Answers
a) Average inventory= ($199000+185000)/2= $192000
Inventory turnover ratio= Cost of goods sold/Average inventory
3.8= Cost of goods sold/192000
Cost of goods sold= 192000*3.8
Cost of goods sold= $729600
b) Average accounts receivable= ($74500+125000)/2= $99750
Accounts receivable turnover= Net sales/Average accounts receivable
8.7= Net sales/99750
Net sales= $99750*8.7
Net sales= $867825
c) Average common stockholders' equity= ($399000+399000+118000+107000)/2= $511500
Return on common stockholders' equity= Net income/Average common stockholders' equity
26%= Net income/511500
Net income= $511500*26%
Net income= $132990
d) Return on assets= Net income/Average total assets
12.5%= $132990/Average total assets
Average total assets= $132990/12.5%
Average total assets= $1063920
Average total assets= (Beginning assets+Ending assets)/2
$1063920= ($593000+Ending assets)/2
$2127840= $593000+Ending assets
Ending assets= 2127840-593000= $1534840
Total assets at December 31, 2017= $1534840
NOTE:- For any problem regarding the answer please ask in the comment section.
.Similar Solved Questions
1 answer
Which one of the following types of assets should not be classified as property, plant, and equipment? A). Leasehold Imp...
Which one of the following types of assets should not be classified as property, plant, and equipment? A). Leasehold Improvements B). Idle Land and Buildings C). Long-Lived Tangible Assets D). Fully-Depreciated Building (still in use)...
1 answer
Without a well-conceived plan against which to compare actual performance, which of the following is NOT...
Without a well-conceived plan against which to compare actual performance, which of the following is NOT true: None of the answers are true if a company does not have a well-conceived plan O All of the answers are true if a company does not have a well- conceived plan It is difficult to determine ho...
1 answer
Rients Corporation is a service company that measures its output by the number of customers served. The company has prov...
Rients Corporation is a service company that measures its output by the number of customers served. The company has provided the following fixed and variable cost estimates that it uses for budgeting purposes and the actual results of operations for October. Fixed Element per Month Variable Elem...
1 answer
For the forward reaction (from left to right) of the following equilibrium: 10 points] (a) Draw...
For the forward reaction (from left to right) of the following equilibrium: 10 points] (a) Draw an energy diagram (assuming the products are more stable) with energy levels for the reactants, the transition state (TS), and the products clearly labeled (b) Ilustrate a possible structure of TS with a ...
1 answer
A financial analyst for skdlon Manufacturing prepared the following report: Customers Customer− Level Operating Income Customer...
A financial analyst for skdlon Manufacturing prepared the following report: Customers Customer− Level Operating Income Customer Revenue A $5,719.00 $26,250 B $4,357.00 $30,000 C $3,294.00 $15,000 D $1,256.50 $7,300 ...
1 answer
Stocks There are two primary means to earn income as a stockholder. The first method is...
Stocks There are two primary means to earn income as a stockholder. The first method is dividend income and the second method is earnings from capital gains. With respect to the investor seeking dividend income, when the investor buys a stock from a corporation with a primary focus to earn dividend ...
1 answer
1. Make a pert chart out the data Table #1: Patio Deck Re-Build Project Activity Time...
1. Make a pert chart out the data Table #1: Patio Deck Re-Build Project Activity Time Activity Identity Milestones Activity's Immediate Predecessor (What activity must occur before this one...) (davs) ZA None A в 3c B D B JE B B E GG B 1н B 91 B 20 A 2K B B Bidding Phase Complete Est...
1 answer
How do I type 2.18 into java? We have to make up a scenario and put...
How do I type 2.18 into java? We have to make up a scenario and put it into netbeans java. range increases byte, short, int, long, float, double Lab2: Calculate Changes Problem Statement: This program lets the user enter the amount in decimal representing dollars and cents and output a report listi...
1 answer
Determine the 10th percentile when X~N(275,10). Determine the 90th percentile when X~N(25,2).
Determine the 10th percentile when X~N(275,10). Determine the 90th percentile when X~N(25,2)....
1 answer
A farmer is producing Grains and Vegetables with a given set of input mix and water....
A farmer is producing Grains and Vegetables with a given set of input mix and water. The input mix includes fertilizer and labor in fixed ratios so they can be treated as one variable, with grains needing 5 units of input and and vegetables needing 50 units of input per acre. Water is also used, gra...
1 answer
As a Dental Nurse Manager, essentially you'll be a manager of problems! Outline the steps in...
As a Dental Nurse Manager, essentially you'll be a manager of problems! Outline the steps in a best practice problem-solving method in the box below....
1 answer
Part A If A = + 2 ị-2 J-5 k and C:-31-2 j-3 k , which...
Part A If A = + 2 ị-2 J-5 k and C:-31-2 j-3 k , which of the following numbers is closest to the magnitude of A-C? 0 9 0 5 Submit Previous Answers Request Answer Incorrect: Try Again; 5 attempts remaining...
1 answer
Exercise 22-19 (Part Level Submission) Rap Corporation produces outdoor portable fireplace units. The following per unit...
Exercise 22-19 (Part Level Submission) Rap Corporation produces outdoor portable fireplace units. The following per unit cost information is available: direct materials $23, direct labor $29, variable manufacturing overhead $13, fixed manufacturing overhead $20. variable selling and administrative e...
1 answer
- When a packet arrives at a router's interface, what information does the router require in...
- When a packet arrives at a router's interface, what information does the router require in order to make a forwarding decision? - Why does the router not keep track of every packet that it helps deliver? Use examples to justify your answer. - Are there any instances in which a router should ke...
1 answer
MySQL Multiple Choice Answer as soon as possible 1. What does the pt-table-checksum tool do? (a)...
MySQL Multiple Choice Answer as soon as possible 1. What does the pt-table-checksum tool do? (a) It adds a column to every table in every database, that will be populated with the checksum of the row, so that when data is changed, the data can be verified when replicated. (b) It calculates checksums...
1 answer
Problem 24-05A a-c (Video) (Part Level Submission) Hart Labs, Inc. provides mad cow disease testing for...
Problem 24-05A a-c (Video) (Part Level Submission) Hart Labs, Inc. provides mad cow disease testing for both state and federal governmental agricultural agencies. Because the company's customers are governmental agencies, prices are strictly regulated. Therefore, Hart Labs must constantly monito...
1 answer
Question 10 1 pts What hazard classification would you expect a 90% ethyl acetate/10% hexane mixture...
Question 10 1 pts What hazard classification would you expect a 90% ethyl acetate/10% hexane mixture to have? Flammable liquid Corrosive Toxic Flammable solid Question 16 1 pts The TLC diagram shown represents the analysis of three different compounds. Which of the three columns is/are likely to rep...
1 answer
Need help explaining these 3 terms in 4-5 sentences. Question 1: In a process controlled by...
Need help explaining these 3 terms in 4-5 sentences. Question 1: In a process controlled by PID loop, explain the role of below terms in relation to PID output, SP and PV. In no more than 4-5 lines. Proportional Gain (P) Integral Gain (0 Derivative Gain (D)...
1 answer
Selected comparative financial statements of Korbin Company follow. KORBIN COMPANY Comparative Income Statements For Years Ended...
Selected comparative financial statements of Korbin Company follow. KORBIN COMPANY Comparative Income Statements For Years Ended December 31, 2017, 2016, and 2015 2017 2016 Sales $430,561 $ 329,845 Cost of goods sold 259, 198 208,132 Gross profit 171,363 121, 713 selling expenses 61,140 45,519 Admin...
1 answer
Question1: In acidic conditions epoxides can be protonated. Protonated epoxides can undergo ring opening in the...
Question1: In acidic conditions epoxides can be protonated. Protonated epoxides can undergo ring opening in the presence of poor nucleophiles. In these reactions the nucleophile preferentially attacks the more substituted carbon atom of the epoxide, as shown in the example below. Explain why the nu...