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Southeast Systems has the following
(unit: $ in millions)
Southeast Systems Balance Sheets |
|||||
|
2013 |
2014 |
|
2013 |
2014 |
Cash |
$50 |
$100 |
Accounts payable |
$450 |
$500 |
|
600 |
700 |
Notes payable |
300 |
400 |
Inventory |
500 |
550 |
Long-term debt |
650 |
650 |
Net fixed assets |
1,000 |
1,000 |
Common equity |
300 |
300 |
|
|
|
|
450 |
500 |
Total Assets |
$2,150 |
$2,350 |
Total Liabilities & Owner’s Equity |
$2,150 |
$2,350 |
Income Statement |
|
|
2014 |
Sales |
$2,370 |
Cost of goods sold |
2,070 |
|
200 |
EBIT |
100 |
Interest expenses |
20 |
Taxable income |
80 |
Taxes |
28 |
Net income |
$52 |
Dividends |
$2 |
(1) What is the common-size value of accounts receivable for 2014?
(2) What is the common-size value of cost of goods sold for 2014?
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