ACC 556 Strayer Horizontal and Financial Ratio of Sandhill Corporation Questions
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Order Paper NowSelected hypothetical financial data of Target and WalMart for 2022 are presented here (in millions).
Target Corporation 
WalMart 


Income Statement Data for Year 

Net sales 
$65,000 
$406,000 

Cost of goods sold 
46,000 
306,000 


14,800 
76,000 

Interest expense 
660 
2,200 

Other income (expense) 
(70 
) 
(390 
) 

Income tax expense 
1,300 
6,500 

Net income 
$ 2,170 
$ 14,910 

Balance Sheet Data 

Current assets 
$19,000 
$49,000 

Noncurrent assets 
26,100 
123,000 

Total assets 
$45,100 
$172,000 

Current liabilities 
$12,000 
$55,000 

Longterm debt 
17,400 
43,000 


15,700 
74,000 


$45,100 
$172,000 

BeginningofYear Balances 

Total assets 
$45,000 
$162,000 


12,900 
66,000 


10,300 
57,000 

Total liabilities 
32,100 
96,000 

Other Data 


$8,000 
$3,800 


6,800 
33,200 


5,900 
27,400 


1,700 
11,600 

Dividends 
510 
4,200 
For each company, compute the following ratios. (Round current ratio answers to 2 decimal places, e.g. 15.50, debt to assets ratio and free cash flow answers to 0 decimal places, e.g. 5,275 and all answers to 1 decimal place, e.g. 1.8 or 1.83%.)
Ratio  Target 
WalMart 


(1) 
Current ratio 
enter the current ratio 
:1 
enter the current ratio 
:1  
(2) 
Accounts receivable turnover 
enter accounts receivable turnover in times 
times 
enter accounts receivable turnover in times 
times  
(3) 
Average collection period 
enter average collection period in days 
days 
enter average collection period in days 
days  
(4) 
Inventory turnover 
enter inventory turnover in times 
times 
enter inventory turnover in times 
times  
(5) 
Days in inventory 
enter days in inventory ratio 
days 
enter days in inventory ratio 
days  
(6) 
Profit margin 
enter percentages 
% 
enter percentages 
%  
(7) 
Asset turnover 
enter asset turnover in times 
times 
enter asset turnover in times 
times  
(8) 
Return on assets 
enter percentages 
% 
enter percentages 
%  
(9) 
Return on common stockholders’ equity 
enter percentages 
% 
enter percentages 
%  
(10) 
Debt to assets ratio 
enter percentages 
% 
enter percentages 
%  
(11) 
Times interest earned 
enter times interest earned 
times 
enter times interest earned 
times  
(12) 
Free cash flow 
$enter a dollar amount 
$enter a dollar amount 
Current Attempt in Progress
Here are the comparative income statements of Sandhill Corporation.
SANDHILL CORPORATION Comparative Income Statement For the Years Ended December 31 


2022 
2021 

Net sales 
$628,300 
$531,300 

Cost of goods sold 
456,400 
409,900 

Gross Profit 
171,900 
121,400 

Operating expenses 
71,400 
41,100 

Net income 
$ 100,500 
$ 80,300 
(a)
Prepare a horizontal analysis of the income statement data for Sandhill Corporation, using 2021 as a base. (If amount and percentage are a decrease show the numbers as negative, e.g. 55,000, 20% or (55,000), (20%). Round percentages to 1 decimal place, e.g. 12.1%.)
SANDHILL CORPORATION Comparative Income Statement choose the accounting period 


Increase or (Decrease) During 2022 

2022 
2021 
Amount 
Percentage 

Net sales 
$628,300 
$531,300 
$enter a dollar amount 
enter percentages rounded to 1 decimal place 
% 

Cost of goods sold 
456,400 
409,900 
enter a dollar amount 
enter percentages rounded to 1 decimal place 
% 

Gross Profit 
171,900 
121,400 
enter a dollar amount 
enter percentages rounded to 1 decimal place 
% 

Operating expenses 
71,400 
41,100 
enter a dollar amount 
enter percentages rounded to 1 decimal place 
% 

Net income 
$ 100,500 
$ 80,300 
$enter a dollar amount 
enter percentages rounded to 1 decimal place 
% 
(b)
Prepare a vertical analysis of the income statement data for Sandhill Corporation for both years. (Round percentages to 1 decimal place, e.g. 12.1%.)
SANDHILL CORPORATION Condensed Income Statements choose the accounting period 


2022 
2021 

$ 
Percent 
$ 
Percent 

Net sales 
$628,300 
enter percentages rounded to 1 decimal place 
% 
$531,300 
enter percentages rounded to 1 decimal place 
% 

Cost of goods sold 
456,400 
enter percentages rounded to 1 decimal place 
% 
409,900 
enter percentages rounded to 1 decimal place 
% 

Gross Profit 
171,900 
enter percentages rounded to 1 decimal place 
% 
121,400 
enter percentages rounded to 1 decimal place 
% 

Operating expenses 
71,400 
enter percentages rounded to 1 decimal place 
% 
41,100 
enter percentages rounded to 1 decimal place 
% 

Net income 
$ 100,500 
enter percentages rounded to 1 decimal place 
% 
$ 80,300 
enter percentages rounded to 1 decimal place 
% 
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