Question 5 (8 points) Use the financial data shown below to calculate the following ratios for...

 

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Question 5 (8 points) Use the financial data shown below to calculate the following ratios for the current year: Income Statement data Sales (all on credit) Cost of goods sold Income before taxes. Net profit Cash Accounts receivable (net) Inventory... Property, plant and equipment (net)..... Total assets... Current liabilities Long-term notes payable. Accounts payable... 1. Current ratio 2. Acid-test ratio 3. Accounts receivable turnover Round to 1 decimal place. 4. Days' sales uncollected 5. Inventory turnover 6. Days' sales in inventory 7. Accounts payable turnover 8. Days' purchases in accounts payables N N > > $650,000 425,000 78,000 54,600 N Ending Balances Beginning balances 19,500 15,000 65,000 60,000 71,500 64,500 195,000 183,900 $351.000 $323,400 $52,700 100,000 12,000 $62,400 97,500 16,000 Question 5 (8 points) Use the financial data shown below to calculate the following ratios for the current year: Income Statement data Sales (all on credit) Cost of goods sold Income before taxes. Net profit Cash Accounts receivable (net) Inventory... Property, plant and equipment (net)..... Total assets... Current liabilities Long-term notes payable. Accounts payable... 1. Current ratio 2. Acid-test ratio 3. Accounts receivable turnover Round to 1 decimal place. 4. Days' sales uncollected 5. Inventory turnover 6. Days' sales in inventory 7. Accounts payable turnover 8. Days' purchases in accounts payables N N > > $650,000 425,000 78,000 54,600 N Ending Balances Beginning balances 19,500 15,000 65,000 60,000 71,500 64,500 195,000 183,900 $351.000 $323,400 $52,700 100,000 12,000 $62,400 97,500 16,000

Answer rating: 100% (QA)

The image you have provided shows financial data for a company including an income statement for the current year and balance sheet items with ending and beginning balances You are asking to calculate ... View the full answer