Shown Below Are Data Taken from a Recent Annual Report

question 156

Essay

Shown below are data taken from a recent annual report of, Topaz, Inc. (Dollar amounts in millions.)
Instructions Compute the following:
a. Current ratio at year-end (round to nearest tenth) ________ to 1
b. Working capital at the beginning of the year (in millions) $____________
c. Gross profit rate for the year (round to the nearest 1 percent) ______%
d. Return on average total assets for the year (round to the nearest 1 percent) ______%
e. Return on average total equity for the year (round to the nearest 1 percent) ______%
$\begin{array}{lrr}&\text { Beginning } & \text { End } \\&\text { of Year } & \text { of Year }\\\\\text { Balance sheet data: }\\\text { Current assets } & \$ 625 & \$ 700 \\\text { Total assets. } & \$ 1,050 & \$ 1,200 \\\text { Current liabilities } & \$ 275 & \$ 175 \\\text { Total liabilities } & \$ 500 & \$ 600 \\\text { Total stockholders' equity } & \$ 575 & \$ 725\\\\\text { Income statement data: }\\\text { Net sales } && \$ 1,900 \\\text { Gross profit } && \$ 900 \\\text { Operating income } && \$ 450 \\\text { Net income } && \$ 300\end{array}$

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Definitions:

Emotional Intelligence

The ability to understand, use, and manage one's own emotions in positive ways to relieve stress, communicate effectively, empathize with others, and overcome challenges.

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Mental abilities that enable understanding, learning, problem-solving, and decision-making.

Foresight

The ability to anticipate future trends, consequences, or needs and prepare accordingly.

Intuition

The ability to understand or know something immediately, based on feelings rather than facts or evidence.