Excerpts from Dowling Company's December 31, 2021 and 2020, financial statements and key ratios are presented below (all numbers are in millions): 2021 2020 Accounts receivable (net) $ 20 $ 16 Net sales $ 115 100 Cost of goods sold $ 60 55 Net income $ 20 17 Inventory turnover 5.22 Return on assets 10.3 % Equity multiplier 2.36 Dowling's average total assets for 2021 is (rounded): Multiple Choice 32. 210. 115. 194.

Excerpts from Dowling Company's December 31, 2021 and 2020, financial statements and key ratios are presented below (all numbers are in millions): 2021 2020 Accounts receivable (net) $ 20 $ 16 Net sales $ 115 100 Cost of goods sold $ 60 55 Net income $ 20 17 Inventory turnover 5.22 Return on assets 10.3 % Equity multiplier 2.36 Dowling's average total assets for 2021 is (rounded): Multiple Choice 32. 210. 115. 194.

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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(a) Following are the partial balance sheet and some assumptions for Kiri-Kanan Company for 2021. Gross profit margin = 50% Inventory turnover 5 Sales (2021) = = RM3,000 Assets Cash Accounts receivables Inventory Net fixed assets Total assets ? RM40 2 RM500 RM900 Cash Accruals Inventory Based on the information provided, calculate Kiri-Kanan's (1) (11) Liabilities & Equity Accounts payables Accruals Long-term debt Total Liabilities & Equity Current ratio Equity Total Liabilities & Equity (1) (iv) (v) (vi) Quick Ratio (Complete the balance sheet table and show all steps of calculations) 4 RM50 ? RM400 250 ?
Compute the following ratios for 2022 and 2021. Inventory on December 31, 2020, was $330. Assets on December 31, 2020, were $1,910. Stockholders' equity-common on December 31, 2020, was $900. (Round current ratio and inventory turnover to 2 decimal place e.g. 15.25. Round other answers to 1 decimal place, e.g. 15.2 or 15.2%.) (a) (b) Inventory turnover (c) (d) (e) (f) Current ratio (g) Profit margin Return on assets Return on common stockholders' equity Debt to assets ratio Times interest earned 2022 1.67 2 7.73 :1 times % % % % times 2021 1.79 2 4.42 :1 times de % % % % times
Delta Company reports the following year-end balance sheet data. The company's acid-test ratio equals: Cash Accounts receivable Inventory Equipment Total assets Multiple Choice о о 0.60 1.39 2.22 0.38 0.63 $ 55,000 Current liabilities 70,000 Long-term liabilities 75,000 Common stock 160,000 Retained earnings $360,000 Total liabilities and equity $ 90,000 45,000 115,000 110,000 $ 360,000
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Financial Ratios: Do Year 2022 only Liquidity Status Current Ratios Quick Asset Ratios Efficiency Status Asset Turnover Fixed Asset Turnover Inventory Turnover Days in Inventory Accounts Receivable Turnover Days in Receivable Profitability Status: Gross Profit margin Ratio Operating Income Ratio Net Profit Ratio Return on Assets Return on Equity
Vertical analysis (common-size) percentages for Baker Company’s sales revenue, cost of goods sold, and expenses are as follows. Did Baker’s net income as a percent of sales increase, decrease, or remain unchanged over the 3-year period? Provide numerical support for your answer. Vertical Analysis 2020 2019 2018 Sales revenue 100.0% 100.0% 100.0% Cost of goods sold 60.0 63.9 65.0 Expenses 26.0 26.6 27.5
see below table of Ratios for a company. Comment on the liquidity, profitability, leverage, asset management and market value. Ratio Analysis 2021 Est. 2020 2019 Industry Average Liquidity Ratios Current Ratio (times) 2.34 3.22 3.68 4.2 Quick Ratio (times) 0.91 1.24 1.79 2.1 Asset Management Ratios Average sales/day 10.96 8.22 7.81 9 Inventory Turnover Ratio (times) 4.43 3.74 5.06 9 Days Sales Outstanding (days) 38.32 45.62 40.34 36 Fixed Assets Turnover Ratio (times) 2.12 2.52 3.27 3 Total Asset Turnover Ratio 1.32 1.37 1.69 1.8 Debt Management Ratios Total Debt to Total Assets (%) 59.09 48.58 47.6 40 Times Interest Earned (times) 7.9 6.81 11 6 Debt to Equity Ratio (%) 1.49 0.98 0.95 1 Profitability…
please help me with the answer and steps to solve it
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The condensed financial statements of Blossom Company for the years 2019 and 2020 are presented below. BLOSSOM COMPANY Balance Sheets December 31 (in thousands) 2020 2019 Current assets Cash and cash equivalents $330 $360 Accounts receivable (net) 630 560 Inventory 580 510 Prepaid expenses 130 160 Total current assets 1,670 1590 Property, plant, and equipment (net) 410 380 Investments 170 170 530 510 Intangibles and other assets $2,780 $2,650 Total assets $980 $950 Current liabilities Long-term liabilities 600 500 Stockholders' equity-common 1,200 1,200 Total liabilities and stockholders equity $2780 $2,650 BLOSSOM COMPANY Income Statements For the Year Ended December 31 (in thousands) 2019 2020 $3,920 $3,580 Sales revenue Costs and expenses Cost of goods sold 1,130 1050 Selling & administrative expenses 2400 2,330 Interest expense 10 20 Total costs and expenses 3,540 3400 Income before income taxes 380 180 Income tax expense 152 72 $228 $108 Net income
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Footfall Manufacturing Ltd. reports the following financial information at the end of the current year: Net Sales $100,000 Debtor’s turnover ratio (based on net sales) 2 Inventory turnover ratio 1.25 Fixed assets turnover ratio 0.8 Debt to assets ratio 0.6 Net profit margin 5% Gross profit margin 25% Return on investment 2% Use the given information to fill out the templates for income statement and balance sheet given below: Income Statement of Footfall Manufacturinf Ltd. for the year ending December 31, 20XX (in $) Sales 100,000 Cost of goods sold Gross profit Other expenses Earnings before tax Tax @50% Earnings after tax Balance Sheet of Footfall Manufacturing Ltd. as at December 31, 20XX (in $) Liabilities Assets Equity Net fixed assetsLong term debt 50,000 InventoryShort term debt Debtors…

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	2021		2020
Accounts receivable (net)	$	20		$	16
Net sales	$	115			100
Cost of goods sold	$	60			55
Net income	$	20			17
Inventory turnover		5.22
Return on assets		10.3	%
Equity multiplier		2.36