I have got this question incorrect 5 times Experts was not able to figure out the correct equation culationsOSelect the images below to enlarge.Balance SheetCurrent Assets0InvestmentsF5Murawski CompanyBalance SheetDecember 31doEt%5Cash and cash equivalentsAccounts receivable (net)Current liabilitiesInventoryPrepaid expensesTotal current assetsProperty, plant, and equipmentIntangibles and other assetsTotal assetsMurawski CompanyIncome StatementFor the Years Ended December 31Sales Revenue$900410Long-term liabilitiesStockholder's equity-common1.0301,040Total liabilities and stockholder's equity $2,340 $2,210Costs and expensesIncome StatementCost of goods soldSelling and Administrative expensesInterest expenseTotal costs and expensesIncome before income taxes2022F6A6$3304704601201,380Y10420530$2,340Income tax expenseNet Income20222021$3,800&79552,400$3604003901601,310253,38010380510$2.210420126$294$7903802021$3,4608902,330203,240F8U22066$154W*8Calculate the 2021 Inventory Turnover ratio.Use whole numbers rounded to 2 decimalplaces, if needed, as seen in the examplebelow.F915008prt sc(9F10=Inventory Turnover Ratio 2021Click the check mark to check your answers.Fields with incorrect responses will beremoved so you can try again.OExample800homeF110end=P1.88F12insert{[|| +=9:34 PM12/19/2022delete}backs]

The Inventory Turnover ratio is the measure of how efficiently a company uses its inventory by…

culations Select the images below to enlarge. Balance Sheet Murawski Company Balance Sheet December 31 Current Assets Investments Cash and cash equivalents Accounts receivable (net) Current liabilities Inventory Prepaid expenses Total current assets Property, plant, and equipment Intangibles and other assets Total assets Long-term liabilities Stockholder's equity-common Total liabilities and stockholder's equity Sales Revenue 2022 Murawski Company Income Statement For the Years Ended December 31 Costs and expenses Cost of goods sold Selling and Administrative expenses Interest expense Total costs and expenses Income before income taxes $330 470 460 120 1,380 Income Statement 10 420 Income tax expense Net Income 530 $2,340 2021 $900 $790 410 380 1.030 1,040 $2.340 $2.210 2022 $3,800 955 2,400 25 3.380 $360 400 390 160 1,310 420 10 380 510 $2,210 126 $294 2021 $3,460 890 2,330 20 3,240 220 66 $154 Calculate the 2021 Inventory Turnover ratio. Use whole numbers rounded to 2 decimal places, if needed, as seen in the example below. 1500 8 = Example 800 Inventory Turnover Ratio 2021 ÷ = 1.88 Click the check mark to check your answers. Fields with incorrect responses will be removed so you can try again.

culations Select the images below to enlarge. Balance Sheet Murawski Company Balance Sheet December 31 Current Assets Investments Cash and cash equivalents Accounts receivable (net) Current liabilities Inventory Prepaid expenses Total current assets Property, plant, and equipment Intangibles and other assets Total assets Long-term liabilities Stockholder's equity-common Total liabilities and stockholder's equity Sales Revenue 2022 Murawski Company Income Statement For the Years Ended December 31 Costs and expenses Cost of goods sold Selling and Administrative expenses Interest expense Total costs and expenses Income before income taxes $330 470 460 120 1,380 Income Statement 10 420 Income tax expense Net Income 530 $2,340 2021 $900 $790 410 380 1.030 1,040 $2.340 $2.210 2022 $3,800 955 2,400 25 3.380 $360 400 390 160 1,310 420 10 380 510 $2,210 126 $294 2021 $3,460 890 2,330 20 3,240 220 66 $154 Calculate the 2021 Inventory Turnover ratio. Use whole numbers rounded to 2 decimal places, if needed, as seen in the example below. 1500 8 = Example 800 Inventory Turnover Ratio 2021 ÷ = 1.88 Click the check mark to check your answers. Fields with incorrect responses will be removed so you can try again.

College Accounting, Chapters 1-27

23rd Edition

ISBN:9781337794756

Author:HEINTZ, James A.

Publisher:HEINTZ, James A.

Chapter24: Analysis Of Financial Statements

Section: Chapter Questions

Problem 1MP

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