BA 350 Week 2 Chapter 3 Questions and ProblemsQ3-3: Over the past years, M. D. Rryngaert & Co. has realized an increase in its current ratio and drop in its total assets turnover ratio. However, the company’s sales, quick ratio, and fixed assets turnover ratio have remained constant. What explains these changes?Q3-5: How might (a) seasonal factors and (b) different growth rates distort a comparative ratio analysis? Give some examples. How might these problems be alleviated?Q3-6: Why is it sometimes misleading to compare a company’s financial ratios with those of other firms that operate in the same industry?P3-1: Greene Sisters has a DSO of 20 days. The company’s average daily sales are $20,000. What is the level of its accounts receivable? Assume there are 365 days in a year.P3-6: Donaldson & Son has an ROA of 10%, a 2% profit margin, and a return on equity equal to 15%. What is the company’s total assets turnover? What is the firm’s equity multiplier?P3-11: Complete the balance sheet and sales information in the table that follows for Hoffmeister Industries using the following financial data:Debt ratio: 50%Quick ratio: 0.80Total assets turnover: 1.5Day’s sales outstanding: 36.5 daysGross profit margin on sales: (Sales – Cost of goods sold)/Sales = 25%Inventory turnover ratio: 5.0Calculation is based on a 365-day year.Balance Sheet:Cash_______________Accounts receivable________Fixed Assets_____________Total Assets $300,000Accounts payable_____________Long-term Debt 60,000Common Stock____________Retained Earnings 97,500Total liabilities and equity__________Sales-__________________Cost of Goods Sold_________________
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