Question: Please help with the blanks. Problem 19-1 Use the financial statements of Heifer Sports Inc. to find the information below for Heifer. (Use 365 days



Please help with the blanks.
Problem 19-1 Use the financial statements of Heifer Sports Inc. to find the information below for Heifer. (Use 365 days a year. Round all answers to 2 decimal places except $ amounts.) Income Statement Sales Cost of goods sold Depreciation Selling & admin. expenses EBIT Interest expense Taxable income Taxes Net income 2017 $ 5,770,000 3,055,000 303,500 1,625,000 $ 786,500 176,000 $ 610,500 278,500 $ 332,000 2017 2016 Balance Sheet, Year-End Assets Cash Accounts receivable Inventory Total current assets Fixed assets $ 40,500 586,000 435, 100 $ 1,061,600 2,805,000 $ 3,866,600 $ 98,000 1,700, 200 1,182,700 $ 2,980,900 6,990,000 $ 9,970,900 Total assets Liabilities and Stockholders' Equity Accounts payable Short-term debt Total current liabilities Long-term bonds Total liabilities $ 311,200 506,000 $ 817,200 1,706,300 $ 2,523,500 $ 314,300 1,028,800 $ 1,343,100 $ 3,866,600 $ 1,218,000 1,497,300 $ 2,715,300 5,984,500 $ 8,699,800 $ 314,300 956,800 $ 1,271,100 $ 9,970,900 Common stock Retained earnings Total stockholders' equity Total liabilities and stockholders' equity 3.77 1.88 days a. Inventory turnover ratio in 2017 b. Debt/equity ratio in 2017 c. Cash flow from operating activities in 2017 d. Average collection period e. Asset turnover ratio f. Interest coverage ratio g. Operating profit margin h. Return on equity j. Compound leverage ratio k. Net cash provided by operating activities 4.47 % %
Step by Step Solution
There are 3 Steps involved in it
Get step-by-step solutions from verified subject matter experts
