2008 Acct 304 Ch 5 Take Home Exam Master uneditted

2008 Acct 304 Ch 5 Take Home Exam Master uneditted - Acct...

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Acct 304 Ch 5 Exam Name Fall 2008 READ AND FOLLOW EXAM PREPARATION INSTRUCTIONS INCLUDED ON THE BLACKBOARD POSTING FOR THIS EXAM. FAILURE TO CAREFULLY FOLLOW INSTRUCTIONS MAY RESULT IN LOSS OF POINTS! Use the following to answer question 1: The following partial income statement and balance sheet information (in $ millions) comes from the Annual Report of Saratoga Springs Co. for the year ended, 12/31/06: Year ended 12/31/06 Net Sales 7,949 Total Operating Revenue 7,949 Cost of Goods Sold 4,767 Sales, General & Administrative 1,909 Interest Expense 416 Income Before Tax 667 Net Income 458 12/31/06 12/31/05 Cash and cash equivalents 975 64 Receivables, net 1,010 664 Inventories 1,055 519 Land, Buildings and Equipment at cost, net 2,764 1,501 Total Assets 16,540 5,091 Accounts payable 1,217 619 Total Current Liabilities 5,747 2,209 Long-term Debt 5,591 2,221 Deferred Income Taxes 407 423 Total Liabilities 12,811 5,039 Minority Interest 153 0 Retained earnings 2,568 2,468 Total Stockholders' Equity 3,576 52 Required : Compute the following amounts for Saratoga Springs Co.: 1A. Its receivables turnover ratio for 2006. 1B.
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This note was uploaded on 10/28/2008 for the course ACCT 304 taught by Professor Ed during the Spring '08 term at Brookdale.

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2008 Acct 304 Ch 5 Take Home Exam Master uneditted - Acct...

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