Financial accounting

1. JPJ Corp has sales of $1 million, accounts receivable of $50,000, total assets of $5 million (of which $3 million are fixed assets), inventory of $150,000, and cost of goods sold of $600,000. What is JPJ’s accounts receivable days? Fixed asset turnover? Total asset turnover? Inventory turnover?

2. If JPJ Corp (the company from Problem 28) is able to increase sales by 10% but keep its total and fixed asset growth to only 5%, what will its new asset turnover ratios be?

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Suppose that in 2018, Global launched an aggressive marketing campaign that boosted sales by 15%. However, its operating margin fell from 5.57% to 4.50%. Suppose that the company had no other income, interest expenses were unchanged, and the corporate tax rate for 2018 is 25%.

a. What was Global’s EBIT in 2018?

b. What was Global’s income in 2018?

c. If Global’s P/E ratio and number of shares outstanding remained unchanged, what was Global’s share price in 2018?

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