Selected Information from the Comparative Financial Statements of Barcelona Company

question 279

Essay

Selected information from the comparative financial statements of Barcelona Company for the year ended December 31 appears below: $\begin{array}{lrr}&2014&2013\\\text { Accounts receivable (net) } & 175,000 & \$ 200,000 \\\text { Inventory } & 130,000 & 170,000 \\\text { Total assets } & 1,100,000 & 800,000 \\\text { Current liabilities } & 140,000 & 110,000 \\\text { Long-term debt } & 410,000 & 300,000 \\\text { Net credit sales } & 900,000 & 700,000 \\\text { Cost of goods sold } & 600,000 & 530,000 \\\text { Interest expense } & 40,000 & 25,000 \\\text { Income tax expense } & 60,000 & 29,000 \\\text { Net income } & 120,000 & 85,000 \\\text { Net cash provided by operating activities } & 250,000 & 135,000\end{array}$ Instructions
Answer the following questions relating to the year ended December 31, 2014. Show computations.
1. The inventory turnover for 2014 is __________.
2. The number of times interest earned in 2014 is __________.
3. The accounts receivable turnover for 2014 is __________.
4. The return on assets for 2014 is __________.
5. The current cash debt coverage for 2014 is __________.

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Definitions:

Sociobiology

A field of scientific study that examines social behavior from an evolutionary perspective, aiming to understand how biology and evolution influence social behavior in animals, including humans.

Other-oriented

An approach or mindset focused on the thoughts, feelings, and needs of others rather than oneself.

Racial Discrimination

Unfair treatment of individuals based on their race or ethnicity.

Ethnic Discrimination

Unfair treatment of individuals based on their ethnicity, including prejudice, exclusion, or hostility.