Questions
(Cash conversion cycle​) Historical data for the​ firm's sales, accounts​ receivable, inventories, and accounts payable for...

(Cash conversion cycle​) Historical data for the​ firm's sales, accounts​ receivable, inventories, and accounts payable for the Crimson Mfg. Company​ follows:

   2014   2015   2016   2017   2018
Sales   4,346   5,220   7,947   11,699   18,461
Receivables   602   811   1,086   1,368   2,268
Acounts payable   443   683   682   1,554   2,409
Inventories   341   456   655   378   354

a. Calculate​ Crimson's days of sales​ outstanding, days of payables​ outstanding, and days of sales in inventory for each of the 5 years. ​(Assume a​ 365-day year. Hint​: Assume that the​ firm's cost of goods sold equals​ 70% of​ sales.) What has Crimson accomplished in its atempts to better manage its investments in account receivable and​ inventory? ​(Round to two decimal​ places.)

b. Calculate​ Crimson's cash conversion cycle for each of the 5 years. Evaluate the​ firm's overall management of its working capital. Assume a​ 365-day year.

Days of sales outstanding​ (DSO)

2014........2015........2016........2017.......2018
? ? ? ? ?

In: Finance

The following income statement items appeared on the adjusted trial balance of Schembri Manufacturing Corporation for...

The following income statement items appeared on the adjusted trial balance of Schembri Manufacturing Corporation for the year ended December 31, 2021 ($ in thousands): sales revenue, $17,500; cost of goods sold, $7,300; selling expenses, $1,410; general and administrative expenses, $910; interest revenue, $160; interest expense, $290. Income taxes have not yet been recorded. The company’s income tax rate is 25% on all items of income or loss. These revenue and expense items appear in the company’s income statement every year. The company’s controller, however, has asked for your help in determining the appropriate treatment of the following nonrecurring transactions that also occurred during 2021 ($ in thousands). All transactions are material in amount.

  1. Investments were sold during the year at a loss of $330. Schembri also had an unrealized gain of $400 for the year on investments in debt securities that qualify as components of comprehensive income.
  2. One of the company’s factories was closed during the year. Restructuring costs incurred were $1,400.
  3. During the year, Schembri completed the sale of one of its operating divisions that qualifies as a component of the entity according to GAAP. The division had incurred a loss from operations of $540 in 2021 prior to the sale, and its assets were sold at a gain of $1,600.
  4. In 2021, the company’s accountant discovered that depreciation expense in 2020 for the office building was understated by $310.
  5. Negative foreign currency translation adjustment for the year totaled $340.


Required:
1. Prepare Schembri’s single, continuous multiple-step statement of comprehensive income for 2021, including earnings per share disclosures. One million shares of common stock were outstanding at the beginning of the year and an additional 800,000 shares were issued on July 1, 2021.
2. Prepare a separate statement of comprehensive income for 2021.

SCHEMBRI MANUFACTURING CORPORATION
Statement of Comprehensive Income
For the Year Ended December 31, 2021
($ in 000s)
Sales revenue $17,500
Cost of goods sold 7,300
Gross profit 10,200
Operating expenses:
Selling expenses $1,410
General and administrative expenses 910
Restructuring costs 1,400
Total operating expenses 3,720
Operating income 6,480
Other income (expense):
Interest revenue $160
Interest expense (290)
Loss on sale of investments (330)
Other income, net (460)
Income from continuing operations before income taxes 6,020
Income tax expense 1,505
Income from continuing operations 4,515
Discontinued operations:
Income from operations of discontinued component 1,060
Income tax expense
Income on discontinued operations
Net income 6,704
Other comprehensive income, net of tax:
Foreign currency translation adjustment
Gain on debt securities
Comprehensive income
Earnings per share:
Income from continuing operations
Income on discontinued operations
Net income $
SCHEMBRI MANUFACTURING CORPORATION
Statement of Comprehensive Income
For the Year Ended December 31, 2021
($ in 000s)
Net income
Other comprehensive income, net of tax:
Gain on debt securities
Foreign currency translation adjustment
Total other comprehensive income 1325
Comprehensive income $5,840

In: Accounting

Why do the balance sheets of property/casualty insurers look different than those of life insurers?

Why do the balance sheets of property/casualty insurers look different than those of life insurers?

In: Finance

You want to go to abroad for higher education. You have multiple options. How will you...

You want to go to abroad for higher education. You have multiple options. How will you formulate the best option that should be more applicable for your future?

In: Psychology

I need a full summary analyzing Chapter 2 of Piaget’s book “The Language and Thought of...

I need a full summary analyzing Chapter 2 of Piaget’s book “The Language and Thought of a Child”

In: Psychology

Explain the procedure for defining the hysteresis loop class for adsorption and desorption isotherms? Minimum word...

Explain the procedure for defining the hysteresis loop class for adsorption and
desorption isotherms?
Minimum word limit 600

Plagiarism 10%max

In: Other

We have all been there...assigned to that perfect group or team that works like a well...

We have all been there...assigned to that perfect group or team that works like a well oiled machine, or assigned to the team from places too hot to mention that doesn't seem to function at all. With those experiences in mind, please discuss the relationship between team cohesiveness and performance.

In: Operations Management

During an earthquake, a floor oscillates horizontally in approximately simple harmonic motion. Assume it oscillates at...

During an earthquake, a floor oscillates horizontally in approximately simple harmonic motion. Assume it oscillates at a single frequency with a period of 0.67 s.

(a) After the earthquake, you are in charge of examining the video of the floor motion and discover that a box on the floor started to slip when the amplitude reached 11 cm. From your data, determine the coefficient of static friction between the box and the floor.

______________

(b) If the coefficient of friction between the box and floor were 0.39, what would be the maximum amplitude of vibration before the box would slip?

_______________cm

In: Physics

Annual percentage yield​) Compute the cost of the following trade credit terms using the compounding​ formula,...

Annual percentage yield​) Compute the cost of the following trade credit terms using the compounding​ formula, or effective annual rate. Note​: Assume a​ 30-day month and​ 360-day year.

a. 2​/5​, net 45

b. 4​/10​, net 30

c. 2​/10​, net 60

d. 4​/10​, net 30

In: Finance

Chad was offered two options for a car he was purchasing: Lease option: Pay lease amounts...

Chad was offered two options for a car he was purchasing:

  • Lease option: Pay lease amounts of $400 at the beginning of every month for 4 years. At the the end of 4 years, purchase the car for $10,500.
  • Buy option: Purchase the car immediately for $23,500.

The money is worth 7.70% compounded monthly.

a. What is the Discounted Cash Flow (DCF) for the lease option?

b. Which is the better option?

Lease Option or Buy Option

In: Finance

Discuss the phases of Paget’s disease and the expected pathological changes in bone

Discuss the phases of Paget’s disease and the expected pathological changes in bone

In: Nursing

Culture audits are an emerging engagement. E&Y is one of the leaders in this initiative. what...

Culture audits are an emerging engagement. E&Y is one of the leaders in this initiative. what a cultural audit is and provide me with information on what is the intent of a cultural audit, how will it impact a review of a corporation, is it tied to ethics (why or why not) and does it help with the financial statement audit and the development of a audit plan?

Thank you

In: Accounting

A small copy center uses 4 400-sheet boxes of copy paper a week. Experience suggests that...

A small copy center uses 4 400-sheet boxes of copy paper a week. Experience suggests that usage can be well approximated by a normal distribution with a mean of 4 boxes per week and a standard deviation of .40 boxes per week. 2 weeks are required to fill an order for letterhead stationery. Ordering cost is $4, and annual holding cost is 33 cents per box. Use Table.

a. Determine the economic order quantity, assuming a 52-week year. (Round your answer to the nearest whole number.)

EOQ =?

b. If the copy center reorders when the supply on hand is 9 boxes, compute the risk of a stockout. (Round "z" value to 2 decimal places and final answer to 4 decimal places.)

Risk =?

c. If a fixed interval of 5 weeks is used for ordering instead of an ROP, how many boxes should be ordered if there are currently 22 boxes on hand, and an acceptable stockout risk for the order cycle is .0228? (Round "z" value to 2 decimal places and final answer to the nearest whole number.)

Q0=?

In: Operations Management

Please research the web and find two articles that deal with leaders (CEO’s politicians, public figures)...

Please research the web and find two articles that deal with leaders (CEO’s politicians, public figures) who have experienced significant personal changes on their way to becoming an effective leader. Recap for us and talk about some of the changes. Do you think this changes are ”required”? Have you experienced these changes yourself?

In: Operations Management

Be able to discuss the two broad approaches to responding to predicable variability in a supply...

Be able to discuss the two broad approaches to responding to predicable variability in a supply chain, and what methods are used in each approach.

In: Operations Management