the red is incorrect ,please give me a correct answer Exercise 13-12 Your answer...
90.2K
Verified Solution
Link Copied!
Question
Accounting
the red is incorrect ,please give me a correct answer
Exercise 13-12 Your answer is partially correct. Try again. Pronghorn Corp experienced a fire on December 31, 2017, in which its financial records were partially destroyed. It has been able to salvage some of the records and has ascertained the following balances. December 31, 2017 December 31, 2016 Cash Accounts receivable (net) Inventory Accounts payable Notes payable Common stock, $100 par Retained earnings $38,600 73,600 208,600 50,900 39,500 406,000 122,200 $18,000 129,600 183,900 89,900 60,900 406,000 106,000 Additional information 1. The inventory turnover is 4.2 times. 2. The return on common stockholders' equity is 22%. The company had no additional paid-in capital 3. The receivables turnover is 12.8 times. 4. The return on assets is 18%. 5. Total assets at December 31, 2016, were $610,300. Compute the following for Pronghorn Corp. (Round all answers to 0 decimal place, e.g. 2,150.)
Get Answers to Unlimited Questions
Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!
Membership Benefits:
- Unlimited Question Access with detailed Answers
- Zin AI - 3 Million Words
- 10 Dall-E 3 Images
- 20 Plot Generations
- Conversation with Dialogue Memory
- No Ads, Ever!
- Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Other questions asked by students
StudyZin's Question Purchase
1 Answer
$0.99
(Save $1 )
One time Pay
- No Ads
- Answer to 1 Question
- Get free Zin AI - 50 Thousand Words per Month
Best
Unlimited
$4.99*
(Save $5 )
Billed Monthly
- No Ads
- Answers to Unlimited Questions
- Get free Zin AI - 3 Million Words per Month
*First month only
Free
$0
- Get this answer for free!
- Sign up now to unlock the answer instantly
You can see the logs in the Dashboard.