/Player Test.aspx?testld-124392113&centerwin-yes; Ta nd 3 This Test: 100 pts Tim

Question

/Player Test.aspx?testld-124392113&centerwin-yes; Ta nd 3 This Test: 100 pts Time Remaining: 01:04:44 Data Table Sunny Day Corporation Income Statement (Adapted) For the Fiscal Years 2012 and 2011 dit (amounts in millions) 2012 2011 Sales revenues 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 S 73,100 S 70,000 46,990 s 23,387 23,010 16,310 ulat 49,713 ecimal p 16,96016.310 6,427 $ 6,700 882 $ 5,605 $ 5,818 1,978 3.840 NOTES Target's 2012 fiscal year ended February 2, 2013, and its 2011 822 culat priat decimal p 1.906 S 3699 $ cid-test ratio iscal year ended January 28, 2012 Additionally, Sales revenues includes the pany's credt card opertalons including credit card revenue net of credit card expensea

Explanation / Answer

Ratio 1 Current Ratio Current Asset Divided By Current Liabilites 15917 Divided By 14270 1.12 2 Acid test Ratio Current Asset -Inventory Divided By Current Liabilites (15917-7836) Divided By 14270 56.63% 3 Inventory Turnover ratio Cost Of goods sold Divided By Average Inventory 49713 Divided By (7836+7852)/2 6.34 4 Days sales in receivable Average Account Receivable Divided By Net Credit sales *365 days (5410+5560)/2 Divided By 73100 27 5 Debt Rati0 Total liabilities Divided By Total asset 32100 Divided By 48404 0.663 6 Times Interest Earned EBIT Divided By Interest Expense 6427 Divided By 822 7.82 7 Rate of return on sales EBIT Divided By Sales Revenue 6427 Divided By 73100 8.79%

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