Question

The 20X9 condensed SCI and the 20X9 and 20X8 condensed SFP for Georgian Ltd. are shown below. All sales are on credit. The company's income tax rate is 18%. Condensed Statement of Comprehensive Income Sales revenue(al on creat) Cost of goods sold $ 42.100 23,100 Gross proft Operating expese 12,700 Operating income Interest expense 2,100 Income before income taxes Income tax expense 4,200 1,700 Net income and comprehensive income s 2,500 Condensed Statement of Financial Position 20x9 200x8 6000 8100 14.200 15.200 8.400 6.700 0700 38.500 18.600) 23,000) 35,700 31,100 Accounts receivable (net) Part and equipment ccumuliated depreciaton Land Total Accounts payable Common shares 86,400 76,600 6.500 6,700 4300 0.700 20600 15,700 5000 43,500 Retained eanings 86400 76,600 Required: Compute the following ratios for 20X9: (Use 365 days in a year. Do not round your intermediate calculations. Round your final percentage answers to one decimal place i.e. 0.123 should be considered as 12.3%. Round Accounts receivables to 2 decimals places and other answers to one decimal place.) Retum on assees aer taxes b. Times Interest Eamed c. Gross Profit Margi equity e. Days in Inventory

Answer 1

nswer Com but ation of the tollowing Yatios千or 2。x4 (a) Return on Assets after= Ne-ncome Taxes Average Total A ssers Average Total Assets-$ [34“叶8640 Retu n on Assets after = o( 2500 x1oo Aveyage Total Assets = $81500 2, taxes 81 500 Retur n on Assets after n 31, taxes 야 e74tRd Income団Ea -$ 6300 teydet and taxes nteyelt Expense = $2100 2100 C)Gross brofit margin Gnross brotit Sales Revenue 100 Sqtes Revenue-$ 100 Cnress profit mar in0000 x loo 니2100

"Days .nTmven toy = 119 days (F) Accout Recetvabte Tunever vee creft sales Average Aceount Net Credit Sales = u2loo Average Accounts Receivable=L15 200+14200 Accounts Rece?vable-F1470。 verage AccountTeceR,able m over =( 42100 L 14700 ACCount receivable Turnover= 2, 86thnes