Title: The Nichols Corporation data for the current year:AccountCurrent yearPrior yearCurrent assets$75,600 Post by: bernie2981 on Nov 15, 2015 The Nichols Corporation data for the current year:
Account Current year Prior year Current assets $75,600 $60,000 A/R $59,400 $44,000 Mdse. Inventory $51,200 $40,000 Current liabilities $71,500 $55,000 Long-term liabilities $36,000 $30,000 Common stock (5,000 shares) $47,460 $42,000 Retained earnings $31,240 $17,000 Net sales revenue $607,700 $515,000 COGS $469,700 $385,000 Gross Profit $138,000 $130,000 Selling/General expenses $49,080 $52,000 Net income before taxes $88,920 $78,000 Income tax expense $20,520 $18,000 Net Income $68,400 $60,000 What would a horizontal analysis report with respect to current assets? A) Inventory turnover of 9.17 times B) Current assets as 40.60% of total assets C) Current ratio of 1.06 D) A 26.00% increase in current assets Title: Re: The Nichols Corporation data for the current year:AccountCurrent yearPrior yearCurrent assets$75 Post by: nuclei on Nov 19, 2015 Content hidden
Title: Re: The Nichols Corporation data for the current year:AccountCurrent yearPrior yearCurrent assets$75,600 Post by: bernie2981 on Dec 1, 2015 Answers my question perfectly.
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