What's the total asset turnover ratio of this company? Assets: Cash and marketable securities Accounts receivable Inventories Prepaid expenses Total current assets Fixed assets Less: accum. depr. Net fixed assets Total assets Liabilities: Accounts payable Notes payable Accrued taxes Total current liabilities Long-term debt Owner's equity (1 million shares of common stock outstanding) Total liabilities and owner's equity Net sales (all credit) Less: Cost of goods sold Selling and administrative expense Depreciation expense Interest expense Earnings before taxes Income taxes Net income 1.41 2.33 04.45 01.11 8,000,000 (2,075,000) $600,000 900,000 1,500,000 75,000 $3,075,000 $5.925,000 $9,000,000 $800,000 700,000 50,000 $1,550,000 2,500,000 4,950,000 $9,000,000 $10,000,000 (3,000,000) (2,000,000) (250,000) (200,000) 4,550,000 (1,820,000) $2,730,000
What's the total asset turnover ratio of this company? Assets: Cash and marketable securities Accounts receivable Inventories Prepaid expenses Total current assets Fixed assets Less: accum. depr. Net fixed assets Total assets Liabilities: Accounts payable Notes payable Accrued taxes Total current liabilities Long-term debt Owner's equity (1 million shares of common stock outstanding) Total liabilities and owner's equity Net sales (all credit) Less: Cost of goods sold Selling and administrative expense Depreciation expense Interest expense Earnings before taxes Income taxes Net income 1.41 2.33 04.45 01.11 8,000,000 (2,075,000) $600,000 900,000 1,500,000 75,000 $3,075,000 $5.925,000 $9,000,000 $800,000 700,000 50,000 $1,550,000 2,500,000 4,950,000 $9,000,000 $10,000,000 (3,000,000) (2,000,000) (250,000) (200,000) 4,550,000 (1,820,000) $2,730,000
Chapter14: Corporation Accounting
Section: Chapter Questions
Problem 19MC: Owners equity represents which of the following? A. the amount of funding the company has from...
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