elect the images below to enlarge. Balance Sheet Murawski Company Balance Sheet December 31 rent Assets nvestments Cash and cash equivalents Accounts receivable (net) Inventory Prepaid expenses Total current assets Property, plant, and equipment Intangibles and other assets Total assets Current liabilities 2022 Murawski Company Income Statement For the Years Ended December 31 Sales Revenue Costs and expenses $900 Long-term liabilities 410 Stockholder's equity - common 1.030 Total liabilities and stockholder's equity $2,340 Income Statement Cost of goods sold Selling and Administrative expenses Interest expense Total costs and expenses Income before income taxes $330 $360 470 400 460 390 120 160 1,380 1,310 10 420 530 $2.340 Income tax expense Net Income 2021 2022 $3,800 955 2,400 25 3.380 420 126 $294 10 380 510 $2,210 $790 380 1,040 $2,210 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 = Example 800 H 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.

elect the images below to enlarge. Balance Sheet Murawski Company Balance Sheet December 31 rent Assets nvestments Cash and cash equivalents Accounts receivable (net) Inventory Prepaid expenses Total current assets Property, plant, and equipment Intangibles and other assets Total assets Current liabilities 2022 Murawski Company Income Statement For the Years Ended December 31 Sales Revenue Costs and expenses $900 Long-term liabilities 410 Stockholder's equity - common 1.030 Total liabilities and stockholder's equity $2,340 Income Statement Cost of goods sold Selling and Administrative expenses Interest expense Total costs and expenses Income before income taxes $330 $360 470 400 460 390 120 160 1,380 1,310 10 420 530 $2.340 Income tax expense Net Income 2021 2022 $3,800 955 2,400 25 3.380 420 126 $294 10 380 510 $2,210 $790 380 1,040 $2,210 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 = Example 800 H 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.

Survey of Accounting (Accounting I)

8th Edition

ISBN:9781305961883

Author:Carl Warren

Publisher:Carl Warren

Chapter9: Metric-analysis Of Financial Statements

Section: Chapter Questions

Problem 9.3.1P: Effect of transactions on current position analysis Data pertaining to the current position of...

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