-term debt S 4,400 Interest expense S 398 Total liabilities 8,972 Net income 559 Total assets 38,775 Interest payments 432 Total equity 29,803 Cash flows from operations 1.015 Operating income 1.223 Income tax expenses 266 Income taxes paid 150 Required: Calculate the following ratios for Rising Stars: (a) debt to equity, (b) debt to total assets, (c) long-term debt to equity, (d) times interest earned (accrual basis), and (e) times interest earned (cash basis). (Note: Round answers to three decimal places.) CONCEPTUAL CONNECTION Interpret these results. 3.What does it mean if a bond is callableLeverage Cook Corporation issued financial statements at December 31, 2019, that include the following information: Balance sheet at December 31,2019 Assets $8,000,000 Liabilities $1,200,000 Stockholders' equity (300,000 shares) $6,800,000 Income statement for 2019: Income from operations $1,200,000 Less: Interest expense (100,000) Income before taxes $1,100,000 Less: Income taxes expense (0,30) (330,000) Net income $ 770,000 The levels of assets, liabilities, stockholders' equity, and operating income have been stable in recent years; however, Cook Corporation is planning a 51,800,000 expansion program that will increase income from operations by $350,000 to $1,550,000, Cook is planning to sell 8.5% notes at par to finance the expansion. Required: What earnings per share does Cook report before the expansion?Excerpts from Stealth Company's December 31, 2021 and 2020, financial statements are presented below: 2021 2020 Accounts receivable $ 29,500 $ 43,000 Inventory 32,000 39,000 Net sales (all credit) 197,000 194,000 Cost of goods sold 125,000 118,000 Total assets 426,000 419,000 Total stockholders' equity 244,000 227,000 Net income 37,000 34,000 Stealth Company's 2021 receivables turnover ratio is: Multiple Choice 4.24 times. 14.44 times. 5.43 times. 6.63 times.
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