Select the images below to enlarge.Balance SheetMurawski CompanyBalance SheetDecember 31Current AssetsInvestmentsCash and cash equivalentsAccounts receivable (net)Current liabilitiesProperty, plant, and equipmentIntangibles and other assetsTotal assetsPrepaid expensesTotal current assetsSales Revenue$330 $360470400Inventory 4603901201601,3801,310Murawski CompanyIncome StatementFor the Years Ended December 31Costs and expensesCost of goods soldSelling and Administrative expenses2022Income StatementInterest expenseTotal costs and expensesIncome before income taxesLong-term liabilitiesStockholder's equity - common1,0301,040Total liabilities and stockholder's equity $2,340 $2,21010420530$2,340Income tax expenseNet Income$9004102022$3,80020219552,400253,380420126$29410380510$2,210$7903802021$3,4608902,330203,24022066$154Calculate the 2022 Inventory Turnover ratio.Use whole numbers rounded to 2 decimalplaces, if needed, as seen in the examplebelow.1500955Example800Inventory Turnover Ratio 2022.I.=1.88Click the check mark to check your answers.Fields with incorrect responses will beremoved so you can try again.

INVENTORY TURNOVER RATIO Inventory Turnover Ratio is the Ratio between Cost of Goods Sold &…

Select the images below to enlarge. Balance Sheet Murawski Company Balance Sheet December 31 Current Assets Investments Cash and cash equivalents Accounts receivable (net) Property, plant, and equipment Intangibles and other assets Total assets Current liabilities Inventory Prepaid expenses Total current assets Sales Revenue 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 2022 Income Statement Income before income taxes Long-term liabilities Stockholder's equity - common 1,030 1,040 Total liabilities and stockholder's equity $2,340 $2,210 Income tax expense Net Income $330 $360 470 400 460 390 120 160 1,380 1,310 10 420 530 $2,340 $900 410 2022 $3,800 2021 955 2,400 25 3,380 420 126 $294 10 380 510 $2,210 $790 380 2021 $3,460 890 2,330 20 3,240 220 66 $154 Calculate the 2022 Inventory Turnover ratio. Use whole numbers rounded to 2 decimal places, if needed, as seen in the example below. 1500 955 Example 800 Inventory Turnover Ratio 2022 .I. = 1.88 Click the check mark to check your answers. Fields with incorrect responses will be removed so you can try again.

Select the images below to enlarge. Balance Sheet Murawski Company Balance Sheet December 31 Current Assets Investments Cash and cash equivalents Accounts receivable (net) Property, plant, and equipment Intangibles and other assets Total assets Current liabilities Inventory Prepaid expenses Total current assets Sales Revenue 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 2022 Income Statement Income before income taxes Long-term liabilities Stockholder's equity - common 1,030 1,040 Total liabilities and stockholder's equity $2,340 $2,210 Income tax expense Net Income $330 $360 470 400 460 390 120 160 1,380 1,310 10 420 530 $2,340 $900 410 2022 $3,800 2021 955 2,400 25 3,380 420 126 $294 10 380 510 $2,210 $790 380 2021 $3,460 890 2,330 20 3,240 220 66 $154 Calculate the 2022 Inventory Turnover ratio. Use whole numbers rounded to 2 decimal places, if needed, as seen in the example below. 1500 955 Example 800 Inventory Turnover Ratio 2022 .I. = 1.88 Click the check mark to check your answers. Fields with incorrect responses will be removed so you can try again.

Managerial Accounting

15th Edition

ISBN:9781337912020

Author:Carl Warren, Ph.d. Cma William B. Tayler

Publisher:Carl Warren, Ph.d. Cma William B. Tayler

Chapter15: Statement Of Cash Flows

Section: Chapter Questions

Problem 3BE

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Swifty Corporation’s comparative balance sheets are presented below. SWIFTY CORPORATIONBalance SheetsDecember 3120222021Cash$12,500 $6,100 Accounts receivable18,400 26,600 Inventory13,200 10,200 Land34,200 30,200 Building76,200 76,200 Accumulated depreciation(17,200) (14,200)Total137,300 135,100 Accounts payable19,500 33,300 Common stock ($5 par)74,500 74,500 Retained earnings43,300 27,300 Total137,300 135,100 Swifty’s 2022 income statement included net sales of $122,000, cost of goods sold of $82,000, and net income of $31,000. Compute the following ratios for 2022. (Round Debt to total assets ratio to 1 decimal place, e.g 1.8 and all percentage and days answers to 0 decimal places, e.g 18 or 25% and all other answers to 2 decimal places, e.g. 1.83) Asset turnoverenter the number rounded to 2 decimal places (g)Return on assetsenter percentages rounded to 0 decimal places…
Swifty Corporation’s comparative balance sheets are presented below. SWIFTY CORPORATIONBalance SheetsDecember 3120222021Cash$12,500 $6,100 Accounts receivable18,400 26,600 Inventory13,200 10,200 Land34,200 30,200 Building76,200 76,200 Accumulated depreciation(17,200) (14,200)Total137,300 135,100 Accounts payable19,500 33,300 Common stock ($5 par)74,500 74,500 Retained earnings43,300 27,300 Total137,300 135,100 Swifty’s 2022 income statement included net sales of $122,000, cost of goods sold of $82,000, and net income of $31,000. Compute the following ratios for 2022. (Round Debt to total assets ratio to 1 decimal place, e.g 1.8 and all percentage and days answers to 0 decimal places, e.g 18 or 25% and all other answers to 2 decimal places, e.g. 1.83) (i)Earnings per share$enter a dollar amount rounded to 2 decimal places (j)Payout ratioenter percentages rounded to 0 decimal…
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