## [answered] Brief Exercise 18-2 Schellhammer Corporation reported the f

I need help with Accounting?Homework 18.? The attached file are Homework problems?I need assistance in problems.

Brief Exercise 18-2

Schellhammer Corporation reported the following amounts in 2013, 2014, and 2015.

2013 2014 2015 Current assets

Current liabilities \$269,300

\$161,100 \$298,923

\$169,150 \$323,160

\$183,420 Total assets \$526,600 \$620,030 \$618,230 (b)

Perform each of the three types of analysis on Schellhammer?s current assets. (Round percentages

to 0 decimal places, e.g. 43% and ratios to 2 decimal places, e.g.1.58.)

2013 2014 2015 Horizontal

Analysis

Current assets % % % % % % Vertical Analysis

Current assets Ratio Analysis

Current ratio Brief Exercise 18-11 (Part Level Submission) The following data are taken from the financial statements of Rainsberger Company.

2015

Accounts receivable (net), end of year

Net sales on account

Terms for all sales are 1/10, n/60. \$576,700

4,048,600 2014

\$499,600

3,050,900 (a1)

Compute for each year the accounts receivable turnover. At the end of 2013, accounts receivable

(net) was \$507,300. (Round answers to 1 decimal place, e.g. 1.6.)

2015 2014 Accounts receivable

turnover

times times Brief Exercise 18-12 (Part Level Submission)

The following data are from the income statements of Haskin Company. Sales 2015 2014 \$6,314,000 \$6,280,300 Beginning inventory

Purchases 932,600

4,350,400 837,400

4,615,200 Ending inventory 1,026,300 932,600 Compute for each year the inventory turnover. (Round answers to 1 decimal place, e.g. 1.6.)

2015 2014 Inventory turnover

times times Brief Exercise 18-13

Guo Company has owners? equity of \$381,900 and net income of \$57,700. It has a payout ratio of 30%

and a return on assets of 10%.

How much did Guo pay in cash dividends, and what were its average assets? (Round answers to 0

decimal places, e.g. 125.)

\$

Cash dividends

\$

Average assets Exercise 18-2

Operating data for Navarro Corporation are presented below.

2015

Net sales

Cost of goods sold

Selling expenses

Administrative expenses

Income tax expense \$754,230

469,900

123,710

55,640

31,520 2014

\$597,940

393,300

73,000

54,760

21,450 Net income 73,460 55,430 Prepare a schedule showing a vertical analysis for 2015 and 2014. (Round answers to 1 decimal

place, e.g. 48.5%.)

NAVARRO CORPORATION

Condensed Income Statements

For the Years Ended December 31

2015

Amount

Net sales 2014 Percent Amount \$754,23

0 Percent \$597,94

0

% Cost of goods sold 469,900 %

393,300 %

Gross profit 284,330 %

204,640 %

Selling expenses 123,710 %

73,000 %

Administrative expenses 55,640 %

54,760 %

Total operating expenses 179,350 %

127,760 %

Income before income

taxes 104,980 %

76,880 %

Income taxes expense 31,520 %

21,450 %

Net income \$73,460 %

\$55,430 % % Exercise 18-5

Suppose Nordstrom, Inc., which operates department stores in numerous states, has the following

selected financial statement data for the year ending January 30, 2014.

NORDSTORM, INC.

Balance Sheet (partial)

(in millions)

End-of-Year

Cash and cash equivalents

\$ 1,550 Beginning-of-Year

\$ 140 Accounts receivable (net)

Inventory 3,968

1,751 3,787

1,755 172

464 181

410 Total current assets \$7,905 \$6,273 Total current liabilities \$3,927 \$3,122 Prepaid expenses

Other current assets For the year, net sales were \$16,103 and cost of goods sold was \$10,390 (in millions).

(a)

Compute the four liquidity ratios at the end of the year. (Round answers to 1 decimal place, e.g.

1.6 .) Current ratio :1 Acid-test ratio :1 Accounts receivable

turnover times Inventory turnover times

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