Hope Manufacturing is the largest uniform supplier in North America. Selected information from its annual report...
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Hope Manufacturing is the largest uniform supplier in North America. Selected information from its annual report follows. For the 2019 fiscal year, the company reported sales revenue of $6.3 billion and Cost of Goods Sold of $4.5 billion. Fiscal Year Balance Sheet (amounts in millions) Cash and Cash Equivalents Accounts Receivable, Net Inventory Prepaid Rent and Other Current Assets Accounts Payable Salaries and Wages Payable. Notes Payable (short-term) Other Current Liabilities 2019 Current Ratio Inventory Turnover Ratio: Accounts Receivable Turnover Ratio $ 560 900 340 825 220 540 120 30 2018 $440 858 350 680 200 548 30 330 Required: Assuming that all sales are on credit, compute the following ratios for 2019. (Do not round intermediate calculations. Round your final answers to 2 decimal places.) Hope Manufacturing is the largest uniform supplier in North America. Selected information from its annual report follows. For the 2019 fiscal year, the company reported sales revenue of $6.3 billion and Cost of Goods Sold of $4.5 billion. Fiscal Year Balance Sheet (amounts in millions) Cash and Cash Equivalents Accounts Receivable, Net Inventory Prepaid Rent and Other Current Assets Accounts Payable Salaries and Wages Payable. Notes Payable (short-term) Other Current Liabilities 2019 Current Ratio Inventory Turnover Ratio: Accounts Receivable Turnover Ratio $ 560 900 340 825 220 540 120 30 2018 $440 858 350 680 200 548 30 330 Required: Assuming that all sales are on credit, compute the following ratios for 2019. (Do not round intermediate calculations. Round your final answers to 2 decimal places.)
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ANSWER Current Ratio 147 Inventory Turnover Ratio 1829 Accounts R... View the full answer
Related Book For
Fundamentals of Financial Accounting
ISBN: 978-0078025914
5th edition
Authors: Fred Phillips, Robert Libby, Patricia Libby
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