Company Ajax has the following information from its financial statements in 2021. The annual sales revenue was $271 million and we assume that the company operated for 365 days last year. The accounts receivable (AR) amounted to $31.8 million and the accounts payable (AP) to $33.2 million. Further from the balance sheet, the inventory is valued at $12.6 million. The cost of sales (COGS/Revenue) is 50%. of accounts receivable is Part 2: The Part 3: T Part 4: The cash-to-cash cycle time is [Select]
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- You have performed preliminary analytical procedureson one of your audit engagements and observed the following independent situations:1. The allowance for obsolete inventory increased from the prior year, but the allowance as a percentage of inventory decreased from the prior year.2. Long-term debt increased from the prior year, but total interest expense decreasedas a percentage of long-term debt.3. The dollar amount of operating income is consistent with the prior year althoughthe entity was more profitable on a net income basis.4. The quick ratio decreased from the prior year, although the amount of cash and netaccounts receivable is almost the same as the prior year.Below are possible explanations for each of the observed changes in the financial statementamounts and ratios. For each observed change, select the most likely explanation(s)from the list below. Note: There may be more than one explanation for a given observedchange, and an explanation can be used more than once.a.…The following data were taken from the financial statements of Loveseth Inc. for the current fiscal year. Property, plant, and equipment (net) $1,826,200 Liabilities: Current liabilities $160,000 Note payable, 6%, due in 15 years 794,000 Total liabilities $954,000 Stockholders' equity: Preferred $2 stock, $100 par (no change during year) $715,500 Common stock, $10 par (no change during year) 715,500 Retained earnings: Balance, beginning of year $764,000 Net income 359,000 $1,123,000 Preferred dividends $14,310 Common dividends 154,690 169,000 Balance, end of year 954,000 Total stockholders' equity $2,385,000 Sales $16,603,050 Interest expense $47,640 Assuming that total assets were $3,172,000 at the beginning of the current fiscal year, determine the following: When required, round to one decimal place. a. Ratio of fixed assets to long-term liabilities b. Ratio of liabilities to stockholders' equity c. Asset turnover d. Return on total assets e. Return on stockholders' equity % f.…Use the following financial statements of Heifer Sports Inc. in Table 14.14 to find Heifer’s:a) Inventory turnover ratio in 2012.b) Debt/equity ratio in 2012.c) Cash flow from operating activities in 2012.d) Average collection period.e) Fixed-asset turnover ratio.f) Return on equity.
- Petal Providers Corporation, described in Problem 1, is interested in estimating its additional financing needs to support a rapid increase in sales next year. Last year revenues were $1 million, the net profit was $50,000, the investment in assets was $750,000, payables and accruals were $100,000, and equity at the end of the year was $450,000. The venture did not pay out any dividends and does not expect to pay dividends for the foreseeable future. A. What would be your estimate of the additional funds needed next year to support a 30 percent increase in sales? B. How would your answer in Part A change if the expected sales growth were only 15 percent?Webber Limited plans to maintain cash balance of $8000. The variance of its daily cash flow to date is $4,000,000. The cost to buy or sell the firm’s security is approximately $50. The daily interest is 0.025%. Calculate: The lower limit The spread The upper limit The return pointSage Hill Inc. had the following balance sheet at December 31, 2016. SAGE HILL INC.BALANCE SHEETDECEMBER 31, 2016 Cash $ 9,600 Accounts payable $ 14,500 Accounts receivable 14,000 Bonds payable 8,800 Investments 15,500 Common stock 36,900 Plant assets (net) 35,500 Retained earnings 32,300 Land 17,900 $ 92,500 $ 92,500 During 2017, the following occurred. 1. Net income was $ 23,700. 2. Depreciation expense was $ 8,100. 3. Sage Hill liquidated its investment portfolio (comprised of available-for-sale investments), realizing a $ 3,200 loss. 4. Sage Hill issued $ 20,800 of common stock at par. 5. Dividends of $ 8,200 were declared and paid to stockholders. 6. Accounts receivable and accounts payable at December 31, 2017 were $ 15,800 and $ 13,900, respectively. 7. Sage Hill obtained $ 8,200in plant assets in exchange for issuing bonds. 8. Sage Hill purchased additional plant assets for $…
- The profit margin of Nickelly Corporation was 17.3% in 2020 and 15.2% in 2021. Discuss what the profit margin measures and what changes, if any, you would recommend for the financial direction of the organizationro forma income statement. Given the income statement , for California Cement Company for 2013 and an expected sales growth rate of 6.67% for 2014, prepare a pro forma income statement for 2014. First, find the percentage of each income statement line from 2013 as a percent of sales. (Round to three decimal places.) California Cement Company Income Statement for 2013 Sales revenue $ 22,869,000 Cost of goods sold $ -11,637,000 Selling, general, and administrative expenses $ -3,993,000 Depreciation expenses $ -1,331,000 EBIT $ 5,908,000 Interest expense $ -175,000 Taxable income $ 5,733,000 Taxes $ -2,512,462 Net income $ 3,220,538 What is the sales forecast for 2014? (Round to the nearest dollar.) The pro forma income statement for 2014 is: (Round to the nearest dollar.) California Cement Company Pro Forma Income Statement for 2014 Sales revenue $ ? 100.00% Cost of goods sold $ ? 50.885 %…Last year, Archer electronics reported revenues of $34 million while itsntotal expenses were $10 million. Based on this information, Archer reported A) profits of $24 million B)profits of 34 million C) losses of $24 million D)losses of $34million
- in what ways does the Rapanui division advantage or disadvantage Teemill’s revenue model and what particular aspect(s) of the Teemill business model canvas would be affected if Rapanui was to closed down?an Shields Communications, Inc., a cellular communications provider based in Michigan, charges $86 per month for an all you can talk service plan. The company plans to increase marketing expenditure next year, but wants to determine the current CLV before making this decision. Variable costs before marketing are $28 per account per month and monthly retention expenditures are $12 per account. Ian Shields Communication's annual attrition rate is 17%, with an annual discount rate of 15%.Mavis and John have joined forces to start M&J Food Products, a processor of packaged shredded lettuce for institutional use. John has years of food processing experience, and Mavis has extensive commercial food preparation experience. The process will consist of opening crates of lettuce and then sorting, washing, slicing, preserving, and finally packaging the prepared lettuce. Together, with help from vendors, they think they can adequately estimate demand, fixed costs, revenues, and variable cost per 5-pound bag of lettuce. They think a largely manual process will have monthly fixed cost of $50,000and a variable cost of $2.50 per bag. They expect to sell 75,000 bags of lettuce per month. They expect to sell the shredded lettuce for $3.25 per 5-pound bag. John and Mavis has been contacted by a vendor to consider a more mechanized process. This new process will have monthly fixed cost of $125,000 per month with a variable cost of $1.75 per bag. Based on the above scenario: Should…