Reference no: EM131049341
2014 2015
BALANCE SHEETS:
Cash 120,000 160,000
Accounts Receivable 520,000 620,000
Inventory 305,000 290,000
Fixed Assets, net 410,000 510,000
Total Assets 1,355,000 1,580,000
Liabilities and Equity:
Accounts Payable 350,000 375,000
Long-term Debt 500,000 625,000
Common Stock 50,000 75,000
Retained Earnings 455,000 505,000
Total Liabilities and Equity 1,355,000 1,580,000
INCOME STATEMENT:
Revenue 3,500,000
Cost of Goods Sold 2,275,000
General and Administrative 515,000
Depreciation Expense 120,000
Earnings Before Interest and Taxes 590,000
Interest Expense 40,000
Pretax Net Income 550,000
Income Taxes 187,000
Net Income 363,000
1. Assuming that all Plyler’s sales are on credit, what was the company’s Days Sales Outstanding in 2015? (For balance sheet accounts, use the average of the beginning and end-of-year balances).
2. Starting with Net Income, show the calculation of Cash Flow from Operations for Plyler for 2015?
3. What was Plyler’s Equity Multiplier for 2015?
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: Assuming that all Plyler’s sales are on credit, what was the company’s Days Sales Outstanding in 2015? (For balance sheet accounts, use the average of the beginning and end-of-year balances). What was Plyler’s Equity Multiplier for 2015?
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