50.1K
Verified Solution
Link Copied!
XYZ provided the following financial information:
| XYZ Balance Sheet As of 12/31/19 |
| Assets: | | | | Liabilities and Equity: | | | |
| Cash and marketable securities | | $ 27,874 | | Accounts payable and accruals | | $ 153,543 | |
| Accounts receivable | | $ 142,609 | | Short-term notes payable | | $ 23,290 | |
| Inventory | | $ 214,727 | | Total current liabilities | | $ 176,833 | |
| Total current assets | | $ 385,210 | | Long term debt | | $ 155,510 | |
| Net plant and equipment | | $ 602,490 | | Total liabilities | | $ 332,343 | |
| Goodwill and other assets | | $ 42,422 | | Common stock | | $ 312,366 | |
| | | | | Retained earnings | | $ 385,413 | |
| Total assets | | $ 1,030,122 | | Total liabilities and equity | | $ 1,030,122 | |
| In addition, it was reported that the firm had a net income of: | | $ 156,681 |
| and net sales of: | | $ 4,319,088 |
Calculate the following ratios for this firm (Use 365 days for calculation. Round answers to 2 decimal places, e.g. 52.75.):
| Current Ratio | | | times |
| Quick Ratio | | | times |
| Average Collection Period | | | days |
| Total Asset Turnover | | | times |
| Fixed Asset Turnover | | | times |
Answer & Explanation
Solved by verified expert
