The following information is provided in the 2011 annual report to shareholders of
December 31, 2011 December 31, 2010
Accounts receivable ??? $100 million
Inventory $70 million $30 million
Other assets ??? $170 million
Total assets ??? $300 million
Total liabilities ??? $100 million
Total stockholders' equity ??? $200 million
For the year ended Dec. 31, 2011
Net sales ???
Cost of goods sold ???
Net income $40 million
Return on assets
Receivables turnover 8.0
Inventory turnover 12.0
Asset turnover 2.5
Return on stockholders' equity 20%
Profit margin on sales 4%
Required: Compute the missing amount in the paris-perfume.com financial statement
information, indicated by ??? in the table above.
This file contains a fully formatted MS Excel spreadsheet which illustrates in detail, the necessary calculations to complete the balance sheet, income statement, and return on asset ratios for the Paris-Perfume.com company.