The correct answer is 57.14 please show work.

Based on the information in the table, and using a 365-day year,calculate operating cycle.

Round the answers to two decimal places

Balance Sheet December 31, 2012

Cash and marketable securities

$198,000

Accounts payable

$288,000

Accounts receivable

$469,000

Notes payable

$65,000

Inventories

$577,000

Accrued expenses

$84,000

Prepaid expenses

$15,700

Total current liabilities

$437,000

Total current assets

$1,259,700

Long-term debt

$237,000

Gross fixed assets

$1,954,000

Par value and paid-in-capital

$199,000

Less: accumulated depreciation

$476,000

Retained Earnings

$1,864,700

Net fixed assets

$1,478,000

Common Equity

2,063,700

Total assets

$2,737,700

Total liabilities and owner

Unlock all answers

Related questions

Weekly leaderboard

answer

watching

120

views

For unlimited access to Homework Help, a Homework+ subscription is required.

You have 0 free answers left.
Get unlimited access to 3.8 million step-by-step answers.

Get unlimited access

Already have an account? Log in

Jarrod RobelLv2

28 Sep 2019

Get 1 free homework help answer.

Already have an account? Log in

The following data were taken from the balance sheet of Nilo Company at the end of two recent fiscal years:

		Current Year	Previous Year
Current assets:
Cash		$297,200	$224,000
Marketable securities		344,100	252,000
Accounts and notes receivable (net)		140,700	84,000
Inventories		880,400	658,800
Prepaid expenses		453,600	421,200
	Total current assets	$2,116,000	$1,640,000
Current liabilities:
Accounts and notes payable
	(short-term)	$266,800	$280,000
Accrued liabilities		193,200	120,000
	Total current liabilities	$460,000	$400,000

a. Determine for each year (1) the working capital, (2) the current ratio, and (3) the quick ratio. Round ratios to one decimal place.

b. The liquidity of Nilo has from the preceding year to the current year. The working capital, current ratio, and quick ratio have all . Most of these changes are the result of an in current assets relative to current liabilities.

Measures of liquidity, Solvency and Profitability

The comparative financial statements of Marshall Inc. are as follows. The market price of Marshall Inc. common stock was $ 56 on December 31, 20Y2.

Marshall Inc.
Comparative Retained Earnings Statement
For the Years Ended December 31, 20Y2 and 20Y1
			20Y2	20Y1
Retained earnings, January 1			$ 1,942,900	$ 1,649,000
Net income			438,000	337,700
Total			$ 2,293,300	$ 1,986,700
Dividends
	On preferred stock		$ 7,000	$ 7,000
	On common stock		36,800	36,800
		Total dividends	$ 43,800	$ 43,800
Retained earnings, December 31			$ 2,337,100	$ 1,942,900

Marshall Inc.
Comparative Income Statement
For the Years Ended December 31, 20Y2 and 20Y1
	20Y2	20Y1
Sales	$ 2,609,750	$ 2,404,520
Cost of goods sold	899,360	827,410
Gross profit	$ 1,710,390	$ 1,577,110
Selling expenses	$ 578,010	$ 708,850
Administrative expenses	492,370	416,310
Total operating expenses	1,070,380	1,125,160
Income from operations	$ 640,010	$ 451,950
Other income	33,690	28,850
	$ 673,700	$ 480,800
Other expense (interest)	176,000	96,800
Income before income tax	$ 497,700	$ 384,000
Income tax expense	59,700	46,300
Net income	$ 438,000	$ 337,700

Marshall Inc.
Comparative Balance Sheet
December 31, 20Y2 and 20Y1
			Dec. 31, 20Y2	Dec. 31, 20Y1
Assets
Current assets
	Cash		$ 536,140	$ 416,030
	Marketable securities		811,450	689,410
	Accounts receivable (net)		489,100	459,900
	Inventories		365,000	277,400
	Prepaid expenses		101,436	83,210
		Total current assets	$ 2,303,126	$ 1,925,950
Long-term investments			1,131,364	395,490
Property, plant, and equipment (net)			2,640,000	2,376,000
Total assets			$ 6,074,490	$ 4,697,440
Liabilities
Current liabilities			$ 677,390	$ 684,540
Long-term liabilities
	Mortgage note payable, 8 %		$ 990,000	$ 0
	Bonds payable, 8 %		1,210,000	1,210,000
		Total long-term liabilities	$ 2,200,000	$ 1,210,000
Total liabilities			$ 2,877,390	$ 1,894,540
Stockholders' Equity
Preferred $ 0.70 stock, $ 40 par			$ 400,000	$ 400,000
Common stock, $ 10 par			460,000	460,000
Retained earnings			2,337,100	1,942,900
	Total stockholders' equity		$ 3,197,100	$ 2,802,900
Total liabilities and stockholders' equity			$ 6,074,490	$ 4,697,440

Required:

Determine the following measures for 20Y2, rounding to one decimal place, except for dollar amounts, which should be rounded to the nearest cent. Use the rounded answer of the requirement for subsequent requirement, if required. Assume 365 days a year.

1. Working capital	$
2. Current ratio
3. Quick ratio
4. Accounts receivable turnover
5. Number of days' sales in receivables		days
6. Inventory turnover
7. Number of days' sales in inventory		days
8. Ratio of fixed assets to long-term liabilities
9. Ratio of liabilities to stockholders' equity
10. Times interest earned
11. Asset turnover
12. Return on total assets		%
13. Return on stockholdersâ equity		%
14. Return on common stockholdersâ equity		%
15. Earnings per share on common stock	$
16. Price-earnings ratio
17. Dividends per share of common stock	$
18. Dividend yield		%

ivorymuskrat583

Measures of liquidity, Solvency and Profitability

The comparative financial statements of Marshall Inc. are as follows. The market price of Marshall Inc. common stock was $ 56 on December 31, 20Y2.

Marshall Inc.
Comparative Retained Earnings Statement
For the Years Ended December 31, 20Y2 and 20Y1
			20Y2	20Y1
Retained earnings, January 1			$ 1,942,900	$ 1,649,000
Net income			438,000	337,700
Total			$ 2,293,300	$ 1,986,700
Dividends
	On preferred stock		$ 7,000	$ 7,000
	On common stock		36,800	36,800
		Total dividends	$ 43,800	$ 43,800
Retained earnings, December 31			$ 2,337,100	$ 1,942,900

Marshall Inc.
Comparative Income Statement
For the Years Ended December 31, 20Y2 and 20Y1
	20Y2	20Y1
Sales	$ 2,609,750	$ 2,404,520
Cost of goods sold	899,360	827,410
Gross profit	$ 1,710,390	$ 1,577,110
Selling expenses	$ 578,010	$ 708,850
Administrative expenses	492,370	416,310
Total operating expenses	1,070,380	1,125,160
Income from operations	$ 640,010	$ 451,950
Other income	33,690	28,850
	$ 673,700	$ 480,800
Other expense (interest)	176,000	96,800
Income before income tax	$ 497,700	$ 384,000
Income tax expense	59,700	46,300
Net income	$ 438,000	$ 337,700

Marshall Inc.
Comparative Balance Sheet
December 31, 20Y2 and 20Y1
			Dec. 31, 20Y2	Dec. 31, 20Y1
Assets
Current assets
	Cash		$ 536,140	$ 416,030
	Marketable securities		811,450	689,410
	Accounts receivable (net)		489,100	459,900
	Inventories		365,000	277,400
	Prepaid expenses		101,436	83,210
		Total current assets	$ 2,303,126	$ 1,925,950
Long-term investments			1,131,364	395,490
Property, plant, and equipment (net)			2,640,000	2,376,000
Total assets			$ 6,074,490	$ 4,697,440
Liabilities
Current liabilities			$ 677,390	$ 684,540
Long-term liabilities
	Mortgage note payable, 8 %		$ 990,000	$ 0
	Bonds payable, 8 %		1,210,000	1,210,000
		Total long-term liabilities	$ 2,200,000	$ 1,210,000
Total liabilities			$ 2,877,390	$ 1,894,540
Stockholders' Equity
Preferred $ 0.70 stock, $ 40 par			$ 400,000	$ 400,000
Common stock, $ 10 par			460,000	460,000
Retained earnings			2,337,100	1,942,900
	Total stockholders' equity		$ 3,197,100	$ 2,802,900
Total liabilities and stockholders' equity			$ 6,074,490	$ 4,697,440

Required:

1. Working capital	$
2. Current ratio
3. Quick ratio
4. Accounts receivable turnover
5. Number of days' sales in receivables		days
6. Inventory turnover
7. Number of days' sales in inventory		days
8. Ratio of fixed assets to long-term liabilities
9. Ratio of liabilities to stockholders' equity
10. Times interest earned
11. Asset turnover
12. Return on total assets		%
13. Return on stockholdersâ equity		%
14. Return on common stockholdersâ equity		%
15. Earnings per share on common stock	$
16. Price-earnings ratio
17. Dividends per share of common stock	$
18. Dividend yield		%

byzantiumlizard838

Current Year

Previous Year

1. Working capital

2. Current ratio

3. Quick ratio

Home

Homework Help 3,900,000

Accounting 580,000

Cash and marketable securities	$198,000	Accounts payable	$288,000
Accounts receivable	$469,000	Notes payable	$65,000
Inventories	$577,000	Accrued expenses	$84,000
Prepaid expenses	$15,700	*Total current liabilities*	*$437,000*
*Total current assets*	*$1,259,700*	*Long-term debt*	*$237,000*
Gross fixed assets	$1,954,000	Par value and paid-in-capital	$199,000
Less: accumulated depreciation	$476,000	Retained Earnings	$1,864,700
Net fixed assets	$1,478,000	*Common Equity*	*2,063,700*
*Total assets*	*$2,737,700*	*Total liabilities and owner*