Question
In: Accounting
The following selected information is available for Old Navy, a unisex apparel company, for three fiscal...
The following selected information is available for Old
Navy, a unisex apparel company, for three fiscal years (in
$ millions):
| 2018 | 2017 | 2016 | |||||
| Current assets | $1,349.3 | $1,207.0 | $986.9 | ||||
| Current liabilities | 512.2 | 519.8 | 502.3 | ||||
| Sales | 5,044.4 | 4,563.3 | 4,234.9 | ||||
| Cost of goods sold | 3,244.5 | 2,959.9 | 2,947.2 | ||||
| Net income | 439.0 | 393.6 | 203.9 |
(a)
Calculate the current ratio, gross profit margin, and profit margin
for each year. (Round answers to 1 decimal place, e.g.
1.5.)
| 2018 | 2017 | 2016 | |||||
| Current ratio | : 1 | : 1 | : 1 | ||||
| Gross profit margin | % | % | % | ||||
| Profit margin | % | % | % |
Solutions
ekkarill92 answered 1 year agoRelated Solutions
Annapolis Company manufactures quality boating apparel. The following selected financial information for the fiscal year 2018...
Annapolis Company manufactures quality boating apparel. The
following selected financial information for the fiscal year 2018
is provided:
Item Amount
Sales $850,000
Beginning Raw Material Inventory 74,000
Direct Material Purchased 308,000
Factory Overhead 90,000
Finished Goods Inventory - January 1 144,000
Work in Process - January 1 74,000
Work in Process - December 31 98,000
Ending Raw Material Inventory 58,000
Finished Goods Inventory - December 31 168,000
Net Income 65,000
Direct Labor 155,000
Cost of Goods Sold 655,000
Use this...
The following information is available for Gildan Activewear Inc., headquartered in Montreal, for three recent fiscal...
The following information is available for Gildan
Activewear Inc., headquartered in Montreal, for three
recent fiscal years (in U.S. $ thousands):
2016
2015
2014
Inventory
$ 851,033
$ 779,407
$ 595,794
Net sales
2,959,238
2,359,994
2,284,303
Cost of goods sold
2,229,130
1,701,311
1,550,266
Calculate the inventory turnover, days in inventory, and gross
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turnover and gross profit margin ratio to 1 decimal place, e.g.
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The following information is available for Marin Inc. for three recent fiscal years. 2017 2016 2015...
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$326,238 Net sales 1,934,372 1,695,980 1,327,594 Cost of goods sold
1,554,675 1,312,366 964,008 Calculate the inventory turnover, days
in inventory, and gross profit rate for 2017 and 2016. (Round
inventory turnover to 1 decimal place, e.g. 5.2, days in inventory
to 0 decimal places, e.g. 125 and gross profit rate to 1 decimal
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The following information is available for Barnes Company for the fiscal year ended December 31: Beginning...
The following information is available for Barnes Company for
the fiscal year ended December 31:
Beginning finished goods inventory in units
0
Units produced
5,000
Units sold
4,100
Sales
$
984,000
Materials cost
$
100,000
Variable conversion cost used
$
50,000
Fixed manufacturing cost
$
100,000
Indirect operating costs (fixed)
$
80,500
The variable costing operating income is: ?
The following information is available for the first three years of operations for Jefferson Company: 1. ...
The following information is available for the first three years
of operations for Jefferson Company:
1.
Year
Taxable Income
2017
$500,000
2018
375,000
2019
400,000
2. On January 2, 2017,
heavy equipment costing $800,000 was purchased. The equipment had a
life of 5 years and no salvage value. The straight-line method of
depreciation is used for book purposes and the tax depreciation
taken each year is listed below:
Tax
Depreciation
2017
2018 ...
The following information is available for the first three years of operations for Jefferson Company: 1. ...
The following information is available for the first three years
of operations for Jefferson Company:
1.
Year
Taxable Income
2017
$500,000
2018
375,000
2019
400,000
2. On January 2, 2017, heavy equipment costing
$800,000 was purchased. The equipment had a life of 5 years and no
salvage value. The straight-line method of depreciation is used for
book purposes and the tax depreciation taken each year is listed
below:
Tax
Depreciation
2017
2018 ...
The following information is available for the first three years of operations for Wildhorse Company: 1....
The following information is available for the first three years
of operations for Wildhorse Company: 1. Year Taxable Income 2020
$610,000 2021 460,000 2022 510,000 2. On January 2, 2020, heavy
equipment costing $710,000 was purchased. The equipment had a life
of 5 years and no salvage value. The straight-line method of
depreciation is used for book purposes and the tax depreciation
taken each year is listed below: Tax Depreciation 2020 2021 2022
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The following is a list of selected information for Liverpool Co. for the fiscal year. Forecasted...
The following is a list of selected information for Liverpool
Co. for the fiscal year.
Forecasted Operations
Sales with 30.00% Increase
Unit Change
Sales in units (millions)
200
260
60
Earnings before interest and taxes (EBIT)
4,000.00
5,600.00
1,600.00
Less: Interest
(150.00)
(150.00)
(0.00)
Earnings before taxes
$3,850.00
$5,450.00
$1,600.00
Less: Taxes (40%)
1,540.00
2,180.00
(0.00)
Net income
2,310.00
3,270.00
960.00
Earnings per share (20 million shares)
$115.50
$163.50
$48.00
You are an employee for Liverpool Co., and your boss...
The following information is available for Meyer Company:
The following information is available for Meyer Company:Dividends per share of common stock$1.80Market price per share of common stock$30.00Which of the following statements is correct?a. The dividend yield is 16.7%, which is of interest to bondholders.b. The dividend yield is 6.0%, which is of special interest to investors seeking to earn revenue on their investments.c. The dividend yield is 6.0%, which is of interest to investors seeking an increase in market price of their stocks.d. The dividend yield is 16.7%,...
Annapolis Clothing Company manufactures quality boating attire. The following selected financial information for the fiscal year...
Annapolis Clothing Company manufactures quality boating
attire. The following selected financial information for the fiscal
year 2018 is provided:
Item
Amount
Sales
$200,000
Cost of Goods Manufactured
57,000
Direct Material Purchased
80,000
Factory Overhead
20,000
Work in Process - January 1
60,000
Work in Process - December 31
30,000
Direct Material - December 31
20,000
Finished Goods Inventory - December 31
39,000
Net Income
30,000
Direct Materials used
60,000
Cost of Goods Sold
59,000
Use this information to determine the...
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