THERE are 18 steps!!!

- Balance sheet A B 1 1 Justice Corporation N Balance Sheets 3 December 31, 2020 and 2019 4 (amounts in thousands) 5 2020 2019 6 Assets 7 Current assets: 8 Cash $ 5,610 $ 3,000 9 Accounts receivables 2,800 2,420 10 Inventory 1,700 1,500 11 Other current assets 3,520 1,530 12 Total current assets $ 13,630 $ 8,450 13 Other assets 22,500 19,500 14 Total assets $ 36,130$ 27,950 15 4 Total assets $ 36,130 $ 27,950 5 5 Liabilities 7 Total current liabilities $ 14,500 $ 12,500 B Long-term liabilities 8,630 8,450 9 Total liabilities $ 23,130$ 20,950 ) 1 Stockholders' equity 2 Total common stockholders' equity 13,000 7,000 3 3 4 Total liabilities and equity $ 36,130 $ 27,950 A B 1 Justice Corporation N Income Statement 3 For the Year Ended December 31, 2020 (amounts in thousands) 4 5 2020 6 Sales revenues 6 $ 16,425 7 Less: Cost of goods sold 5,120 8 Gross profit $ 11,305 9 Less: Operating expenses 2,705 10 Operating income $ 8,600 11 Less: Interest expense 400 12 Income before income taxes $ 8,200 13 Less: Income tax expense 5,600 14 Net income $ $ 2,600 E Homework: Chapter 14 Homework Question 8, E14-23A (sl... Part 1 of 18 HW Score: 46.37%, 9.27 of 20 points O Points: 0 of 6 O Save Next question Justice Corporation reported these figures: 2 (Click the icon to view the balance sheet.) (Click the icon to view the income statement.) Justice Corporation has 3,250,000 shares of common stock outstanding. Its stock has traded recently at S29.20 per share. You would like to gain a better understanding of Justice Corporation's financial position. Assume all sales are on credit. Read the requirement. a. Inventory turnover Enter the formula on the first line, then calculate the inventory turnover on the next line. (Enter amounts in thousands as provided to you in the problem statement. Round your answer to one decimal place.) Inventory turnover - Balance sheet A B 1 1 Justice Corporation N Balance Sheets 3 December 31, 2020 and 2019 4 (amounts in thousands) 5 2020 2019 6 Assets 7 Current assets: 8 Cash $ 5,610 $ 3,000 9 Accounts receivables 2,800 2,420 10 Inventory 1,700 1,500 11 Other current assets 3,520 1,530 12 Total current assets $ 13,630 $ 8,450 13 Other assets 22,500 19,500 14 Total assets $ 36,130$ 27,950 15 4 Total assets $ 36,130 $ 27,950 5 5 Liabilities 7 Total current liabilities $ 14,500 $ 12,500 B Long-term liabilities 8,630 8,450 9 Total liabilities $ 23,130$ 20,950 ) 1 Stockholders' equity 2 Total common stockholders' equity 13,000 7,000 3 3 4 Total liabilities and equity $ 36,130 $ 27,950 A B 1 Justice Corporation N Income Statement 3 For the Year Ended December 31, 2020 (amounts in thousands) 4 5 2020 6 Sales revenues 6 $ 16,425 7 Less: Cost of goods sold 5,120 8 Gross profit $ 11,305 9 Less: Operating expenses 2,705 10 Operating income $ 8,600 11 Less: Interest expense 400 12 Income before income taxes $ 8,200 13 Less: Income tax expense 5,600 14 Net income $ $ 2,600 E Homework: Chapter 14 Homework Question 8, E14-23A (sl... Part 1 of 18 HW Score: 46.37%, 9.27 of 20 points O Points: 0 of 6 O Save Next question Justice Corporation reported these figures: 2 (Click the icon to view the balance sheet.) (Click the icon to view the income statement.) Justice Corporation has 3,250,000 shares of common stock outstanding. Its stock has traded recently at S29.20 per share. You would like to gain a better understanding of Justice Corporation's financial position. Assume all sales are on credit. Read the requirement. a. Inventory turnover Enter the formula on the first line, then calculate the inventory turnover on the next line. (Enter amounts in thousands as provided to you in the problem statement. Round your answer to one decimal place.) Inventory turnover