Precision Tools 2021 Income Statement Net sales Less: Cost of goods sold Less: Depreciation Earnings before...

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Precision Tools 2021 Income Statement Net sales Less: Cost of goods sold Less: Depreciation Earnings before interest and taxes Less: Interest paid Taxable Income Less: Taxes $36,408 28,225 1.760 6,423 510 5,913 2,070 $3.843 Net Income Precision Tools 2020 and 2021 Balance Sheets 2020 2021 2020 2021 24 $4 24 $ Accounts payable Cash 2,060 1,003 7,250 8,384 Accounts 3,411 4,218 receivable 18.776 24,247 21.908 27,129 Inventory 15,000 17,500 6,357 3.825 Common stock Retained earnings Total liability & equity Net fixed assets 14.160 14.080 Total assets 38.407 41,209 38.407 41.209 earnings Total liability & equity Total assets 38.407 41,209 38.407 41.209 How many dollars of sales are being generated from every dollar of net fixed assets? O s0.88 O $2.59 $1,87 $3.09 $2,33 Precision Tools 2021 Income Statement Net sales Less: Cost of goods sold Less: Depreciation Earnings before interest and taxes Less: Interest paid Taxable Income Less: Taxes $36,408 28,225 1.760 6,423 510 5,913 2,070 $3.843 Net Income Precision Tools 2020 and 2021 Balance Sheets 2020 2021 2020 2021 24 $4 24 $ Accounts payable Cash 2,060 1,003 7,250 8,384 Accounts 3,411 4,218 receivable 18.776 24,247 21.908 27,129 Inventory 15,000 17,500 6,357 3.825 Common stock Retained earnings Total liability & equity Net fixed assets 14.160 14.080 Total assets 38.407 41,209 38.407 41.209 earnings Total liability & equity Total assets 38.407 41,209 38.407 41.209 How many dollars of sales are being generated from every dollar of net fixed assets? O s0.88 O $2.59 $1,87 $3.09 $2,33 Precision Tools 2021 Income Statement Net sales Less: Cost of goods sold Less: Depreciation Earnings before interest and taxes Less: Interest paid Taxable Income Less: Taxes $36,408 28,225 1.760 6,423 510 5,913 2,070 $3.843 Net Income Precision Tools 2020 and 2021 Balance Sheets 2020 2021 2020 2021 24 $4 24 $ Accounts payable Cash 2,060 1,003 7,250 8,384 Accounts 3,411 4,218 receivable 18.776 24,247 21.908 27,129 Inventory 15,000 17,500 6,357 3.825 Common stock Retained earnings Total liability & equity Net fixed assets 14.160 14.080 Total assets 38.407 41,209 38.407 41.209 earnings Total liability & equity Total assets 38.407 41,209 38.407 41.209 How many dollars of sales are being generated from every dollar of net fixed assets? O s0.88 O $2.59 $1,87 $3.09 $2,33 Precision Tools 2021 Income Statement Net sales Less: Cost of goods sold Less: Depreciation Earnings before interest and taxes Less: Interest paid Taxable Income Less: Taxes $36,408 28,225 1.760 6,423 510 5,913 2,070 $3.843 Net Income Precision Tools 2020 and 2021 Balance Sheets 2020 2021 2020 2021 24 $4 24 $ Accounts payable Cash 2,060 1,003 7,250 8,384 Accounts 3,411 4,218 receivable 18.776 24,247 21.908 27,129 Inventory 15,000 17,500 6,357 3.825 Common stock Retained earnings Total liability & equity Net fixed assets 14.160 14.080 Total assets 38.407 41,209 38.407 41.209 earnings Total liability & equity Total assets 38.407 41,209 38.407 41.209 How many dollars of sales are being generated from every dollar of net fixed assets? O s0.88 O $2.59 $1,87 $3.09 $2,33

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Solution Fixed Assets Turnover Ratio measures how man... View the full answer