Maurice Tutor

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Teaching Since: May 2017
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    Argosy University/ Phoniex University/
    Nov-2005 - Oct-2011

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  • Professor
    Phoniex University
    Oct-2001 - Nov-2016

Category > Accounting Posted 08 Aug 2017 My Price 9.00

Barry Computer Co

Data for Barry Computer Co. and its industry averages follow.

Barry Computer Company:
Balance Sheet as of December 31, 2016 (In Thousands)
 
Cash $216,920   Accounts payable $216,920
Receivables 749,360   Other current liabilities 197,200
Inventories 571,880   Notes payable to bank 236,640
Total current assets $1,538,160   Total current liabilities $650,760
      Long-term debt $453,560
Net fixed assets 433,840   Common equity 867,680
Total assets $1,972,000   Total liabilities and equity $1,972,000

 

Barry Computer Company:
Income Statement for Year Ended December 31, 2016 (In Thousands)
 
Sales     $2,900,000
Cost of goods sold      
Materials $1,334,000    
Labor 812,000    
Heat, light, and power 174,000    
Indirect labor 116,000    
Depreciation 58,000   2,494,000
Gross profit   $ 406,000
Selling expenses   203,000
General and administrative expenses   58,000
Earnings before interest and taxes (EBIT)   $ 145,000
Interest expense   36,285
Earnings before taxes (EBT)   $ 108,715
Federal and state income taxes (40%)   43,486
Net income   $ 65,229

 

  1. Calculate the indicated ratios for Barry. Round your answers to two decimal places.
    Ratio Barry Industry Average
    Current x 2.37x
    Quick x 1.51x
    Days sales outstandinga days 44.91 days
    Inventory turnover x 5.22x
    Total assets turnover x 1.72x
    Profit margin % 2.14%
    ROA % 3.68%
    ROE % 8.00%
    ROIC % 7.00%
    TIE x 3.97x
    Debt/Total capital % 43.20%

    aCalculation is based on a 365-day year.
  2. Construct the DuPont equation for both Barry and the industry. Round your answers to two decimal places.
      FIRM INDUSTRY
    Profit margin % 2.14%
    Total assets turnover x 1.72x
    Equity multiplier x x

Answers

Maurice Tutor
(5)
Status NEW Posted 08 Aug 2017 10:08 PM My Price 9.00

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