Posted: August 14th, 2016
1. Gonzaba Inc. reported the following selected financial statement data:
Cash Dec 31, 2012 Dec 31, 2013
$30,000 $32,000
Accounts receivable (net) 48,000 52,000
Inventory 68,000 72,000
Plant assets (net) 210,000 218,000
Total assets 405,000 395,000
Liabilities 145,000 145,000
Shareholders’ equity 260,000 250,000
Net sales 340,000 400,000
Cost of goods sold 220,000 280,000
Net income 20,000 25,000
Required:
A) Compute the receivables turnover ratio for 2013.
B) Compute the inventory turnover ratio for 2013.
C) Compute the asset turnover ratio for 2013.
D) Compute the return on shareholders’ equity for 2013.
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