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PDtax
PDtax, MBA, CPA
Category: Multiple Problems
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Experience:  Former college tutor and instructor. MBA/CPA, current business consultant/tax pro/writer.
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4. TCO ) Use the following current year financial statements

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4. TCO B) Use the following current year financial statements for Abbee Aviation to perform ratio analysis. Abbee
Aviation Income Statement Revenue $4,400,000 Cost of goods sold 2,300,000 Gross profit 2,100,000 Operating expenses 750,000 Operating income (EBIT) 1,350,000 Interest expense 270,000 Earnings before taxes 1,080,000 Taxes (at 40%) 432,000 Net income 648,000
Abbee Aviation Balance Sheet Current assets Cash $2,780,000 Accounts receivable 670,000 Inventory 750,000 Total current assets 4,200,000 Non-current assets Fixed assets 5,200,000 Accumulated depreciation (2,400,000) Net fixed assets 2,800,000 Total assets
$7,000,000 Current liabilities Accounts payable 890,000 Accrued liabilities 560,000 Total current liabilities 1,450,000 Non-current liabilities Bonds payable 3,000,000 Total liabilities 4,450,000 Shareholders' equity Common stock 550,000 Retained earnings
2,000,000 Total shareholders' equity 2,550,000 Total liabilities and shareholders' equity $7,000,000 (a) Calculate the firm’s operating return on assets. Assume that the firm’s year-end total assets balance for the prior year was $6 million. (b) Calculate
the firm’s net working capital (c) What is the number of “accounts receivable days” for Abbee Aviation? Assume that the firm’s year-end accounts receivable balance for the prior year was $650,000. (d) What is the firm’s return on assets at the end of this
year? Assume that the firm’s year-end total assets balance for the prior year was $6 million.
Submitted: 1 year ago.
Category: Multiple Problems
Expert:  Johnmark1900 replied 1 year ago.
helloMy name is***** can assist you. please advise me your deadlinethanks
Customer: replied 1 year ago.
Are you going to assist me with answering the question? Does the deadline matter?
Expert:  Johnmark1900 replied 1 year ago.
yes i canhow many hours do i have to answer?
Customer: replied 1 year ago.
How do i just get a refund.. you are talking hours?
Expert:  PDtax replied 1 year ago.
Hi from Just Answer. I'mCustomer Since the last expert opted out, I can assist. Please confirm you still need assistance. I can work this up today if needed.
Expert:  PDtax replied 1 year ago.
A) 16.6154%B)(###) ###-####) 54.75D) 9.9692% Thanks for asking at Just Answer. Please rate my answer when you accept so I am credited with assisting. I'mCustomer

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