ABC Manufacturing Company Balance Sheet as at 31 March 2019 2018 750 10,000 12,750 _31,200 53,950 22,500 71,250 (31,200) _ 62.550 116.500 Cash 17,200 46,250 64,200 Accounts receivable Inventory Total current assets Land 27,120 Plant & equipment less accumulated depreciation Total fixed assets 100,000 (32,200) 94.920 159,120 11,500 18,250 29,750 33,700 53,050 116,500 Accounts payable Bank overdraft 24,000 49,500 73,500 27,500 58,120 159.120 Total current liabilities Term loan Sharcholders' funds ABC Manufacturing Company Income Statement for the year ended 31 March 2018 2019 129,000 _77.400 163,000 97.800 65,200 Sales Cost of goods sold Gross profit Expenses: Administrative 51,600 Operating Depreciation Total expenses Eamings before interest & tax Interest Earnings before taxes 21,750 12,900 4,700 39.350 21,750 16,300 10.000 48.050 17,150 12,250 3,500 8,750 4,200 4.550 6,250 10,900 5,232 5.668 Тах Net Income Required: a. Based on the financial statements for ABC Manufacturing, compute the following ratios: Industry Average 1.84 Actual 2019 Actual 2018 Current ratio Acid test ratio .66 Average collection period Inventory turnover 37 days 2.6 times

Comparative balance sheets at December 31, 2020 and 2021 are show for the company below.    2020 2021 Cash 68,200 131,450 accounts receivable  81,400 86,900 Inventory  129,800 136,400 Prepaid expenses  5,500 6,600 Land 0 70,950 Plant assets  264,400 306,900 Accumulated depreciation  (94,600) (88,000) Franchise 35,200 26,400      Total assets $471,900 $677,600       Accounts payable 45,100 58,300 Notes payable  69,300 63,800 Bonds payable 0 141,900 Common stock 275,000 302,500 Additional paid in capital  50,600 61,600 Retained earnings  31,900 49,500   Total liabilities and equity  $471,900 $677,600   Additional Information:1. A fully depreciated plant asset, which originally cost $22,000 and had no salvage value, was sold for $1,100. 2. Bonds payable were issued at par value. One-half of the bonds were exchanged for land; the remaining one-half was issued for cash. 3. Common stock was sold for cash. 4. The only entries in the Retained…

Income Statement: The income statement of Taco Bell company is given for the years 2020 & 2019. 2020 2019 General and administrative expenses 25,000 24,000 Interest expense 1,200 1,500 Net sales $124,000 S138,000 Selling expenses 11,880 12,720 Income taxes $1,109.5 1,883 108 000 95,000 COGS 450 600 Gain on Sale of land l2020 and

Pro Forma Financial Statement Information for Ideko 2014 - 2019 Year 1. Raw Material 2. Depreciation 3. Wages Payable 4. Interest Expense 5. Finished Goods 6. Other Accounts Payable 7. Accounts Receivable 8. Cash Balance 10. Interest Tax $22,170 $30,510 $35,195 $26,420 $21,260 2014 1,973 5,500 1,294 75 4,192 3,360 18,493 6,164 3,736 2015 1,534 5,450 1,433 6,800 4,967 4,099 14,525 7,262 2,796 2016 1,775 5,405 1,695 6,800 5,838 4,953 16,970 8,485 3,364 2017 2,039 6,865 1,941 6,800 6,815 5,938 19,689 9,845 3,748 The amount of net working capital for Ideko in 2017 is closest to: 2018 2,329 7,678 2,211 7,820 7,911 6,900 22,709 11,355 4,513 2019 2,646 7,710 2,570 8,160 9,138 7,878 26,059 13,030 5,678

Genatron Manufacturing Corporatio Balancs Sh出出t 2017 216 ASSETS Cach $41,752 $51,878 Accts. recelvable 260, 499 200,543 Inventory 450,460 Total current assets B02, 735 702,181 Fixed asset, nct 300, 100 $1,202, 735 $1,002, 381 LIABILITIES AND EQUITY Accts. paysble $172,648 $131,068 Bank loan 91,013 91,013 Accrusis 70,000 50, 000 Total current Isbllties 333,661 272.081 Long-term deot, 12% 398,220 290,301 Common stock, $10 par 300,000 Capital surplus 44,555 44,555 Retained crninga 126,299 95,444 Total liabiliiti &oulty 51.202,735 51,002,381 2017 2016 Net sales Cost of peocS So0 388,411 Gross profit E72.274 Experses: General ancasm nistrative 50.000 Market ng cod ost rer cs 44.5E5 Ceprec at cn v (a) Calculate Genatron's dollar amount of net working capital in each year. Interest E5.024 Earnings tetsre taxes 267.055 227.266 2017 2016 Incometaxes 75 145 Net working capital et ncome %24

PLASMA SCREENS CORPORATION Balance Sheets December 31, 2021 and 2020 2021 2020 Assets Current assets: Cash $ 155,100 74,800 87,000 2,400 171,800 88,000 72,800 1,200 Accounts receivable Inventory Prepaid rent Long-term assets: Land 440,000 732,00ө (406, ө00) $1,085,300 440, ө0ө 630,000 252,000) $1,151,800 Equipment Accumulated depreciation Total assets Liabilities and Stockholders' Equity Current liabilities: Accounts payable Interest payable Income tax payable Long-term liabilities: Notes payable Stockholders' equity: 91,000 6,900 6,400 $ 77,800 13,800 4, 200 115,000 230,000 Common stock 660,000 206,000 $1,085,300 660,000 166,000 $1,151,800 Retained earnings Total liabilities and stockholders' equity Additional Information for 2021: 1. Net income is $61,000. 2. The company purchases $102,000 in equipment. 3. Depreciation expense is $154,000. 4. The company repays $115,000 in notes payable. 5. The company declares and pays a cash dividend of $21,000. %24 %24 %24

Abe Manufacturing Corp. decided to expand further by purchasing the net assets of ERB Manufacturing Corp. ERB's statement of financial position at December 31, 2023 follows. Assets Receivables Inventory Plant assets (net) Total assets ERB MANUFACTURING CORP. Statement of Financial Position December 31, 2023 Cash 450,000 275,000 1,025,000 $1,960,000 $ 210,000 Liabilities and Equities Accounts payable $ 325,000 Common shares 800,000 Retained earnings 835,000 Total liabilities and equities $1,960,000 An appraisal, agreed to by both parties, indicated that the fair value of the inventory was $320,000 and the fair value of the plant assets was $1,225,000. The fair value of the receivables and payables is equal to the amount reported on the balance sheet. The agreed purchase price was $3 million, and this amount was paid in cash to the owners of ERB. Instructions Calculate the amount of goodwill (if any) implied in the purchase price of $3 million. Show calculations.

Pls stepwise with explanation and correct only.

What is the Asset Turnover Ratio in 2020?