culationsSelect the images below to enlarge.Balance SheetMurawski CompanyBalance SheetDecember 31Current AssetsInvestmentsCash and cash equivalentsAccounts receivable (net)Property, plant, and equipmentIntangibles and other assetsTotal assetsCurrent liabilitiesInventoryPrepaid expensesTotal current assetsSales RevenueMurawski CompanyIncome StatementFor the Years Ended December 31Costs and expensesCost of goods soldSelling and Administrative expensesInterest expenseTotal costs and expenses2022Income StatementIncome before income taxes$3304704601201,380Income tax expenseNet Income10420530$2,340Long-term liabilitiesStockholder's equity - common1,0301,040Total liabilities and stockholder's equity $2,340 $2,210$9004102022$3,8009552,400253,3802021420126$294$3604003901601,31010380510$2,210$7903802021$3,4608902,330203,24022066$154Calculate the 2022 Inventory Turnover ratio.Use whole numbers rounded to 2 decimalplaces, if needed, as seen in the examplebelow.1500Example800Inventory Turnover Ratio 2022÷1.88Click the check mark to check your answers.Fields with incorrect responses will beremoved so you can try again.

The ratio analysis helps to analyse the financial statements of the business with various elements…

Select the images below to enlarge. Balance Sheet Murawski Company Balance Sheet December 31 Current Assets Investments Cash and cash equivalents Accounts receivable (net) Property, plant, and equipment Intangibles and other assets Total assets Current liabilities Inventory Prepaid expenses Total current assets Sales Revenue Murawski Company Income Statement For the Years Ended December 31 $900 Long-term liabilities 410 Stockholder's equity-common 1,030 1,040 Total liabilities and stockholder's equity $2,340 $2,210 Costs and expenses Cost of goods sold Selling and Administrative expenses Interest expense Total costs and expenses 2022 Income Statement Income before income taxes Income tax expense Net Income $330 $360 470 400 460 390 120 160 1,380 1,310 10 420 530 $2.340 2022 $3,800 955 2,400 2021 25 3,380 420 126 $294 10 380 510 $2.210 $790 380 2021 $3,460 890 2,330 20 3,240 220 66 $154 Calculate the 2022 Inventory Turnover ratio. Use whole numbers rounded to 2 decimal places, if needed, as seen in the example below. 1500 ÷ Example 800 Inventory Turnover Ratio 2022 ÷ 1.88 Click the check mark to check your answers. Fields with incorrect responses will be removed so you can try again.

Select the images below to enlarge. Balance Sheet Murawski Company Balance Sheet December 31 Current Assets Investments Cash and cash equivalents Accounts receivable (net) Property, plant, and equipment Intangibles and other assets Total assets Current liabilities Inventory Prepaid expenses Total current assets Sales Revenue Murawski Company Income Statement For the Years Ended December 31 $900 Long-term liabilities 410 Stockholder's equity-common 1,030 1,040 Total liabilities and stockholder's equity $2,340 $2,210 Costs and expenses Cost of goods sold Selling and Administrative expenses Interest expense Total costs and expenses 2022 Income Statement Income before income taxes Income tax expense Net Income $330 $360 470 400 460 390 120 160 1,380 1,310 10 420 530 $2.340 2022 $3,800 955 2,400 2021 25 3,380 420 126 $294 10 380 510 $2.210 $790 380 2021 $3,460 890 2,330 20 3,240 220 66 $154 Calculate the 2022 Inventory Turnover ratio. Use whole numbers rounded to 2 decimal places, if needed, as seen in the example below. 1500 ÷ Example 800 Inventory Turnover Ratio 2022 ÷ 1.88 Click the check mark to check your answers. Fields with incorrect responses will be removed so you can try again.

College Accounting, Chapters 1-27

23rd Edition

ISBN:9781337794756

Author:HEINTZ, James A.

Publisher:HEINTZ, James A.

Chapter23: Statement Of Cash Flows

Section: Chapter Questions

Problem 11SPB: COMPUTE CASH PROVIDED BY OPERATING ACTIVITIES Powell Companys condensed income statement for the...

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