## Need Help with Cenange Accounting Course

Question – Days Sales Outstanding 1.Greene Sisters has a DSO of 34 days. The company’s average daily sales are $44,000. What is the level of its accounts receivable? Assume there are 365 days in a year. 2.Vigo Vacations has $201 million in total assets, $5.4 million in notes payable, and $22.5 million in long-term debt. What is the debt ratio? Round your answer to two decimal places. Market/Book Ratio 3.Winston Washers’s stock price is $100 per share. Winston has $10 billion in total assets. Its balance sheet shows $1 billion in current liabilities, $3 billion in long-term debt, and $6 billion in common equity. It has 700 million shares of common stock outstanding. What is Winston’s market/book ratio? Round your answer to two decimal places. Do …Read More not round intermediate calculations. 4.Reno Revolvers has an EPS of $1.00, a cash flow per share of $4.05, and a price/cash flow ratio of 9.0. What is its P/E ratio? Round your answer to two decimal places. 5.Needham Pharmaceuticals has a profit margin of 5% and an equity multiplier of 2.3. Its sales are $80 million and it has total assets of $52 million. What is its Return on Equity (ROE)? Round your answer to two decimal places. 6.Gardial & Son has an ROA of 9%, a 6% profit margin, and a return on equity equal to 14%. 1.What is the company’s total assets turnover? Round your answer to two decimal places. What is the firm’s equity multiplier? Round your answer to two decimal places. 7.Ace Industries has current assets equal to $3 million. The company’s current ratio is 1.5, and its quick ratio is 1.0. 1.What is the firm’s level of current liabilities? Enter your answer in dollars. For example, an answer of $1.2 million should be entered as 1,200,000 $ What is the firm’s level of inventories? Enter your answer in dollars. For example, an answer of $1.2 million should be entered as 1,200,000 $ 8.Assume you are given the following relationships for the Haslam Corporation: Sales/total assets1.3

1.Calculate Haslam’s profit margin. Do not round intermediate calculations. Round your answer to two decimal places. Calculate Haslam’s liabilities-to-assets ratio. Do not round intermediate calculations. Round your answer to two decimal places. Suppose half of Haslam’s liabilities are in the form of debt. Calculate the debt-to-assets ratio. Do not round intermediate calculations. Round your answer to two decimal places. 9.The Nelson Company has $1,430,000 in current assets and $650,000 in current liabilities. Its initial inventory level is $390,000, and it will raise funds as additional notes payable and use them to increase inventory. 1.How much can Nelson’s short-term debt (notes payable) increase without pushing its current ratio below 2.1? Round your answer to the nearest cent. $ What will be the firm’s quick ratio after Nelson has raised the maximum amount of short-term funds? Round your answer to two decimal places. 10.The Morris Corporation has $1,000,000 of debt outstanding, and it pays an interest rate of 9% annually. Morris’s annual sales are $5 million, its average tax rate is 40%, and its net profit margin on sales is 6%. If the company does not maintain a TIE ratio of at least 4 to 1, its bank will refuse to renew the loan and bankruptcy will result. What is Morris’s TIE ratio? Round intermediate calculations to two decimal places. Round your answer to two decimal places. 11.Comprehensive Ratio Analysis 12.The Jimenez Corporation’s forecasted 2014 financial statements follow, along with some industry average ratios. Jimenez Corporation: Forecasted Balance Sheet as of December 31, 2014 Return on assets (ROA)2%Return on equity (ROE)9%Assets Cash$ 72,000

Jimenez Corporation: Forecasted Income Statement for 2014 Accounts receivable439,000Inventories894,000 Total current assets$1,405,000Fixed assets431,000Total assets$1,836,000Liabilities and EquityAccounts payable$ 332,000Notes payable 100,000Accruals170,000 Total current liabilities$ 60…

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