93.
Excerpts from Stealth Company’s December 31, 2018 and 2017, financial statements are
presented below:
2018
2017
Accounts receivable
$40,000
$36,000
Inventory
28,000
35,000
Net sales
190,000
186,000
Cost of goods sold
114,000
108,000
Total assets
425,000
405,000
Total stockholders’ equity
240,000
225,000
Net income
32,500
28,000
($28,000 + $35,000)/2
Stealth Company’s 2018 average days in inventory is (round intermediate calculations to
two decimal places and final answer to one decimal place):
94.
Excerpts from Stealth Company’s December 31, 2018 and 2017, financial statements are
presented below:
2018
2017
Accounts receivable
$40,000
$36,000
Inventory
28,000
35,000
Net sales
190,000
186,000
Cost of goods sold
114,000
108,000
Total assets
425,000
405,000
Total stockholders’ equity
240,000
225,000
Net income
32,500
28,000
Stealth Company’s 2018 debt to equity ratio is (rounded to one decimal place):
95.
Excerpts from TPX Company’s December 31, 2018 and 2017, financial statements are
presented below:
2018
2017
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
($80,000 + $72,000)/2
TPX Company’s 2018 receivables turnover ratio is (rounded to one decimal place):
96.
Excerpts from TPX Company’s December 31, 2018 and 2017, financial statements are
presented below:
2018
2017
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
($80,000 + $72,000)/2
TPX Company’s 2018 average collection period is (round intermediate calculations to one
decimal place and final answer to the nearest day):
97.
Excerpts from TPX Company’s December 31, 2018 and 2017, financial statements are
presented below:
2018
2017
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
($84,000 + $70,000)/2
TPX Company’s 2018 inventory turnover is (rounded to one decimal place):
98.
Excerpts from TPX Company’s December 31, 2018 and 2017, financial statements are
presented below:
2018
2017
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
($84,000 + $70,000)/2
TPX Company’s 2018 average days in inventory is (round all calculations to one decimal
place):
99.
Excerpts from TPX Company’s December 31, 2018 and 2017, financial statements are
presented below:
2018
2017
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 2018 debt to equity ratio is:
100.
Excerpts from Stealth Company’s December 31, 2018 and 2017, financial statements are
presented below:
2018
2017
Accounts receivable
$40,000
$36,000
Inventory
28,000
35,000
Net sales
190,000
186,000
Cost of goods sold
114,000
108,000
Total assets
425,000
405,000
Total stockholders’ equity
240,000
225,000
Net income
32,500
28,000
Stealth Company’s 2018 gross profit ratio is:
101.
Excerpts from Stealth Company’s December 31, 2018 and 2017, financial statements are
presented below:
2018
2017
Accounts receivable
$40,000
$36,000
Inventory
28,000
35,000
Net sales
190,000
186,000
Cost of goods sold
114,000
108,000
Total assets
425,000
405,000
Total stockholders’ equity
240,000
225,000
Net income
32,500
28,000
Stealth Company’s 2018 return on assets is (rounded to one decimal place):
102.
Excerpts from Stealth Company’s December 31, 2018 and 2017, financial statements are
presented below:
2018
2017
Accounts receivable
$40,000
$36,000
Inventory
28,000
35,000
Net sales
190,000
186,000
Cost of goods sold
114,000
108,000
Total assets
425,000
405,000
Total stockholders’ equity
240,000
225,000
Net income
32,500
28,000
Stealth Company’s 2018 profit margin is (rounded to one decimal place):
103.
Excerpts from Stealth Company’s December 31, 2018 and 2017, financial statements are
presented below:
2018
2017
Accounts receivable
$40,000
$36,000
Inventory
28,000
35,000
Net sales
190,000
186,000
Cost of goods sold
114,000
108,000
Total assets
425,000
405,000
Total stockholders’ equity
240,000
225,000
Net income
32,500
28,000
Stealth Company’s 2018 asset turnover is (rounded to one decimal place):
104.
Excerpts from Stealth Company’s December 31, 2018 and 2017, financial statements are
presented below:
2018
2017
Accounts receivable
$40,000
$36,000
Inventory
28,000
35,000
Net sales
190,000
186,000
Cost of goods sold
114,000
108,000
Total assets
425,000
405,000
Total stockholders’ equity
240,000
225,000
Net income
32,500
28,000
Stealth Company’s 2018 return on equity is (rounded to one decimal place):
105.
Excerpts from TPX Company’s December 31, 2018 and 2017, financial statements are
presented below:
2018
2017
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 2018 gross profit ratio is:
106.
Excerpts from TPX Company’s December 31, 2018 and 2017, financial statements are
presented below:
2018
2017
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 2018 return on assets is (rounded to one decimal place):
107.
Excerpts from TPX Company’s December 31, 2018 and 2017, financial statements are
presented below:
2018
2017
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 2018 profit margin is (rounded to one decimal place):
108.
Excerpts from TPX Company’s December 31, 2018 and 2017, financial statements are
presented below:
2018
2017
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 2018 asset turnover is (rounded to one decimal place):
109.
Excerpts from TPX Company’s December 31, 2018 and 2017, financial statements are
presented below:
2018
2017
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 2018 return on equity is (rounded to one decimal place):
110.
Given the information below, what is the company’s gross profit?
Sales Revenue
$320,000
Accounts Receivable
$50,000
Ending Inventory
$100,000
Cost of Goods Sold
$250,000
Sales Returns
$20,000
111.
Return on assets equals:
112.
The profit margin ratio indicates the amount of net income achieved for each:
113.
Nerf Mania reports net income of $500,000, net sales of $4,000,000, and average assets of
$2,000,000. The return on assets is:
114.
Nerf Mania reports net income of $500,000, net sales of $4,000,000, and average assets of
$2,000,000. The profit margin is:
115.
Nerf Mania reports net income of $500,000, net sales of $4,000,000, and average assets of
$2,000,000. The asset turnover is: