Precision Tools 2021 Income Statement Net sales $36,408 Less: Cost of goods sold Less: Depreciation Earnings...
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Precision Tools 2021 Income Statement Net sales $36,408 Less: Cost of goods sold Less: Depreciation Earnings before interest and taxes Less: Interest paid 28,225 1,760 6,423 510 Taxable Income 5,913 2.070 $3.843 Less: Taxes Net Income Precision Tools 2020 and 2021 Balance Sheets 2020 2020 2021 2021 2$ Cash 2,060 1,003 Accounts 7,250 8,384 payable Accounts receivable Inventory 3,411 4,218 21.908 18,776 24,247 27,129 Long-term debt 9,800 11,500 17,500 3,825 Common stock 15,000 14.160 14.080 Retained 6.357 Net fixed assets earnings Total liability & equity Total assets 38.407 41.209 38.407 41,209 How many days on averaqe does it take Precision Tool to sell its inventory? How many days on average does it take Precision Tool to sell its inventory? 219.63 days 187.77 days 247.46 days 283.31 days 164.30 days Precision Tools 2021 Income Statement Net sales $36,408 Less: Cost of goods sold Less: Depreciation Earnings before interest and taxes Less: Interest paid 28,225 1,760 6,423 510 Taxable Income 5,913 2.070 $3.843 Less: Taxes Net Income Precision Tools 2020 and 2021 Balance Sheets 2020 2020 2021 2021 2$ Cash 2,060 1,003 Accounts 7,250 8,384 payable Accounts receivable Inventory 3,411 4,218 21.908 18,776 24,247 27,129 Long-term debt 9,800 11,500 17,500 3,825 Common stock 15,000 14.160 14.080 Retained 6.357 Net fixed assets earnings Total liability & equity Total assets 38.407 41.209 38.407 41,209 How many days on averaqe does it take Precision Tool to sell its inventory? How many days on average does it take Precision Tool to sell its inventory? 219.63 days 187.77 days 247.46 days 283.31 days 164.30 days
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