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Justice Corporation reported these figures EEB (Click the icon to view the balance sheet.) EEB (Click the icon to view the income statement.) Justice Corporation has 2,500,000 shares of common stock outstanding. Its stock has traded recently at $32.90 per share. You would like to gain a better understanding of Justice Corporation's financial position. Assume all sales are on credit. Read the requirement. a. Inventory turnover Enter the formula on the first line, then calculate the inventory turnover on the next line. (Enter amounts in thousands as provided to you in the problem statement. Round your answer to one decimal place.) Inventory turnover Justice times per year. To determine if this seems reasonable, a comparison with would be necessary to reach a better conclusi on b. Days' sales in receivables Enter the formula on the first line, then calculate the days' sales in average receivables on the next line. (Enter amounts in thousands as provided to you in the problem statement. Round your answer to one decimal place.) Days' sales in average receivables - days Based on a typical 30 days' sales in average It takes Justice receivables that most companies expect, this is collecting from custome c. Acid-test ratio Enter the formula on the first line, then calculate the acid-test ratio on the next line. (Enter amounts in thousands as provided to you in the problem statement. days to This rs. A possible solution might be Abbreviation used: ST-short-term. Round your answer to two decimal places. For accounts with a zero balance enter $0 where appropriate.) Acid-test ratio Justice can pay off .Due toa receivables collection time, the receivables This d. Times-interest-earned Enter the formula on the first line, then calculate the times-interest-earned on the next line. (Enter amounts in thousands as provided to you in the problem statement. Round your answer to one decimal place.) Times-interest-earned times. There Justice's servicing its debt according to this ratio. e. Gross profit percentage Enter the formula on the first line, then calculate the gross profit percentage on the next line. (Enter amounts in thousands as provided to you in the problem statement. Round your answer to one decimal place.) Gross profit percentage % of each sales dollar is gross profit for the company. This is a gross profit percentage but should be compared to the to better determine if it is reasonable. t.Operating income percentage Enter the formula on the first line, then calculate the operating income percentage on the next line. (Enter amounts in thousands as provided to you in the problem statement. Round your answer to one decimal place.) - Operating income percentage % of each sales dollar is income for the company. This is a operating income percentage but should be compared to the g. Return on stockholders' equity Enter the formula on the first line, then calculate the return on stockholders' equity on the next line. (Enter amounts in thousands as provided to you in the to better determine if it is reasonable. problem statement. Round the percentage to the nearest whole percent. For accounts with a zero balance enter $0 where appropriate.) -Rate of return on equity If we assume any double digit rate of return on equity is strong, we can say Justice Corporation has a return because the returm on stockholders' equity is% h. Earnings per share Enter the formula on the first line, then calculate the EPS on the next line. (Enter net income in thousands as provided to you in the problem statement. Enter the shares of outstanding common stock in thousands as well, although it is not given in thousands in the data provided to you. Round your answer to the nearest cent. For accounts with a zero balance enter $0 where appropriate.) EPS of $ Justice generates i. Price/earnings ratio Enter the formula on the first line, then calculate the P/E ratio on the next line. (Round your answer to one decimal place.) per share of common stock. P/E ratio times of one share of stock istimes the According to this ratio, the| per one share of stock. A comparison in overpriced or underpriced compared to the industry. is needed to determine if this stock is Justice Corporation Balance Sheets December 31, 2017 and 2016 (amounts in thousands) 2017 2016 Assets Current assets Cash Accounts receivables Inventory Other current assets $3,720 2,600 2,460 1,300 1,990 $ 10,920 8,350 18,000 $ 30,920 $ 26,350 3,000 1,900 2,300 Total current assets 20,000 Other assets Total assets Liabilities Total current liabilities $ 12,000 $ 10,500 8,050 7,920 Long-term liabilities Total liabilities $19,920 $ 18,550 Stockholders' equity 11,000 7,800 Total common stockholders' equity Justice Corporation Income Statement For the Year Ended December 31, 2017 (amounts in thousands) 2017 Sales revenue Less: Cost of goods sold Gross profit Less: Operating expenses Operating income Less: Interest expense Income before income taxes Less: Income tax expense Net income $ 15,330 5,120 10,210 3,010 $ 7,200 300 $ 6,900 4,550 $2,350 Justice Corporation reported these figures EEB (Click the icon to view the balance sheet.) EEB (Click the icon to view the income statement.) Justice Corporation has 2,500,000 shares of common stock outstanding. Its stock has traded recently at $32.90 per share. You would like to gain a better understanding of Justice Corporation's financial position. Assume all sales are on credit. Read the requirement. a. Inventory turnover Enter the formula on the first line, then calculate the inventory turnover on the next line. (Enter amounts in thousands as provided to you in the problem statement. Round your answer to one decimal place.) Inventory turnover Justice times per year. To determine if this seems reasonable, a comparison with would be necessary to reach a better conclusi on b. Days' sales in receivables Enter the formula on the first line, then calculate the days' sales in average receivables on the next line. (Enter amounts in thousands as provided to you in the problem statement. Round your answer to one decimal place.) Days' sales in average receivables - days Based on a typical 30 days' sales in average It takes Justice receivables that most companies expect, this is collecting from custome c. Acid-test ratio Enter the formula on the first line, then calculate the acid-test ratio on the next line. (Enter amounts in thousands as provided to you in the problem statement. days to This rs. A possible solution might be Abbreviation used: ST-short-term. Round your answer to two decimal places. For accounts with a zero balance enter $0 where appropriate.) Acid-test ratio Justice can pay off .Due toa receivables collection time, the receivables This d. Times-interest-earned Enter the formula on the first line, then calculate the times-interest-earned on the next line. (Enter amounts in thousands as provided to you in the problem statement. Round your answer to one decimal place.) Times-interest-earned times. There Justice's servicing its debt according to this ratio. e. Gross profit percentage Enter the formula on the first line, then calculate the gross profit percentage on the next line. (Enter amounts in thousands as provided to you in the problem statement. Round your answer to one decimal place.) Gross profit percentage % of each sales dollar is gross profit for the company. This is a gross profit percentage but should be compared to the to better determine if it is reasonable. t.Operating income percentage Enter the formula on the first line, then calculate the operating income percentage on the next line. (Enter amounts in thousands as provided to you in the problem statement. Round your answer to one decimal place.) - Operating income percentage % of each sales dollar is income for the company. This is a operating income percentage but should be compared to the g. Return on stockholders' equity Enter the formula on the first line, then calculate the return on stockholders' equity on the next line. (Enter amounts in thousands as provided to you in the to better determine if it is reasonable. problem statement. Round the percentage to the nearest whole percent. For accounts with a zero balance enter $0 where appropriate.) -Rate of return on equity If we assume any double digit rate of return on equity is strong, we can say Justice Corporation has a return because the returm on stockholders' equity is% h. Earnings per share Enter the formula on the first line, then calculate the EPS on the next line. (Enter net income in thousands as provided to you in the problem statement. Enter the shares of outstanding common stock in thousands as well, although it is not given in thousands in the data provided to you. Round your answer to the nearest cent. For accounts with a zero balance enter $0 where appropriate.) EPS of $ Justice generates i. Price/earnings ratio Enter the formula on the first line, then calculate the P/E ratio on the next line. (Round your answer to one decimal place.) per share of common stock. P/E ratio times of one share of stock istimes the According to this ratio, the| per one share of stock. A comparison in overpriced or underpriced compared to the industry. is needed to determine if this stock is Justice Corporation Balance Sheets December 31, 2017 and 2016 (amounts in thousands) 2017 2016 Assets Current assets Cash Accounts receivables Inventory Other current assets $3,720 2,600 2,460 1,300 1,990 $ 10,920 8,350 18,000 $ 30,920 $ 26,350 3,000 1,900 2,300 Total current assets 20,000 Other assets Total assets Liabilities Total current liabilities $ 12,000 $ 10,500 8,050 7,920 Long-term liabilities Total liabilities $19,920 $ 18,550 Stockholders' equity 11,000 7,800 Total common stockholders' equity Justice Corporation Income Statement For the Year Ended December 31, 2017 (amounts in thousands) 2017 Sales revenue Less: Cost of goods sold Gross profit Less: Operating expenses Operating income Less: Interest expense Income before income taxes Less: Income tax expense Net income $ 15,330 5,120 10,210 3,010 $ 7,200 300 $ 6,900 4,550 $2,350