working capital
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Free InquiryShown below are data taken from a recent annual report of, Topaz, Inc. (Dollar amounts in millions.) Beginning End
of Year of Year
Balance sheet data: Current assets……………………………………………………. $ 825 $900 Total assets……………………………………………………….. $1,075 $1,325 Current liabilities……………………………………………….. $475 $375 Total liabilities…………………………………………………… $500 $600 Total stockholders’ equity……………………………………. $575 $725
Income statement data: Net sales…………………………………………………………… $1,900 Gross profit……………………………………………………….. $700 Operating income………………………………………………. $450 Net income……………………………………………………….. $100
. Instructions Compute the following: a Current ratio at beginning of the year(round to nearest tenth) ________ to 1
b Working capital at year-end (in millions) $____________
c Gross profit rate for the year (round to the nearest 1 percent) ______%
d Return on average total assets for the year (round to the nearest 1 percent) ______%
e Return on average total equity for the year (round to the nearest 1 percent) ______%
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