PROBLEM 13-1A(a) Condensed Income Statement For the Year Ended December 31, 2012 Silver CompanyGold.

PROBLEM 13-1A(a) Condensed Income Statement For the Year Ended December 31, 2012 Silver CompanyGold CompanyDollarsPercentDollarsPercentNet salesCost of goods soldGross profitOperating expensesIncome from operationsOther expenses and losses Interest expenseIncome before income taxesIncome tax expenseNet income$1,849,000 1,063,200 785,800 240,000 545,800 6,800 539,000 62,000$ 477,000100.0% 57.5% 42.5% 13.0% 29.5% .4% 29.1% 3.3% 25.8%$546,000 289,000 257,000 82,000 175,000 3,600 171,400 28,000$143,400xxxxxxxxxxxxxxxxxxxxxxxxxxxPROBLEM 13-5ACalculate the ratios and replace the xx with the value.(a)RatioTargetWal-Mart(All Dollars Are in Millions)?(1) Current?(2) Receivables turnover?(3) Average collection ? period (in days)?(4) Inventory turnover?(5) Days in inventory?(6) Profit margin?(7) Asset turnover?(8) Return on assets?(9) Return on common ? stockholders’ equity(10) Debt to total assets(11) Times interest earned(12) Current cash debt ? coverage(13) Cash debt coverage(14) Free cash flow($18,424 ÷ $11,327) =xx($65,357 ÷ $7,525) =xx(365 ÷ 8.7) =xx($45,583 ÷ $6,942) =xx(365 ÷ 6.6) =xx($2,488 ÷ $65,357) =xx($65,357 ÷ $44,319.5a) =xx($2,488 ÷ $44,319.5a) =xx ($2,488 ÷ $14,529.5b) =xx($29,186 ÷ $44,533) =xx($4,579c ÷ $707) =xx($5,881 ÷ $10,919.5d) =xx($5,881 ÷ $29,790e) =xx($5,881 – $1,729 – $496) =xx($48,331 ÷ $55,561) =xx($408,214 ÷ $4,025) =xx(365 ÷ 101.4) =xx($304,657 ÷ $33,836) =xx(365 ÷ 9.0) =xx($14,335 ÷ $408,214) =xx($408,214 ÷ $167,067.5f) =xx($14,335 ÷ $167,067.5f) =xx($14,335 ÷ $68,369g) =xx($99,650 ÷ $170,706) =xx($23,539h ÷ $2,065) =xx ($26,249 ÷ $55,475.5i) =xx($26,249 ÷ $98,698.5j) =xx($26,249 – $12,184 – $4,217) =xx a($44,533 + $44,106) ÷ 2 f($170,706 + $163,429) ÷ 2 b($15,347 + $13,712) ÷ 2 g($71,056 + $65,682) ÷ 2 c($2,488 + $1,384 + $707) h($14,335 + $7,139 + $2,065) d($11,327 + $10,512) ÷ 2 i($55,561 + $55,390) ÷ 2 e(($11,327 + $17,859) + $30,394) ÷ 2 j(($55,561 + $44,089) + $97,747) ÷ 2(b) Use the ratio calculation above for Target and Wal-mart and compare the two companies ratio values to one another and explain which company’s ratio is better and why. Liquidity— Solvency— Profitability—Attachments

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