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1) Pharoah Company had net credit sales of $13021000 and cost of goods sold of $9251000 for the year. The average inventory for the year

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1) Pharoah Company had net credit sales of $13021000 and cost of goods sold of $9251000 for the year. The average inventory for the year amounted to $1345000. The average days in inventory during the year was approximately a) 38 days. b) 121 days c) 260 days. d) 53 days. 2) If a gain of $275000 is realized in the cash sale of a building having a book value of $1098000, the total amount reported in the cash flows from investing activities section of the statement of cash flows is a) 823000 b) 1373000 c) 1098000 d) 275000 3) If a loss of $134000 is realized when selling (for cash) a building having a book value of $992000, the total amount reported in the cash flows from investing activities section of the statement of cash flows is a) $858000. b) $1126000 c) 9992000. d) $134000. 4) Sunland Company had net income of $1618000 and paid dividends to common stockholders of $404500 in 2022. The weighted average number of shares outstanding in 2022 was 582480 shares. Sunland Company common stock is selling for $40 per share on the NASDAQ. Sunland Company price-earnings ratio is a) 8.0 times. b) 14.4 times. c) 4.0 times. d) 2.8 times

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