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Bus fp4061 emily assessment10 1

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BUS-FP4061 - Managerial Accounting Principles, Capella Uni Assessment 10: Ratio Analysis Worksheet Problem 1 Solve the given problem based on the following scenario. Crouch Corp.'s balance sheet and income statement, including all credit sales, are given in the table below. As of December 31, 2016: • Inventories were $15660,. • Total assets were $85410,. • Common stock was $31950,. • Retained earnings were $11430,. Crouch Corp. Income Statement (December 31, 2017) Sales $ 283.950 Cost of goods sold 212.490 Gross profit 71.460 Operating expenses 44.280 Interest expenses 1.980 Income before taxes 25.200 Taxes (at 20%) 5.040 Net income $ 20.160 Crouch Corp. Balance Sheet (December 31, 2017) Amount ($) Liability and Equity Cash 5.490 Accounts payable Short-term investment 6.210 Accrued wages payable Accounts receivable 10.890 Income taxes payable Notes receivable 2.700 Notes payable (long-term) Inventory 12.150 Common stock Prepaid expenses 1.800 Retained earnings Plant 66.510 Total assets 105.750 Total liability and equity Assets Amount ($) Compute the following and show your work. Ratio Current ratio 2.51:1 Days' sales uncollected 14 days Days' sales in inventory 23.89 days Times interest earned 13.73 times Total asset turnover Calculation Current Assets / Current Liabilities = 39,240 / 15,66 CA: 5,490 + 6,210 + 10,890 + 2,700 + 12,150 + 1,8 CL: 10,350 + 2,970 + 2,340 = 15,660 Receivables / Sales x 365 10,890 / 283,950 x 365 = 13.9984 (Average Inventory / COGS) x ...
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