XYZ provided the following financial information:XYZBalance SheetAs of 12/31/19Assets: Liabilities and Equity: Cash and marketable securities $27,476 Accounts payable and accruals $154,860 Accounts receivable $143,519 Short-term notes payable $21,255 Inventory $212,379 Total current liabilities $176,115 Total current assets $383,374 Long term debt $155,510 Net plant and equipment $602,704 Total liabilities $331,625 Goodwill and other assets $42,422 Common stock $312,719 Retained earnings $384,156 Total assets $1,028,500 Total liabilities and equity $1,028,500 In addition, it was reported that the firm had a net income of: $158,402and net sales of: $4,272,431Calculate the following ratios for this firm (Use 365 days for calculation. Round answers to 2 decimal places, e.g. 52.75.):Current Ratio ?timesQuick Ratio ?timesAverage Collection Period ?daysTotal Asset Turnover ?timesFixed Asset Turnover ?times

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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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XYZ provided the following financial information:

XYZ Balance Sheet As of 12/31/19
Assets:		Liabilities and Equity:
Cash and marketable securities	$27,476	Accounts payable and accruals	$154,860
Accounts receivable	$143,519	Short-term notes payable	$21,255
Inventory	$212,379	Total current liabilities	$176,115
Total current assets	$383,374	Long term debt	$155,510
Net plant and equipment	$602,704	Total liabilities	$331,625
Goodwill and other assets	$42,422	Common stock	$312,719
		Retained earnings	$384,156
Total assets	$1,028,500	Total liabilities and equity	$1,028,500

In addition, it was reported that the firm had a net income of:		$158,402
and net sales of:		$4,272,431

Calculate the following ratios for this firm (Use 365 days for calculation. Round answers to 2 decimal places, e.g. 52.75.):

Current Ratio	?	times
Quick Ratio	?	times
Average Collection Period	?	days
Total Asset Turnover	?	times
Fixed Asset Turnover	?	times

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