Income tax rate 25%
Selling and marketing expense $160,000
General and administrative expenses $200,000
Gross profit $550,000
Cost of goods sold $400,000
Use your knowledge of balance sheets and common –size statements to fill in the missing dollar amounts.
Cash $25,000 3.4%
Account receivable $125,000 _______
Inventory _______ 27.1%
Total current assets $350,000 ________
Gross plant and equipment _______ 95.0%
Less: accumulated depreciation $313,000 42.5%
Net plant and equipment ________ ________
Total assets $737,000 100.0%
Use your knowledge to fill in the missing amounts.
Accounts receivable 80,000
Total current assets ___________
Gross plant and equipment ___________
Less accumulated depreciation 130,000
Net plant and equipment 600,000
Total assets _______
The Dayco Manufacturing Company had the following financial statement results for last year. Net sales were $1.2 million with net income $90,000. Total assets at year end amounted to $900,000
a. Calculate Dayco’s assets turnover ratio and its profit margin.
b. Show how the two ratios in Part (a) can be used to determine Dayco’s rate of return on assets.
c. Dayco operates industry average ratios are these: returns on assets 11 percent; asset turnover: 2.5 percent times; Net profit margin 3.6 percent. Compare Dayco’s performance against industry averages.
Following are selected financial data in thousands of dollars for the Hunter Corporation.
Current assets $500 $ 400
Fixed assets, net 700 600
Total asset 1,200 1,000
Current liabilities 300 200
Long-term debt 200 200
Common equity 700 600
Total liabilities and equity 1,200 1,000
Net sales 1,500 1,200
Total expenses -1,390 -1,100
Net income 110 100
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