Ваrry Computer Company: Balance Sheet as of December 31, 2016 (in Thousands) $ 77,500 Cash Accounts payable $129,000 Receivables 336,000 241,500 Other current liabilities 117,000 84,000 Inventories Notes payable to bank $330,000 256,500 Total current assets $655,000 Total current liabilities 292 500 $947 500 Long-term debt Common equity Total liabilities and equity Net fixed assets 361,000 $947,500 Total assets Barry Computer Company: Income Statement for Year Ended December 31, 2016 (in Thous ands) Sales $1,607,500 Cost of goods sold Materials $717,000 Labor 453,000 Heat, light, and power 68,000 Indirect labor 113,000 Depreciation Gross profit 41,500 1392500 $ 215,000 Selling expenses General and administrative expenses 115,000 30,000 70,000 24 500 $ 45,500 18 200 27 300 Eamings before interest and taxes (EBIT) Interest expense Eamings before taxes (EBT) Federal and state income taxes (40%) Net income Ratio Barry Industry Average Current 2.0x Quick 1.3x Days sales outstanding Inventory tumover 35 days 6.7x Total assets turnover 3.0x Profit margin 1.2% ROA 3.6% ROE 9.0% ROIC 7.5% TIE 3.0x Debt/Total capital 47.0% "Calculation is based on a 365-day year. ||

Ваrry Computer Company: Balance Sheet as of December 31, 2016 (in Thousands) $ 77,500 Cash Accounts payable $129,000 Receivables 336,000 241,500 Other current liabilities 117,000 84,000 Inventories Notes payable to bank $330,000 256,500 Total current assets $655,000 Total current liabilities 292 500 $947 500 Long-term debt Common equity Total liabilities and equity Net fixed assets 361,000 $947,500 Total assets Barry Computer Company: Income Statement for Year Ended December 31, 2016 (in Thous ands) Sales $1,607,500 Cost of goods sold Materials $717,000 Labor 453,000 Heat, light, and power 68,000 Indirect labor 113,000 Depreciation Gross profit 41,500 1392500 $ 215,000 Selling expenses General and administrative expenses 115,000 30,000 70,000 24 500 $ 45,500 18 200 27 300 Eamings before interest and taxes (EBIT) Interest expense Eamings before taxes (EBT) Federal and state income taxes (40%) Net income Ratio Barry Industry Average Current 2.0x Quick 1.3x Days sales outstanding Inventory tumover 35 days 6.7x Total assets turnover 3.0x Profit margin 1.2% ROA 3.6% ROE 9.0% ROIC 7.5% TIE 3.0x Debt/Total capital 47.0% "Calculation is based on a 365-day year. ||

Financial Accounting: The Impact on Decision Makers

10th Edition

ISBN:9781305654174

Author:Gary A. Porter, Curtis L. Norton

Publisher:Gary A. Porter, Curtis L. Norton

Chapter12: The Statement Of Cash Flows

Section: Chapter Questions

Problem 12.2DC

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Use the following data: Barry Computer Company Balance Sheet as of December 31, 2014 In thousands of $ Cash 85,775 Accounts payable 171,550 Receivables 669,045 Other current liabilities 257,325 Inventories 446,030 Notes payable 85,775 Total current assets 1,200,850 Total current liabilities 514,650 Net fixed assets 514,650 Long-term debbt 394,565 Common equity 806,285 Total assets 1,715,500 Total liabilities and equity 1,715,500 Barry Computer Company Income Statement For the year ended December 31, 2014 In thousands of $ Sales 2,350,000 COGS Materials 1,081,000 Labour 517,000 Heat, light and power 164,500 Indirect labour 188,000 Depreciation 94,000 Total COGS 2,044,500 Gross profit 305,500 Selling expenses 164,500 General and administrative expenses 47,000 EBIT 94,000 Interest expense 39,457 EBT 54,543 Federal and state income taxes (40%) 21,817 Net income 32,726 Calculate the following ratio for Barry Company. Round your answer to two decimal places. ROIC:
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