photo_2022-03-03_08-37-34 (2).jpgfile_uploadAdd Imagephoto_2022-03-03_08-37-34 (2).jpgfile_uploadAdd Image close close What is the Inventory turnover, Age of inventory, asset turnover (2 years), and Fixed asset turnover (2 years) Compare CompanyStatement of Financial PositionDecember 31,2016 and December 31, 201720172016Current AssetsCash190,000.00160,000.00Accounts Receivable170,000.00160,000.00100,000.00InventoryPrepaid Expense80,000.0080,000.0080,000.00Total current assets520,000.00500,000.00Noncurrent AssetsPlant and EquipmentTotal assets1,450,000.001,430,000.001,970,000.001,930,000.00Current LiabilitiesAccounts Payable180,000.00190,000.00Accrued liabilities110,000,0080,000.00Notes Payable (short term)210,000.00210,000.00Total Current Liabilities500,000.00480,000.00Long-term DebtOwner's CapitalTotal Liabilities and Equity470,000.00500,000.001,000,000.00950,000.001,970,000.001,930,000.00 COMPARE CORPORATIONIncome StatementDecember 31,2016 and December 31,20120172016Net Sales3,950,000.002,980,000.00Less Cost of Goods Sold1,500,000.001,050,000.00Gross Profit2,450,000.001,930,000.00Less: Other Expenses800,000.001,650,000.00700,000.00Operating IncomeLess: Interest Expense1,230,000.0030,000.0025,000.00Net Income1,620,000.001,205,000.00

Given: Particulars 2017 2016 Total assets 1,970,000.00 1,930,000.00 Plant & Equipment…

Answered: What is the Inventory turnover, Age of…

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What is the Inventory turnover, Age of inventory, asset turnover (2 years), and Fixed asset turnover (2 years)

Essentials Of Investments

11th Edition

ISBN:9781260013924

Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.

Publisher:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.

Chapter1: Investments: Background And Issues

Section: Chapter Questions

Problem 1PS

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What is the Inventory turnover, Age of inventory, asset turnover (2 years), and Fixed asset turnover (2 years)

Compare Company
Statement of Financial Position
December 31,2016 and December 31, 2017
2017
2016
Current Assets
Cash
190,000.00
160,000.00
Accounts Receivable
170,000.00
160,000.00
100,000.00
Inventory
Prepaid Expense
80,000.00
80,000.00
80,000.00
Total current assets
520,000.00
500,000.00
Noncurrent Assets
Plant and Equipment
Total assets
1,450,000.00
1,430,000.00
1,970,000.00
1,930,000.00
Current Liabilities
Accounts Payable
180,000.00
190,000.00
Accrued liabilities
110,000,00
80,000.00
Notes Payable (short term)
210,000.00
210,000.00
Total Current Liabilities
500,000.00
480,000.00
Long-term Debt
Owner's Capital
Total Liabilities and Equity
470,000.00
500,000.00
1,000,000.00
950,000.00
1,970,000.00
1,930,000.00

COMPARE CORPORATION
Income Statement
December 31,2016 and December 31,201
2017
2016
Net Sales
3,950,000.00
2,980,000.00
Less Cost of Goods Sold
1,500,000.00
1,050,000.00
Gross Profit
2,450,000.00
1,930,000.00
Less: Other Expenses
800,000.00
1,650,000.00
700,000.00
Operating Income
Less: Interest Expense
1,230,000.00
30,000.00
25,000.00
Net Income
1,620,000.00
1,205,000.00

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