Question

Fictishus Inc. Balance Sheet As of December 31, 2019 ASSETS                                &nb

Fictishus Inc.

Balance Sheet

As of December 31, 2019

ASSETS                                                                                                                LIABILITIES AND SHAREHOLDERS EQUITY

Current Assets                                                                                                 Current Liabilities                  

                  Cash                                                                  600                                           Accounts Payable                                        800

                  Accounts Receivable                                  400                                           Notes Payable                                              200

                  Inventory                                                     1,400                                           Total Current Liabilities                         1,000

                  Investments                                               1,200                         Long Term Debt                                                          2,800

                  Total Current Assets                               3,600                         TOTAL LIABILITIES                                                      3,800

Fixed Assets                                                                 2,200

TOTAL ASSETS                                                             5,800                         Shareholders Equity

                                                                                                                                                Common Stock                                         2,000

Select 2019 Income Statement information:

  • Revenue:                                            $8,100
  • Cost of Goods Sold:                        $5,400
  • SG&A Expense:                                $1,350
  • Net Income:                                         $810
  1. What is the current ratio?
  2. What are the inventory days or turns (just specify which one)?
  3. What are the days receivables?
  4. What is the gross profit margin percentage?
  5. What is the operating profit margin percentage?
  6. What is the company’s Return on Equity?
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Homework Answers

Answer #1

a. Current ratio=current assets/current liabilities=3600/1000=3.6x

b.Inventory days=(Inventory/Cost of goods sold)*365=(1400/5400)*365=94.63 days

c. Receivable days=(Accounts receivable/Revenue)*365=(400/8100)*365=18.02 days

d.Gross profit margin=(Revenue-Cost of goods sold)/Revenue=(8100-5400)/8100=33.33%

e. Operating profit margin=(Revenue-cost of goods sold-SG&A expenses)/Revenue=(8100-5400-1350)/8100=16.67%

f. Return on Equity= Net Income/Total equity=810/2000=40.5%

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