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Long-term debt ratio. 0.1 Times interest earned 10.0 Current ratio 1.6 Quick ratio 1.0 Cash ratio 0.6 Inventory turnover 3.0 Average collection period 73 days Use the above Information from the tables to work out the following missing entries, and then calculate the company's return on equity. Note: Inventory turnover, average collection period, and return on equity are calculated using start-of-year, not average, values. Answer is complete but not entirely correct. Complete this question by entering your answers in the tabs below. Income Balance Sheet Statement Use the above information from the tables to work out the following missing entries, and then calculate the company's return on equity. Note: Inventory turnover, average collection period, and return on equity are calculated using start-of-year, not average, values. Note: Enter your answers in millions. Round intermediate calculations and final answers to 2 decimal places. BALANCE SHEET (Figures in $ millions) This Year Last Year Assets Cash and marketable securities Accounts receivable S 39.00 $ 37.00 26.00 51.00 Inventories 39.00 43.00 Total current assets $ 104.00 $ 131.00 Net property, plant, and equipment 171.00 42.00 Total assets $ 275.00 $ 173.00 Liabilities and shareholders' equity Accounts payable S 25.00 $ 20.00 Notes payable 40.00 45.00 Total current liabilities S 65.00 $ 65.00 Long-term debt 20.10 x 18.00 Shareholders' equity 189.90 90.00 Total liabilities and shareholders' equity $ 275.00 $ 173.00 Show less

Long-term debt ratio. 0.1 Times interest earned 10.0 Current ratio 1.6 Quick ratio 1.0 Cash ratio 0.6 Inventory turnover 3.0 Average collection period 73 days Use the above Information from the tables to work out the following missing entries, and then calculate the company's return on equity. Note: Inventory turnover, average collection period, and return on equity are calculated using start-of-year, not average, values. Answer is complete but not entirely correct. Complete this question by entering your answers in the tabs below. Income Balance Sheet Statement Use the above information from the tables to work out the following missing entries, and then calculate the company's return on equity. Note: Inventory turnover, average collection period, and return on equity are calculated using start-of-year, not average, values. Note: Enter your answers in millions. Round intermediate calculations and final answers to 2 decimal places. BALANCE SHEET (Figures in $ millions) This Year Last Year Assets Cash and marketable securities Accounts receivable S 39.00 $ 37.00 26.00 51.00 Inventories 39.00 43.00 Total current assets $ 104.00 $ 131.00 Net property, plant, and equipment 171.00 42.00 Total assets $ 275.00 $ 173.00 Liabilities and shareholders' equity Accounts payable S 25.00 $ 20.00 Notes payable 40.00 45.00 Total current liabilities S 65.00 $ 65.00 Long-term debt 20.10 x 18.00 Shareholders' equity 189.90 90.00 Total liabilities and shareholders' equity $ 275.00 $ 173.00 Show less

Managerial Accounting: The Cornerstone of Business Decision-Making
Managerial Accounting: The Cornerstone of Business Decision-Making
7th Edition
ISBN:9781337115773
Author:Maryanne M. Mowen, Don R. Hansen, Dan L. Heitger
Publisher:Maryanne M. Mowen, Don R. Hansen, Dan L. Heitger
Chapter15: Financial Statement Analysis
Section: Chapter Questions
Problem 56P: The following selected information is taken from the financial statements of Arnn Company for its...
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Long-term debt ratio 0.1 Times interest earned 10.0 Current ratio 1.6 Quick ration 1.0 Cash ratio 0.6 Inventory turnover 3.0 Average collection period 73 days Use the above Information from the tables to work out the following missing entries, and then calculate the company's return on equity. Note: Inventory turnover, average collection period, and return on equity are calculated using start-of-year, not average, values. Answer is complete but not entirely correct. Complete this question by entering your answers in the tabs below. Income Statement Balance Sheet Use the above information from the tables to work out the following missing entries, and then calculate the company's return on equity. Note: Inventory turnover, average collection period, and return on equity are calculated using start-of-year, not average, values. Note: Enter your answers in millions. Round intermediate calculations and final answers to 2 decimal places. Assets BALANCE SHEET (Figures in $ millions) This Year Last Year Cash and marketable securities $ 39.00 $ 37.00 Accounts receivable Inventories 26.00 51.00 39.00 43.00 Total current assets S 104.00 $ 131.00 Net property, plant, and equipment 171.00 42.00 Total assets S 275.00 $ 173.00 Liabilities and shareholders' equity Accounts payable 25.00 $ 20.00 Notes payable 40.00 45.00 Total current liabilities S 65.00 $ 65.00 Long-term debt 20.10 x 18.00 Shareholders' equity 189.90 x 90.00 Total liabilities and shareholders' equity S 275.00 $ 173.00 < Income Statement Balance Sheet > Show less▲
Transcribed Image Text:Long-term debt ratio 0.1 Times interest earned 10.0 Current ratio 1.6 Quick ration 1.0 Cash ratio 0.6 Inventory turnover 3.0 Average collection period 73 days Use the above Information from the tables to work out the following missing entries, and then calculate the company's return on equity. Note: Inventory turnover, average collection period, and return on equity are calculated using start-of-year, not average, values. Answer is complete but not entirely correct. Complete this question by entering your answers in the tabs below. Income Statement Balance Sheet Use the above information from the tables to work out the following missing entries, and then calculate the company's return on equity. Note: Inventory turnover, average collection period, and return on equity are calculated using start-of-year, not average, values. Note: Enter your answers in millions. Round intermediate calculations and final answers to 2 decimal places. Assets BALANCE SHEET (Figures in $ millions) This Year Last Year Cash and marketable securities $ 39.00 $ 37.00 Accounts receivable Inventories 26.00 51.00 39.00 43.00 Total current assets S 104.00 $ 131.00 Net property, plant, and equipment 171.00 42.00 Total assets S 275.00 $ 173.00 Liabilities and shareholders' equity Accounts payable 25.00 $ 20.00 Notes payable 40.00 45.00 Total current liabilities S 65.00 $ 65.00 Long-term debt 20.10 x 18.00 Shareholders' equity 189.90 x 90.00 Total liabilities and shareholders' equity S 275.00 $ 173.00 < Income Statement Balance Sheet > Show less▲
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