Calculate the following ratios for 2022 for Holiday Gifts Galore, Inc.: a. Average Collection Period: b....

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Calculate the following ratios for 2022 for Holiday Gifts Galore, Inc.: a. Average Collection Period: b. Debt Ratio: c. Return on Equity (ROE): d. Current Ratio: e. Inventory Turnover: Industry Average 35 days 60% 10.5% 1.3 8.1 Sales Revenue Cost of Goods Sold Gross Profit Selling Expense General and Administrative Expense Depreciation Expense Operating Profits (EBIT) Interest Expense Profit Before Taxes Less: Taxes @ 40% Net Profit After Taxes Cash Accounts Receivable Inventories Total Current Assets Net Fixed Assets TOTAL ASSETS ASSETS: Accounts Payable Notes Payable Accruals LIABILITIES AND EQUITY: Total Current Liabilities Long-Term Debt TOTAL LIABILITIES Common Stock at Par Value Paid-In Capital in Excess of Par Value Retained Earnings TOTAL STOCKHOLDERS' EQUITY TOTAL LIABILITIES AND EQUITY -2022- DOLLARS % OF SALES 7,800,000 4,800,000 3,000,000 1,540,000 95,000 125,000 HOLIDAY GIFTS GALORE, INC. Balance Sheet As of December 31, 2022 1,240,000 750,000 490,000 196,000 294,000 --2022 DOLLARS % OF ASSETS 95,000 1,200,000 3,200,000 4,495,000 6,540,000 11,035,000 1,750,000 800,000 75,000 2,625,000 3,885,000 6,510,000 50,000 75,000 4,400,000 4,525,000 100.00% 61.54% 38.46% 19.74% 1.22% 1.60% 15.90% 9.62% 6.28% 2.51% 3.77% 11,035,000 0.86% 10.87% 29.00% 40.73% 59.27% 100.00% 15.86% 7.25% 0.68% 23.79% 35.21% 58.99% 0.45% 0.68% 39.87% 41.01% 100.00% Calculate the following ratios for 2022 for Holiday Gifts Galore, Inc.: a. Average Collection Period: b. Debt Ratio: c. Return on Equity (ROE): d. Current Ratio: e. Inventory Turnover: Industry Average 35 days 60% 10.5% 1.3 8.1 Sales Revenue Cost of Goods Sold Gross Profit Selling Expense General and Administrative Expense Depreciation Expense Operating Profits (EBIT) Interest Expense Profit Before Taxes Less: Taxes @ 40% Net Profit After Taxes Cash Accounts Receivable Inventories Total Current Assets Net Fixed Assets TOTAL ASSETS ASSETS: Accounts Payable Notes Payable Accruals LIABILITIES AND EQUITY: Total Current Liabilities Long-Term Debt TOTAL LIABILITIES Common Stock at Par Value Paid-In Capital in Excess of Par Value Retained Earnings TOTAL STOCKHOLDERS' EQUITY TOTAL LIABILITIES AND EQUITY -2022- DOLLARS % OF SALES 7,800,000 4,800,000 3,000,000 1,540,000 95,000 125,000 HOLIDAY GIFTS GALORE, INC. Balance Sheet As of December 31, 2022 1,240,000 750,000 490,000 196,000 294,000 --2022 DOLLARS % OF ASSETS 95,000 1,200,000 3,200,000 4,495,000 6,540,000 11,035,000 1,750,000 800,000 75,000 2,625,000 3,885,000 6,510,000 50,000 75,000 4,400,000 4,525,000 100.00% 61.54% 38.46% 19.74% 1.22% 1.60% 15.90% 9.62% 6.28% 2.51% 3.77% 11,035,000 0.86% 10.87% 29.00% 40.73% 59.27% 100.00% 15.86% 7.25% 0.68% 23.79% 35.21% 58.99% 0.45% 0.68% 39.87% 41.01% 100.00%

Answer rating: 100% (QA)

9 Average collection Period b Debt ratio 6510000 11035000 e Fatory e Inventory T... View the full answer