BU330 Accounting for Managers Directions: Be sure to make an electronic copy of your answer before submitting it to Ashworth College for grading. Financial Statement Analysis The following information relates to Harris Corporation. Ac
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| BU330 Accounting for Managers | |||||||||||
| Directions: Be sure to make an electronic copy of your answer before submitting it to Ashworth College for grading. | |||||||||||
| Financial Statement Analysis | |||||||||||
| The following information relates to Harris Corporation. | |||||||||||
| Account | Current year | Prior year | |||||||||
| Net sales (all credit) | $520,125 | $499,500 | |||||||||
| Cost of goods sold | $375,960 | $353,600 | |||||||||
| Gross profit | $144,165 | $145,900 | |||||||||
| Income from operations | $95,500 | $79,900 | |||||||||
| Interest expense | $23,500 | $19,500 | |||||||||
| Net income | $57,600 | $51,600 | |||||||||
| Cash | $30,600 | $15,900 | |||||||||
| Accounts receivable, net | $33,800 | $23,200 | |||||||||
| Inventory | $42,000 | $30,300 | |||||||||
| Prepaid expenses | $2,000 | $1,500 | |||||||||
| Total current assets | $108,400 | $70,900 | |||||||||
| Total long-term assets | $62,000 | $38,000 | |||||||||
| Total current liabilities | $46,000 | $41,600 | |||||||||
| Total long-term liabilities | $20,000 | $22,700 | |||||||||
| Common stock, no par, | $30,000 | $30,000 | |||||||||
| 3,000 shares, value $50/share | |||||||||||
| Required: | |||||||||||
| a. What is the acid-test ratio for the current year? | |||||||||||
| b. What is the inventory turnover for the current year? | |||||||||||
| c. What is days' sales in receivables for the current year? | |||||||||||
| d. What is the book value per share of common stock for the current year? | |||||||||||
| e. What is the price-earnings ratio for the current year? | |||||||||||
| f. What is the rate of return on total assets for the current year? | |||||||||||
| g. What is the times-interest-earned ratio for the current year? | |||||||||||
| h. What is the current ratio for the current year? | |||||||||||
| This is the end of Assignment 08. | |||||||||||
10 years ago
BU330 Accounting for Managers Directions: Be sure to make an electronic copy of your answer before submitting it to Ashworth College for grading. Financial Statement Analysis The following information relates to Harris Corporation. Ac
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