The following table shows the sales and average book value of fixed assets for three dif- ferent companies from three different industries for a recent year: Average Book Value of Fixed Assets (in millions) Sales (in millions) Company (Industry) $ 26,450 $ 74,989 Alphabet (Google) Inc. (Internet) Comcast Corporation (communications) Wal-Mart Stores, Inc. (retail) 74,510 32,309 485,651 117,281 a. For each company, determine the fixed asset turnover ratio. Round to one decimal place. Explain Comcast's fixed asset turnover ratio relative to the other two companies. b.
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- The following are the Statements of Financial Position of Yomi Limited for the years ended December 31, 2015 and 2016. Non-current assets 2016 GH¢ 2015 GH¢ Land 560,000 300,000 Building & equipment 2,000,000 1,900,000 2,560,000 2,200,000 Accumulated depreciation (800,000) (770,000) 1,760,000 1,430,000 Long term investments 50,000 25,000 Total Non-current assets 1,810,000 1,455,000 Current assets Inventory 300,000 320,000 Trade receivables 410,000 460,000 Cash & cash equivalents 30,000 50,000 Prepaid 20,000 15,000 Total current assets 760,000 845,000 Total assets 2,570,000 2,300,000 Equity & Non-current liabilities Equity share capital (GH¢2 par value) 200,000 160,000 Share premium 710,000 550,000 Retained earnings 670,000 620,000 Bonds 500,000 800,000 Long term loan notes 150,000 - Total…The following data are taken from the income statement and balance sheet of Freeman Machinery, Inc. Dec. 31, 2018 Jan. 1, 2018 Income statement: Net Income $385,000 Depreciation Expense 135,000 Amortization of Intangible Assets 40,000 Gain on Sale of Plant Assets 90,000 Loss on Sale of Investments 35,000 Balance sheet: Accounts Receivable $335,000 $380,000 Inventory 503,000 575,000 Prepaid Expenses 22,000 13,000 Accounts Payable (to merchandise suppliers) 379,000 410,000 Accrued Expenses Payable 180,000 155,000 page 603 Using this information, prepare a partial statement of cash flows for the year ended December 31, 2018, showing the computation of net cash flows from operating activities by the indirect method.ASAP!! The following income statement and selected balance sheet account data are available for Satelllite Transmissions, Inc,. at December 31: SATELLITE TRANSMISSIONS, INC Income Statement For the Year Ended December 31,2012 Net Income 205,000 Gain on sales of marketable securities 4000 Depreciation expense 26000 Loss on sale of plant assets 12500 Gain on sale of securities 6500 Selected account balances: End of Year Beg.…
- In a recent balance sheet, Microsoft Corporation reported Property, Plant, and Equipment of $27,804 million and Accumulated Depreciation of $14,793 million.a. What was the book value of the fixed assets?b. Would the book value of Microsoft’s fixed assets normally approximate their market values?In its 2017 annual report, Campbell Soup Company reports beginning-of-the-year total assets of $7,837 million, end-of-the-year total assets of $7,726 million, total sales of $7,890 million, and net income of $887 million. Compute Campbell’s asset turnover. (Round answer to 4 decimal places, e.g. 4.8726.) Asset turnover enter asset turnover in times rounded to 4 decimal places times LINK TO TEXT Compute Campbell’s profit margin on sales. (Round answer to 2 decimal places, e.g. 4.87%.) Profit margin on sales enter profit margin on sales in percentages rounded to 4 decimal places % LINK TO TEXT Compute Campbell’s return on assets using (1) asset turnover and profit margin and (2) net income. (Round answers to 2 decimal places, e.g. 4.87%.) Return on assets (1) Asset…The Income Statement and additional data of Crawford Properties, Inc., follows:CRAWFORD PROPERTIES Inc.Income StatementFor Year Ended June 30, 20X6Revenues:Sales revenue $237,000Expenses:Cost of goods sold $103,000Salary expense 58,000Depreciation expense 29,000Income taxes expense 9,000 199,000Net Income $38,000Additional data:a) Acquisition of plant assets is $116,000. Of this amount $101,000 is paid in cash and$15,000 by signing a note payable.b) Proceeds from sale of land total $24,000c) Proceeds from issuance of common stock total $30,000d) Payment of long-term note payable is $15,000e) Payment of dividends is $11,000f) From the balance sheet30/6/X 6 30/6/X 5Current Assets:Cash & cash equivalents $27,000 $20,000Accounts receivable 43,000 58,000Inventories 92,000 85,000Current Liabilities:Accounts payable $35,000 $22,000Accrued liabilities 13,000 21,000Required:Prepare Crawford Properties, Inc.’s statement of cash flows for the year endedJune 30, 20X6, using the indirect…
- The following information is provided for Sunland Company and Culver Corporation. (in $ millions) Sunland Company Culver Corporation Net income 2022 $155 $405 Net sales 2022 1595 4530 Total assets 12/31/20 1040 2130 Total assets 12/31/21 1260 3020 Total assets 12/31/22 1165 4100 What is Sunland's asset turnover for 2022? (Round answer to 2 decimal places, e.g. 15.20.) 0.68 times 1.32 times 0.25 times 3.94 timesKerch Co. had beginning net fixed assets of $216,558, ending net fixed assets of $211,722, and depreciation of $40,471. During the year, the company sold fixed assets with a book value of $8,038. How much did the company purchase in new fixed assets? Multiple Choice $43,673 $41,510 $35,635 $32,433 $34,327Sherwood, Inc., the parent company of Frito-Lay snack foods and Sherwood beverages, had the following current assets and current liabilities at the end of two recent years: Line Item Description Current Year(in millions) Previous Year(in millions) Cash and cash equivalents $4,611 $4,986 Short-term investments, at cost 3,275 9,259 Accounts and notes receivable, net 10,411 9,497 Inventories 1,445 963 Prepaid expenses and other current assets 481 356 Short-term obligations 385 4,089 Accounts payable 9,245 9,101 a. Determine the (1) current ratio and (2) quick ratio for both years. Round your answers to one decimal place. Line Item Description Current Year Previous Year 1. Current ratio ? ? 2. Quick ratio ? ? slightly over this time period. Both the current and quick ratios have fill in the blank 2 of 4 . Sherwood is a fill in the blank 3 of 4 company with fill in the blank 4 of 4 resources…