Plz help, 2 different problems muchdays?Problem 5The Robinson Hotel has the following ratios:Return on equity:10 percentTotal asset turnover:1.5 timesReturn on sales:5 percentThe total assets of the Robinson Hotel equal $5,000,000. Assume the balance sheet numbersat the beginning and end of the year are the same.Required:1. Determine the firm's total annual sales.Determine the firm's net income.lim2g2.3. Determine the amount of the firm's total debt. McDaniel's Place has selected financial ratios for 20X1–20X3 as follows:Problem 220X120X220X3Current ratio1.11.15dmun araAccounts receivable turnover1.2131211Inventory turnover242322Asset turnover1.31.41.5Debt-equity ratioTimes interest earned1.51.41.33.83.94.0Sales for the three years were $1 million, $1.2 million, and $1.4 million, respectively.Required:1. Assume total assets did not change during 20X3. Determine the total debt at the end of20X3.2. If cost of sales were 10 percent of total sales, what was the average inventory for 20X3?3. Comment on the changing liquidity of McDaniel's Place over the three-year period.4. Comment on the changing solvency of this business over the three-year period.Ilom 3

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Answered: 10 percent 1.5 times ver: 5 percent the…

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

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10 percent 1.5 times ver: 5 percent the Robinson Hotel equal $5,000,000. Assume the balance sheet and end of the year are the same.