1, Excerpts from Hulkster Company's December 31, 2021 and 2020, financial statements are presented below:

	2021				2020
Accounts receivable	$	40,000			$	36,000
Merchandise inventory	$	28,000				35,000
Net sales		190,000				186,000
Cost of goods sold		114,000				108,000
Total assets		425,000				405,000
Total shareholders' equity		240,000				225,000
Net income		32,500				28,000

Hulkster's 2021 average days in inventory is (rounded):

A. 61 days.

B. 92 days.

C. 101 days.

D. 90 days.

2, Cal Farms reported supplies expense of $1,500,000 this year. The supplies account decreased by $210,000 during the year to an ending balance of $360,000. What was the cost of supplies the Cal Farms purchased during the year?

A. $1,860,000.

B. $1,710,000.

C. $1,140,000.

D. $1,290,000.

3, The following partial balance sheet ($ in thousands) for Paisano Seafood Inc. is shown below.

Assets				Liabilities and Equity
Current assets:				Current liabilities:
Cash	$	79		Accounts payable	$	234
Accounts receivable (net)		183		Other current liabilities		68
Notes receivable		57		Total current liabilities		302
Inventory		214		Long-term liabilities		103
Prepaid expenses		31		Total liabilities		405
Total current assets		564		Shareholders' equity:
Equipment (net)		270		Common stock		140
				Retained earnings		289
				Total shareholders' equity		429
Total assets	$	834		Total liabilities and equity	$	834

The current ratio is (Round your answer to 2 decimal places.):

A. 0.68.

B. 1.87.

C. 2.09.

D. 1.39.

4, Recent financial statement data for Harmony Health Foods (HHF) Inc. is shown below.

Current liabilities	$	180		Income before interest and taxes	$	121
10% Bonds, long-term		340		Interest expense		34
Total liabilities		520		Income before tax		87
Shareholders' equity				Income tax		29
Common stock		210		Net income	$	58
Retained earnings		290
Total shareholders' equity		500
Total liabilities and equity	$	1,020

HHF's long-term debt to equity ratio equity is:

A. 68.0%.

B. 0.0%.

C. 161.9%.

D. 147.1%.

5, The following information ($ in millions) comes from a recent annual report of Amazon.com, Inc.:

Net sales	$	10,832
Total assets		4,407
End of year balance in cash		1,088
Total stockholders' equity		445
Gross profit (Sales Cost of Sales)		2,582
Net increase in cash for the year		18
Operating expenses		2,063
Net operating cash flow		711
Other income (expense), net		(17	)

Compute Amazon's balance in cash at the beginning of the year.

A. $569

B. $1,088

C. $1,070

D. $822

6, Excerpts from Hulkster Company's December 31, 2021 and 2020, financial statements are presented below:

	2021				2020
Accounts receivable	$	44,000			$	38,000
Merchandise inventory		30,000				39,000
Net sales		213,200				205,000
Cost of goods sold		118,000				110,000
Total assets		429,000				407,000
Total shareholders' equity		244,000				227,000
Net income		35,500				30,000

Hulkster's 2021 asset turnover is: (Round your answer to 2 decimal places.)

A. 3.64.

B. 2.88.

C. 2.22.

D. 0.51.