#47

Suppose selected comparative statement data for the giant bookseller Barnes & Noble are presented here. All balance sheet data are as of the end of the fiscal year (in millions).

2020

2019

Net sales

$4,950 $4,900

Cost of goods sold

3,300 3,701

Net income

65 181

Accounts receivable

65 109

Inventory

1,250 1,350

Total assets

2,850 3,250

Total common stockholders equity

920 1,060

Compute the following ratios for 2020. (Round asset turnover to 2 decimal places, e.g 1.83 and all other answers to 1 decimal place, e.g. 1.8 or 2.5%)

(a)

Profit margin

enter percentages rounded to 1 decimal place

%

(b)

Asset turnover

enter Asset turnover in times rounded to 2 decimal places

times

(c)

Return on assets

enter percentages rounded to 1 decimal place

%

(d)

Return on common stockholders equity

enter percentages rounded to 1 decimal place

%

(e)

Gross profit rate

#48

Larkspur, Inc. reported net income of $113,700 for 2020. Included in the income statement were depreciation expense of $4,300, amortization expense of $2,900, and a gain on disposal of plant assets of $3,800. Larkspurs comparative balance sheets show the following balances.

12/31/19

12/31/20

Accounts receivable

$27,200

$21,900

Accounts payable

6,100

9,100

Calculate net cash provided by operating activities for Larkspur, Inc.. (Show amounts that decrease cash flow with either a - sign e.g. -15,000 or in parenthesis e.g. (15,000).)