1/ Jones Corp. reported current assets of $202,000 and current liabilities of $141,500 on its most recent balance sheet. The working capital is:

Multiple Choice

143%.

70%.

($60,500).

$60,500.

43%.

2/ Refer to the following selected financial information from McCormik, LLC. Compute the company's inventory turnover for Year 2.

	Year 2			Year 1
Cash	$	38,600		$	33,350
Short-term investments		101,000			65,500
Accounts receivable, net		91,000			85,000
Merchandise inventory		126,500			130,500
Prepaid expenses		13,200			10,800
Plant assets		393,500			343,500
Accounts payable		107,900			113,300
Net sales		716,500			681,500
Cost of goods sold		395,500			380,500

Multiple Choice

3.08.

5.66.

3.13.

3.03.

3.58.

3/ Powers Company reported Net sales of $1,270,000 and average Accounts Receivable, net of $71,500. The accounts receivable turnover ratio is:

Multiple Choice

0.56 times.

16.8 times.

33.5 times.

17.8 times.

18.8 times.

4/ Desjardin Landscaping's income statement reports net income of $73,500, which includes deductions for interest expense of $10,600 and income taxes of $33,100. Its times interest earned is:

Multiple Choice

11.1 times

7.9 times

4.1 times

6.9 times

0.14 times