CashInventoriesAccounts receivableThe most recent data from the annual balance sheets of N&B Equipment Company and Jing FoodstuffsCorporation are as follows:Balance Sheet December31st31st(Millions of dollars)JingFoodstuffsCorporationN&BEquipmentCompanyJingFoodstuffsCorporationN&BEquipmentCompanyAssetsLiabilitiesCurrentassetsCurrentliabilitiesCash$574$369Accountspayable$0$0Accountsreceivable210135Accruals1270Inventories616396Notespayable717675Totalcurrentassets$1,400$900Totalcurrentliabilities$844$675Net fixedassetsLong-termbonds1,031825Net plantandequipment1,1001,100Total debt$1,875$1,500 CommonequityCommonstock$406$325Retainedearnings219175Totalcommonequity$625$500Total assets$2,500$2,000Totalliabilitiesand equity$2,500$2,000N&B Equipment Company’s current ratio is1.3333, and its quick ratio is0.7467; JingFoodstuffs Corporation’s current ratio is1.6588, and its quick ratio is0.9289.Note:Round your values to four decimal places.Which of the following statements aretrue?Check all that apply. 3. Asset management ratios Consider the following case:Crawford Construction has a quick ratio of 2.00x, $32,175 in cash, $17,875 in accounts receivable,some inventory, total current assets of $71,500, and total current liabilities of $25,025. The companyreported annual sales of $300,000 in the most recent annual report.Over the past year, how often did Crawford Construction sell and replace its inventory?Points:1 / 1Close Explanation  Transcribed Image Text:Accounts receivable Net fixed assets Total assets Data Collected (in dollars) Like Games Our Play Industry Average 8,100 11,700 11,550 165,000 240,000 650,250 285,000 375,000 703,800 Using this information, complete the following statements to include in your analysis. 1. Our Play has days of sales tied up in receivables, which is much collect cash from its customers than it takes Like Games. 2. Like Games's fixed assets turnover ratio is than that of Our Play. This is because Like Games was formed eight years ago, so the acquisition cost of its fixed assets is recorded at historic values when the company bought its assets and has been depreciated since then. Assuming that fixed assets prices (not book values) rose over the past six years due to inflation, Our Play paid a assets. amount for its fixed 3. The average total assets turnover in the electronic toys industry is every dollar of investment in assets. A ratios are than the industry average. than the industry average. It takes Our Play time to which means that of sales is being generated with total assets turnover ratio indicates greater efficiency. Both companies' total assets turnover Transcribed Image Text:3. Asset management ratios Asset management ratios are used to measure how effectively a firm manages its assets, by relating the amount a firm has invested in a particular type of asset (or group of assets) to the amount of revenues the asset generating. Examples of asset management ratios include the average collection period (also called the days sales outstanding ratio), the inventory turnover ratio, the fixed asset turnover ratio, and the total asset turnover ratio. Consider the following case: Crawford Construction has a quick ratio of 2.00x, $32,175 in cash, $17,875 in accounts receivable, some inventory, total current assets of $71,500, and total current liabilities of $25,025. The company reported annual sales of $300,000 in the most recent annual report. Additionally, the company's cost of goods sold is 75% of sales. Over the past year, how often did Crawford Construction sell and replace its inventory? O8.01x O 11.54x O2.86x 10.49x The inventory turnover ratio across companies in the construction industry is 8.9165x. Based on this information, which of the following statements is true for Crawford Construction? O Crawford Construction is holding less inventory per dollar of sales compared with the industry average. O Crawford Construction is holding more inventory per dollar of sales compared with the industry average. You are analyzing two companies that manufacture electronic toys-Like Games Inc. and Our Play Inc. Like Games was launched eight years ago, whereas Our Play is a relatively new company that has been in operation for only the past two years. However, both companies have an equal market share with sales of $300,000 each. You've collected company data to compare Like Games and Our Play. Last year, the average sales for all industry competitors was $765,000. As an analyst, you want to make comments on the expected performance of these two companies in the coming year. You've collected data from the companies' financial statements. This information is listed as follows: (Note: Assume there are 365 days in a year.) Q: Auerbach Inc. issued 4% bonds on October 1, 2021. 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Over the past year, how often did crawford construction sell and replace its inventory?
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