Balance sheet missing information

SoccerBoss
Category:
Other
Price: $5 USD

Question description

The following information is provided in the 2011 annual report to shareholders of
paris-perfume.com:

                                                      December 31, 2011                December 31, 2010
Accounts receivable                               ???                                        $100 million
Inventory                                                $70 million                             $30 million
Other assets                                           ???                                        $170 million
Total assets                                            ???                                        $300 million
Total liabilities                                         ???                                        $100 million
Total stockholders’ equity                       ???                                        $200 million
                                                     For the year ended Dec. 31, 2011
Net sales                                                ???
Cost of goods sold                                  ???
Net income                                            $40 million
Return on assets                                     10%
Receivables turnover                               8.0
Inventory turnover                                    12.0
Asset turnover 2.5
Return on stockholders’ equity                 20%
Profit margin on sales                               4%

Required: Compute the missing amount in the paris-perfume.com financial statement
information, indicated by ??? in the table above.

Tutor Answer

(Top Tutor) Daniel C.
(997)
School: Rice University
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