The following information was reported in the December 31 financial statements of National Airways, Incorporated (listed alphabetically, amounts in millions). Accounts Payable Accounts Receivable Aircraft Fuel Expense Cash $4,155 700 9,900 3,090

Consider the following financial data for Smith Corp.:     Balance Sheet as of December 31, 2019               Cash $ 195,000   Accounts payable $ 94,000 Receivables   185,500   Short-term bank note   119,500 Inventories   214,500   Accruals   71,000   Total current assets $ 595,000     Total current liabilities $ 284,500         Long-term debt   462,500 Net plant & equip.   621,500   Common equity   469,500 Total assets $ 1,216,500   Total liab. & equity $ 1,216,500               Profit & Loss Statement for 2019   Industry Average Ratios               Net sales $ 1,265,000   Current ratio 1.9× Cost of sales   986,500   Quick ratio 1.2× Gross profit $ 278,500   Days sales outstanding 64 days Operating expenses   166,500   Inventory turnover 3.3×   EBIT $ 112,000   Total asset turnover 0.7× Interest expense   32,000   Net profit margin 9.1%   Pre-tax income $ 80,000…

Consider the following financial data for Larry’s Computer Stores: Statement of Financial Position as of December 31, 2012 Cash & equivalents $ 94,500   Accounts payable $ 122,500 Receivables   202,500   Short-term bank note   162,500 Inventories   364,000   Accrued wages and taxes   110,500   Total current assets $ 661,000     Total short-term liab. $ 395,500         Long-term debt   418,000 Net fixed assets   468,500   Common equity   316,000 Total assets $ 1,129,500   Total liabilities & equity $ 1,129,500               Statement of Earnings for the Year Ended December 31, 2012 Sales revenue $ 450,000 Cost of merchandise sold   250,000 Gross profit $ 200,000 Operating expenses   97,500   Earnings before interest and taxes (EBIT) $ 102,500 Interest expense   46,500   Earnings before taxes (EBT) $ 56,000 Federal and state income taxes (45 percent)   25,200 Net earnings $ 30,800…

Required: Compute the asset turnover ratio for 2021. (Re Asset turnover ratio

The balance sheet for Gallinas Industries is as​ follows, Gallinas Industries Balance Sheet December 31   Assets     Liabilities and Stockholders' Equity   Cash $35,000   Accounts payable $101,920 Marketable securities 101,920   Notes payable 62,720 Accounts receivable 109,760   Accrued wages 62,720 Inventories 148,960   Total current liabilities $227,360 Total current assets $395,640   Long-term debt $203,840 Land and buildings (net) $145,635   Preferred stock $94,080 Machinery and equipment 242,725   Common stock (10,000 shares) 141,120 Total fixed assets (net) $388,360   Retained earnings 117,600 Total assets $784,000   Total liabilities and stockholders' equity $784,000 Additional information with respect to the firm is​ available:   1. Preferred stock can be liquidated at book value. 2. Accounts receivable and inventories can be liquidated at 85​%of book value. 3. The firm…

A firm has : cash balance  $23,015.00 accounts payable $163,257.00 common stock $313,299.00 retained earnings $512,159.00 inventory $212,444.00 goodwill & other assets $78,656.00 plant & equipment $711,256.00 short-term notes payable $21,115.00 accounts receivable  $141,258.00 current assets $11,223.00 what is long term debt?

Harding Company Accounts payable $34,411 Accounts receivable 74,965 Accrued liabilities 6,258 Cash 21,193 Intangible assets 37,609 Inventory 78,910 Long-term investments 111,094 Long-term liabilities 73,297 Notes payable (short-term) 28,248 Property, plant, and equipment 613,888 Prepaid expenses 2,504 Temporary investments 36,411 Based on the data for Harding Company, what is the amount of quick assets?

The balance sheet of RS Corp. as at December 31, 1979 contained the following current assets: Cash                                                      96, 578 Accounts receivable                             452,800 Inventories                                         376,300                                                       925,678 An examination of the accounts disclosed that the accounts receivable consisted of the following items: Trade customers’ accounts                                                                                                                          357,742 Due from employees – current                                                                                                                   43,658 Equity in 50,000 of uncollected accounts receivable assigned under guaranty                       16,000 Selling price of merchandise on consignment at 140% of cost and not sold                             50,400 Allowance for doubtful accounts…

Privett Company Accounts payable $26,195 Accounts receivable 62,336 Accrued liabilities 6,328 Cash 23,939 Intangible assets 37,985 Inventory 74,958 Long-term investments 107,215 Long-term liabilities 74,188 Marketable securities 32,601 Notes payable (short-term) 26,240 Property, plant, and equipment 660,621 Prepaid expenses 1,525 Based on the data for Privett Company, what is the quick ratio, rounded to one decimal point? Oa. 2 Оb. 17 Ос. 1 Od. 3.3

The following selected information is taken from the financial statements of Arnn Company for its most recent year of operations: Beginning balances: Inventory $200,000 Accounts receivable 300,000 Ending balances: Inventory 250,000 Accounts receivable 400,000 Cash 100,000 Marketable securities (short-term) 200,000 Prepaid expenses 50,000 Accounts payable 175,000 Taxes payable 85,000 Wages payable 90,000 Short-term loans payable 50,000 During the year, Arnn had net sales of $2.45 million. The cost of goods sold was $1.3 million. Required: When required, round your answers to two decimal places. Assume 365 days per year. 1. Compute the current ratio. 2. Compute the quick or acid-test ratio. 3. Compute the accounts receivable turnover ratio. times 4. Compute the accounts receivable turnover in days. days 5. Compute the inventory turnover ratio. times 6. Compute the inventory turnover in days. days