Excel's Companies, a home improvement store chain, reported the following summarized figures:E (Click the icon to view the income statement.)Excel's has 100,000 common shares outstanding during 2018.E (Click the icon to view the balance sheets.)Read the requrementsRequirement 1. Compute the inventory turnover, days' sales in inventory, and gross profit percentage for Excel's Companies for 2018.Compute the inventory turnover. (Round your answer to two decimal places, X.XX.)The inventory tumovertimes.i Income Statementi Balance SheetsExcel's CompaniesExcel's CompaniesBalance SheetIncome StatementMay 31, 2018 and 2017Years Ended May 31, 2018 and 201720182017AssetsLiabilities2018201720182017Net Sales Revenue51.200 S39, B00Cost of Goods Sold22,50023 700Cash2,000 $1 800 Total Current Liabilities25,000 $13,30014,10010,200500280Short-tem Investments26,00010,000 Long-tem LiabilitiesInterest Expense6,2007,100Accounts Receivable7,3005,500 Total Liabilities39,10023,500All Other Expenses2422,000 $8,720Merchandise Inventory6,8007.500Stockholders' EquityNet IncomeOther Current Assets11,0002.400 Common Stock11,00011,00036,00015,70027,200 Retained Eamings23 000 Total EquityTotal Current Assets53,100PrintDone33,00047,00026,700All Other Assets86,100 $86,100 S50,20024Total Liabilities and Equity50,200Total AssetsPrintDoneChoose from any list or enter any number in the input fields and then click Che

Name: Excel's Companies, a home improvement store chain, reported the follo
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Description: Excel's Companies, a home improvement store chain, reported the following summarized figures:E (Click the icon to view the income statement.)Excel's has 100,000 common shares outstanding during 2018.E (Click the icon to view the balance sheets.)Read

Inventory turnover ratio: This is a financial measure that is used to evaluate as to how many times…

Business

Accounting

Requirement 1. Compute the inventory turnover, days' sales in inventory, and gross profit percentage for Excels Companies for 2018. Compute the inventory turnover. (Round your answer to two decimal places, XXX) The inventory tumover %3D times

Requirement 1. Compute the inventory turnover, days' sales in inventory, and gross profit percentage for Excels Companies for 2018. Compute the inventory turnover. (Round your answer to two decimal places, XXX) The inventory tumover %3D times

Managerial Accounting: The Cornerstone of Business Decision-Making

7th Edition

ISBN:9781337115773

Author:Maryanne M. Mowen, Don R. Hansen, Dan L. Heitger

Publisher:Maryanne M. Mowen, Don R. Hansen, Dan L. Heitger

Chapter15: Financial Statement Analysis

Section: Chapter Questions

Problem 50E: Juroe Company provided the following income statement for last year: Juroes balance sheet as of...

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Win's Companies, a home improvement store chain, reported the following summanzed figures E (Click the icon to view the income statement.) E (Click the icon to view the balance sheets.) Win's has 20,000 common shares outstanding during 2018. Read the requirements Requirement 1. Compute Win's Companies' current ratio at May 31, 2018 and 2017 Begin by selecting the formula to calculate Win's Companies' current ratio. Then enter the amounts and calcu ale the current ratio for 2018 and then 2017. (Round your answers to two decimal places, X.XX.) Current ratio (i Balance Sheets Income Statement Win's Companies Win's Companies Balance Sheet Income Statement May 31, 2018 and 2017 Years Ended May 31, 2018 and 2017 Assets Liabilities 2018 2017 2018 2017 2018 2017 Net Sales Revenue 24 57 200 $ 39,800 Cash $. 2.300 $ 1300 Total Current Liabilities 22,000 $ 12,900 Cost of Goods Sold 22.500 25,500 12,200 11,300 Short-term Invesiments 29 000 13.000 Long-term Liabilities Interest Expense 500 320…
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The comparative financial statements of Bettancort Inc. are as follows. The market price of Bettancort Inc. common stock was $71.25 on December 31, 2014. InstructionsDetermine the following measures for 2014, rounding to one decimal place:1. a.Working capital b. Current ratio c. Quick ratiod. Accounts receivable turnovere. Number of days' sales in receivablesf. Inventory turnoverg. Number of days' sales in inventoryh. Ratio of fixed assets to long-term liabilitiesi. Ratio of liabilities to stockholdersâ€™ equityj. Number of times interest charges are earnedk. Number of times preferred dividends are earned2. a. Ratio of net sales to assetsb. Rate earned on total assetsc. Rate earned on stockholders' equityd. Rate earned on common stockholders' equitye. Earnings per share on common stockf. Price-earnings ratiog. Dividends per share of common stockh. Dividend yield