Following is some financial information of 250R Corp:250 CORPStatement of IncomeFor the years ended December 31, 2020 and 2021Year Ended 31.12.2021Sales RevenuesCost of Goods SoldGross MarginSalaries expenseDepreciation expenseInterest expenseNet incomeLong-term borrowingsAccounts receivableProperty, plant & equipment (PPE):CostAccumulated Depreciation$750,000(300,000)$450,000(75,000)(70,000)(30,000)$275,000Some Selected Balance Sheet DataAs at 31.12.2021$300.000$525,000$350,000210,000Year Ended 31.12.2020$500,000(200,000)$300,000(50,000)(70,000)(30,000)$150,000As at 31.12.2020$300.000$250.000$350,000140,000 A. Prepare a common-size income statement. In the case of decimals, round to the nearest 1st digit after the decimal point.B. Compute the Accounts receivable turnover rate for 2021:C. Compute the Accounts receivable turnover rate for 2020. Assume that accounts receivable as at 31.12.2019 are equal to $100,000.D. Compute the sales growth rate (year-to-year change)E. Compute the accounts receivable growth rate (year-to-year change)F. Compute the interest rate for 2021G. Compute the interest rate for 2020H. Compute the straight line depreciation rate for 20211. Compute the straight line depreciation rate for 2020J. Based on your above analysis (answers to the above questions), comment briefly on 250R Corp's performance. [HINT: discuss the changes (or lack of changes) thatmake sense and those that do not make sense. What is the possible overarching explanation for those that do not make sense. Explain your reasoning].

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Following is some financial information of 250R Corp: 250 CORP Statement of Income For the years ended December 31, 2020 and 2021 Year Ended 31.12.2021 Sales Revenues Cost of Goods Sold Gross Margin Salaries expense Depreciation expense Interest expense Net income Long-term borrowings Accounts receivable Property, plant & equipment (PPE): Cost Accumulated Depreciation $750,000 (300,000) $450,000 (75,000) (70,000) (30,000) $275,000 Some Selected Balance Sheet Data As at 31.12.2021 $300,000 $525.000 $350,000 210,000 Year Ended 31.12.2020 $500,000 (200,000) $300,000 (50,000) (70,000) (30,000) $150,000 As at 31.12.2020 $300,000 $250,000 $350,000 140,000

Following is some financial information of 250R Corp: 250 CORP Statement of Income For the years ended December 31, 2020 and 2021 Year Ended 31.12.2021 Sales Revenues Cost of Goods Sold Gross Margin Salaries expense Depreciation expense Interest expense Net income Long-term borrowings Accounts receivable Property, plant & equipment (PPE): Cost Accumulated Depreciation $750,000 (300,000) $450,000 (75,000) (70,000) (30,000) $275,000 Some Selected Balance Sheet Data As at 31.12.2021 $300,000 $525.000 $350,000 210,000 Year Ended 31.12.2020 $500,000 (200,000) $300,000 (50,000) (70,000) (30,000) $150,000 As at 31.12.2020 $300,000 $250,000 $350,000 140,000

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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