60.1K

Verified Solution

Link Copied!

me 2008 and 2009 financial statements for Terry Manufacturing appear below. Use em to answer the questions that follow. Don't assume anything! Use this information, the assumptions given in the questions. Check with me if you are not clear about what s being asked in the questions Terry Manufacturing Company Income Statements 2008 Net Sales $29000 Cost of Goods Sold 19500 Selling Expenses 5600 Depreciation 900 Interest Expense 600 Taxable income 2400 Taxes 816 Net Income $1584 2009 $30500 20960 5400 1000 840 2300 782 51518 Terry Manufacturing Company Balance Sheets 2008 Cash $800 Accounts Receivable 3200 Inventory 4050 Total Current Assets 8050 Net Fixed Assets 8900 Total Assets $16950 2009 $120 3800 6250 10170 8700 $18870 Accounts Payable Accruals Notes Payable Total Current Liabilities ong-term Debt ommon Stock tal Liabilities and Equity 1250 350 600 2200 5500 9250 $16950 1350 502 200 2052 7000 9818 $18870 Net Profit Margin Gross Profit Margin Industry Terry 2009 33.8% Operating Profit Margin Total Asset Turnover 12.8% 1.67 times Fixed Asset Turnover 3.68 times Days Sales in Inventory 113 days Days Sales Outstanding 43 days 22 days Accounts Payable Days 0.86 Debt to Equity 4.86 Current Ratio 4.64 times Times Interest Earned 20.6% Return on Equity me 2008 and 2009 financial statements for Terry Manufacturing appear below. Use em to answer the questions that follow. Don't assume anything! Use this information, the assumptions given in the questions. Check with me if you are not clear about what s being asked in the questions Terry Manufacturing Company Income Statements 2008 Net Sales $29000 Cost of Goods Sold 19500 Selling Expenses 5600 Depreciation 900 Interest Expense 600 Taxable income 2400 Taxes 816 Net Income $1584 2009 $30500 20960 5400 1000 840 2300 782 51518 Terry Manufacturing Company Balance Sheets 2008 Cash $800 Accounts Receivable 3200 Inventory 4050 Total Current Assets 8050 Net Fixed Assets 8900 Total Assets $16950 2009 $120 3800 6250 10170 8700 $18870 Accounts Payable Accruals Notes Payable Total Current Liabilities ong-term Debt ommon Stock tal Liabilities and Equity 1250 350 600 2200 5500 9250 $16950 1350 502 200 2052 7000 9818 $18870 Net Profit Margin Gross Profit Margin Industry Terry 2009 33.8% Operating Profit Margin Total Asset Turnover 12.8% 1.67 times Fixed Asset Turnover 3.68 times Days Sales in Inventory 113 days Days Sales Outstanding 43 days 22 days Accounts Payable Days 0.86 Debt to Equity 4.86 Current Ratio 4.64 times Times Interest Earned 20.6% Return on Equity

Answer & Explanation Solved by verified expert

See Answer