Excerpts from Stealth Company's December 31, 2021 and 2020, financial statements are presented below: 2021 2020 Accounts receivable $ 29,500 $ 43,000 Inventory 32,000 39,000 Net sales (all credit) 197,000 194,000 Cost of goods sold 125,000 118,000 Total assets 426,000 419,000 Total stockholders' equity 244,000 227,000 Net income 37,000 34,000

Excerpts from Stealth Company's December 31, 2021 and 2020, financial statements are presented below: 2021 2020 Accounts receivable $ 29,500 $ 43,000 Inventory 32,000 39,000 Net sales (all credit) 197,000 194,000 Cost of goods sold 125,000 118,000 Total assets 426,000 419,000 Total stockholders' equity 244,000 227,000 Net income 37,000 34,000

Cornerstones of Financial Accounting

4th Edition

ISBN:9781337690881

Author:Jay Rich, Jeff Jones

Publisher:Jay Rich, Jeff Jones

Chapter9: Long-term Liabilities

Section: Chapter Questions

Problem 89E: Ratio Analysis Rising Stars Academy provided the following information on its 2019 balance sheet and...

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Excerpts from TPX Company's December 31, 2021 and 2020, financial statements are presented below: 2021 2020 Accounts receivable $82,000 $68,000 Inventory 91,000 77,000 Net sales (all credit) 460,000 383,000 Cost of goods sold 256,000 225,000 Total assets 830,000 775,000 Total stockholders' equity 475,000 445,000 Net income 70,000 57,000 TPX Company's 2021 receivables turnover ratio is: (Round your answer to 1 decimal place.) Multiple Choice 5.6 times. 0.2 times. 1.0 times. 6.1 times.
Excerpts from Stealth Company's December 31, 2021 and 2020, financial statements are presented below: 2020 $ 29,000 $ 41,000 33,000 2021 Accounts receivable Inventory Net sales (all credit) Cost of goods sold Total assets 41,000 199,000 198,000 111,000 118,000 431,000 419,000 250,000 232,000 Total stockholders' equity Net income 36,000 31,000 Stealth Company's 2021 receivables turnover ratio is:
Excerpts from TPX Company's December 31, 2021 and 2020, financial statements are presented below: 2021 2020 Accounts receivable $82,000 $81,000 Inventory 90,000 73,000 Net sales 420,000 375,000 Cost of goods sold 260,000 221,000 Total assets 825,000 760,000 Total stockholders' equity 490,000 450,000 Net income 78,000 58,000 TPX Company's 2021 gross profit ratio is: (Round your answer to one decimal place.) Multiple Choice 61.9%. 43.1%. 47.1%. 38.1%.
Excerpts from TPX Company's December 31, 2021 and 2020, financial statements are presented below: 2021 2020 Accounts receivable $ 89,000 $ 80,000 Inventory 88,000 77,000 Net sales 450,000 384,000 Cost of goods sold 256,000 226,000 Total assets 825,000 785,000 Total stockholders' equity 490,000 420,000 Net income 70,000 60,000 TPX Company's 2021 return on equity is: (Round your answer to 1 decimal place.) Multiple Choice 15.4%. 14.3%. 1.5%. 3.1%.
Excerpts from TPX Company's December 31, 2021 and 2020, financial statements are presented below: 2021 2020 Accounts receivable $ 80,000 $ 72,000 Inventory 84,000 70,000 Net sales 400,000 372,000 Cost of goods sold 254,000 216,000 Total assets 850,000 810,000 Total stockholders’ equity 500,000 450,000 Net income 75,000 56,000 TPX Company's 2021 average days in inventory is: (Round all calculations to 1 decimal place.) Multiple Choice 110.6 days. 70.2 days. 121.7 days. 101.4 days. Incorrect
Excerpts from Dowling Company's December 31, 2021 and 2020, financial statements and key ratios are presented below (all numbers are in millions): 2021 2020 Accounts receivable (net) $ 20 $ 16 Net sales $ 115 $ 100 Cost of goods sold $ 60 $ 55 Net income $ 20 $ 17 Inventory turnover 5.22 Return on assets 10.3 % Equity multiplier 2.36 Dowling's 2021 average collection period is (rounded)? Show your work. Question 44 options:
Excerpts from TPX Company's December 31, 2021 and 2020, financial statements are presented below: 2021 2020 Accounts receivable $45,000 $37,000 Inventory 29,000 39,000 Net sales 196,000 189,000 Cost of goods sold 124,000 118,000 Total assets 432,000 410,000 Total stockholders' equity 243,000 232,000 Net income 37,000 37,000 TPX Company's 2021 debt to equity ratio is: Multiple Choice 15.23%. 8.79%. 30.58%. 77.78%.
Excerpts from Dowling Company's December 31, 2021 and 2020, financial statements and key ratios are presented below (all numbers are in millions): 2021 2020 Accounts receivable (net) $ 20 $ 16 Net sales $ 115 100 Cost of goods sold $ 60 55 Net income $ 20 17 Inventory turnover 5.22 Return on assets 10.3 % Equity multiplier 2.36 Dowling's average total assets for 2021 is (rounded): Multiple Choice 32. 210. 115. 194.
Problem I. The following data represent selected information from the comparative income statement and balance sheet for Little CPA Company for the years ended December 31, 2020 and 2019: 2020 2019 Net Sales (all on credit) P370,000 P333,000 Cost of goods sold 160,000 150,000 Gross profit 210,000 183,000 Income from operations 95,000 87,000 Interest expense 8,000 8,000 Net income 70,000 57,000 Cash 10,000 14,000 Accounts receivable, net 30,000 25,000 Inventory 43,000 40,000 Prepaid expenses 5,000 7,000 Total current assets 88,000 86,000 Total noncurrent assets 112,000 104,000 Total current liabilities 70,000 60,000 Total noncurrent liabilities 40,000 45,000 Ordinary share capital, no par* 60,000 60,000 Retained earnings 30,000 25,000 Note: 10,000 ordinary shares have been issued and outstanding since the company was established. They had a…
Problem I. The following data represent selected information from the comparative income statement and balance sheet for Little CPA Company for the years ended December 31, 2020 and 2019: 2020 2019 Net Sales (all on credit) P370,000 P333,000 Cost of goods sold 160,000 150,000 Gross profit 210,000 183,000 Income from operations 95,000 87,000 Interest expense 8,000 8,000 Net income 70,000 57,000 Cash 10,000 14,000 Accounts receivable, net 30,000 25,000 Inventory 43,000 40,000 Prepaid expenses 5,000 7,000 Total current assets 88,000 86,000 Total noncurrent assets 112,000 104,000 Total current liabilities 70,000 60,000 Total noncurrent liabilities 40,000 45,000 Ordinary share capital, no par* 60,000 60,000 Retained earnings 30,000 25,000 Note: 10,000 ordinary shares have been issued and outstanding since the company was established. They had a…
Indigo Corporation Indigo Corporation Balance Sheets December 31 Income Statements For the Years Ended December 31 2020 2019 2020 2019 2018 Sales revenue $ 21,000 $606,000 $ 31,000 $ 19,000 $746,000 Cash Less: Sales returns and allowances 41,000 31,000 Accounts receivable (net) 49,000 51,000 46,000 Other current assets 96,000 Net sales 101,000 70,000 705,000 575,000 76,000 51,000 431,000 Investments 61,000 Cost of goods sold 356,000 500,000 370,000 358,000 Gross profit Plant and equipment (net) 274,000 219,000 $739,000 $614,000 $547,000 Operating expenses (including income taxes) 181,000 151,000 $ 68,000 $ 93,000 $ 86,000 $ 81,000 $ 71,000 Current liabilities Net income Long-term debt 151,000 91,000 56,000 Additional information: Common stock, $10 par 306,000 326,000 316,000 126,000 Retained earnings 176,000 114,000 The market price of Indigo's common stock was $7.00, $7.50, and $8.50 for 2018, 2019, and 2020, respectively. 1. You must compute dividends paid. All dividends were paid in…
Selected information from the comparative financial statements of AppleVerse Company for the year ended December 31 appears below: 2018 2017 Php Php Accounts receivable (net) 175,000 200,000 Inventory 130,000 150,000 Total assets 1,100,000 800,000 Current liabilities 140,000 110,000 Long-term debt 410,000 300,000 Net credit sales 800,000 700,000 Cost of goods sold 600,000 530.000 Interest expense 40.000 25,000 Income tax expense 60.000 29,000 Net income 150.000 85,000 Net cash provided by operating 220,000 135,000 activities Compute for the Receivables Turnover for 2018. O 2.13 O 4.27 O 5.95 O 3.23

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bartleby, a Learneo, Inc. business

		2021		2020
Accounts receivable	$	29,500	$	43,000
Inventory		32,000		39,000
Net sales (all credit)		197,000		194,000
Cost of goods sold		125,000		118,000
Total assets		426,000		419,000
Total stockholders' equity		244,000		227,000
Net income		37,000		34,000