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13. Selected information from the comparative fin...

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Solution


Question

13. Selected information from the comparative financial statements of Aviles Company for the year ended December 31 appears below: 2011 2010 Accounts receivable (net) $ 175,000 $200,000 Inventory 130,000 150,000 Total assets 1,100,000 800,000 Current liabilities 140,000 110,000 Long-term debt 410,000 300,000 Net credit sales 800,000 700,000 Cost of goods sold 600,000 530,000 Interest expense 40,000 25,000 Income tax expense 60,000 29,000 Net income 150,000 85,000 Net cash provided by operating activities 220,000 135,000 Instructions: Answer the following questions relating to the year ended June 30, 2011. Show computations. (each answer worth 2 point). The inventory turnover ratio for 2011 is __________. The number of times interest earned ratio in 2011 is __________. The receivables turnover ratio for 2011 is __________. The return on assets ratio for 2011 is __________. The current cash debt coverage ratio for 2011 is __________.

 

Paper#4318 | Written in 18-Jul-2015

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