Photo Pro Photo reported the following figures on its December 31, 2024, income statement and balance sheet: LOADING... (Click the icon to view the figures.) Compute the asset turnover ratio for 2024. Round to two decimal places. Net sales $545,000 Dec. 31, 2024 Dec. 31, 2023 Cash $22,000 $28,000 Accounts Receivable 57,000 56,000 Merchandise Inventory 76,000 75,000 Prepaid Expenses 6,000 11,000 Property, Plant, and Equipment, net 180,000 20,000

Photo Pro Photo reported the following figures on its December 31, 2024, income statement and balance sheet: LOADING... (Click the icon to view the figures.) Compute the asset turnover ratio for 2024. Round to two decimal places. Net sales $545,000 Dec. 31, 2024 Dec. 31, 2023 Cash $22,000 $28,000 Accounts Receivable 57,000 56,000 Merchandise Inventory 76,000 75,000 Prepaid Expenses 6,000 11,000 Property, Plant, and Equipment, net 180,000 20,000

Cornerstones of Financial Accounting

4th Edition

ISBN:9781337690881

Author:Jay Rich, Jeff Jones

Publisher:Jay Rich, Jeff Jones

Chapter12: Fainancial Statement Analysis

Section: Chapter Questions

Problem 63BE: Asset Efficiency Ratios Rumsford Inc.s financial statements for 2019 indicate the following account...

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Net sales	$545,000
	Dec. 31, 2024	Dec. 31, 2023
Cash	$22,000	$28,000
Accounts Receivable	57,000	56,000
Merchandise Inventory	76,000	75,000
Prepaid Expenses	6,000	11,000
Property, Plant, and Equipment, net	180,000	20,000

Similar questions

Asset Efficiency Ratios Rumsford Inc.s financial statements for 2019 indicate the following account balances: Required: 1. Using this information, calculate Rumsfords receivable turnover ratio. (Note: Round to two decimal places.) 2. Using this information, calculate Rumsfords asset turnover ratio and also convert the ratio into days.
Asset Efficiency Ratios Sammy Inc.'s financial statements for 2023 indicate the following account balances: Net sales Cost of goods sold Average accounts receivable Average inventory Average property, plant, and equipment Average total assets. Required: Round your answers to two decimal places. 1. Using this information, calculate Sammy's receivable turnover ratio. $307,608 170,100 21,329 3,960 85,367 144,140 2. Using this information, calculate Sammy's asset turnover ratio and also convert the ratio into days. Assume 365 days in a year. Round your answer to nearest whole day. Asset turnover ratio Conversion into days days
The 2025 Annual Report of Marigold International contains the following information: (in millions) Total assets Total liabilities Net sales Net income (b) June 29, 2025 (c) $1.552 1.091 2,733 150 June 27, 2024 $1.376 1.147 2.845 Compute the following ratios for Marigold International for 2025: 136 Asset turnover ratio. (Round answer to 3 decimal places, e.g. 0.851 times.) Rate of return on assets. (Round answer to 2 decimal places, e.g. 4.87.) Profit margin on sales. (Round answer to 2 decimal places, e.g. 4.87.)
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