Assume a company has the following financial information:
|
Cash and short-term investment |
$ 6 |
|
Prepaid expenses |
-0- |
|
Capital assets |
90 |
|
Total liabilities |
40 |
|
Shareholders’ equity |
140 |
|
Sales |
420 |
|
Credit sales |
300 |
|
Current ratio |
2.5:1 |
|
Acid-test ratio |
1:1 |
|
Gross profit ratio |
30% |
Assume current assets consist of cash, short-term investments, accounts receivable, inventory, and prepaid expenses, and that ending balances are the same as average balances for the year.
Required: Calculate
- Current liabilities
- Inventory
- Accounts receivable collection period
- Number of days of sales in inventory.
- (Appendix) Net financial debt. Assume current liabilities consist of a bank loan.
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