2011 and 2012 Balance Sheets 2011 2012 2011 2012 Cash $2,060 $1,003 Accounts payable $7,250 $8,384...

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2011 and 2012 Balance Sheets 2011 2012 2011 2012 Cash $2,060 $1,003 Accounts payable $7,250 $8,384 Accounts rec. 3,411 4,218 Long-term debt 9,800 11,500 Inventory 18,776 21,908 Total $24,247 $27,129 Common stock Retained earning 15,000 17,500 6,357 3,825 Net fixed assets 14.160 14.080 Total assets $38,407 $41,209 Total liab & equity $38,407 $41.209 Precision Tool 2012 Income Statement Net sales $36,408 Less: Cost of goods sold 28,225 Less: Depreciation 1,760 Earnings before interest and taxes 6,423 Less: Interest paid 510 Taxable Income $5,913 Less: Taxes Net income 2.070 $3,843 How many dollars of sales are being generated from every dollar of net fixed assets? (Use 2012 values.) 2011 and 2012 Balance Sheets 2011 2012 2011 2012 Cash $2,060 $1,003 Accounts payable $7,250 $8,384 Accounts rec. 3,411 4,218 Long-term debt 9,800 11,500 Inventory 18,776 21,908 Total $24,247 $27,129 Common stock Retained earning 15,000 17,500 6,357 3,825 Net fixed assets 14.160 14.080 Total assets $38,407 $41,209 Total liab & equity $38,407 $41.209 Precision Tool 2012 Income Statement Net sales $36,408 Less: Cost of goods sold 28,225 Less: Depreciation 1,760 Earnings before interest and taxes 6,423 Less: Interest paid 510 Taxable Income $5,913 Less: Taxes Net income 2.070 $3,843 How many dollars of sales are being generated from every dollar of net fixed assets? (Use 2012 values.)

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