Carla Vista Corporation's comparative balance sheet is presented below. Cash Accounts receivable Inventory Land Buildings Accumulated depreciation-buildings Total Accounts payable Common shares Retained earnings Total CARLA VISTA CORPORATION Balance Sheet December 31 a. b. C. d. Current ratio Acid-test ratio Receivables turnover 2024 Collection period $5,100 13,000 9,500 19,000 90,000 (14,000) $11,660 75,000 35,940 $122,600 2023 $3,200 2024 23,700 $122,600 $140,400 7,500 Carla Vista's 2024 income statement included net sales of $110,000, cost of goods sold of $60,000, and profit of $17,000. Calculate the following ratios for 2024. (Round Collection period and Days sales in inventory to 0 decimal places e.g. 52 and all other answ o 1 decimal place, e.g. 52.7 or 52.7%. Use 365 days for calculation.) 25,000 90,000 (9,000) $32,600 69,000 38,800 $140,400 times days
Carla Vista Corporation's comparative balance sheet is presented below. Cash Accounts receivable Inventory Land Buildings Accumulated depreciation-buildings Total Accounts payable Common shares Retained earnings Total CARLA VISTA CORPORATION Balance Sheet December 31 a. b. C. d. Current ratio Acid-test ratio Receivables turnover 2024 Collection period $5,100 13,000 9,500 19,000 90,000 (14,000) $11,660 75,000 35,940 $122,600 2023 $3,200 2024 23,700 $122,600 $140,400 7,500 Carla Vista's 2024 income statement included net sales of $110,000, cost of goods sold of $60,000, and profit of $17,000. Calculate the following ratios for 2024. (Round Collection period and Days sales in inventory to 0 decimal places e.g. 52 and all other answ o 1 decimal place, e.g. 52.7 or 52.7%. Use 365 days for calculation.) 25,000 90,000 (9,000) $32,600 69,000 38,800 $140,400 times days
Managerial Accounting
15th Edition
ISBN:9781337912020
Author:Carl Warren, Ph.d. Cma William B. Tayler
Publisher:Carl Warren, Ph.d. Cma William B. Tayler
Chapter16: Financial Statement Analysis
Section: Chapter Questions
Problem 4PB
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